New Delhi: Congress vice-president Rahul Gandhi on Wednesday said the Union Budget 2017 lacked “vision” and was a “damp squib”.
“We were expecting fireworks, instead got a damp squib. The Budget lacked vision,” he said.
However, the Congress leader added, ”Any step to clean political funding will be supported by us.”
“It was a budget of sher-o-shayari. There was nothing for the farmers and the youth,” he added.
His remarks came shortly after Finance Minister Arun Jaitely announced the reduction of the existing rate of taxation for individuals with income ranging between Rs 2.5 lakh to Rs 5 lakh to 5% instead of 10%.
Jaitley’s announcement means that everyone under the tax bracket of Rs 50 lakh stand to gain Rs 12,500 tax benefit in the coming year. There will be a surcharge of 10% for those whose annual income is Rs 50 lakh to Rs 1 crore.
Additionally, the 15% surcharge on Rs 1 crore or more remains unchanged. This is to make up for Rs 15,000 crore loss due to the cut in the personal income tax rate.
Source: Zee News