Bhubaneswar: A day before the presentation of Union Budget for 2016-17 fiscal by Union Finance Minister Arun Jaitley at the Lok Sabha, political leaders of Odisha hope that the budget will have more allocations for the agriculture sector as well as farmers.
“We believe and hope that in the ensuing budget more allocation will be made for the farming sector and farmers. Besides, development of rural areas in the country should be given more focus in the budget,” BJD Parliamentary Party Leader Bhartruhari Mahatab told OTV today.
Expressing similar views, BJD MP from Kendrapara, Baijayant Panda stated, “Though the growth rate of the country’s GDP has increased, we have found that the distress still continues in the agriculture sector. Rural expenditure and earnings have also declined. Besides, joblessness in the country is also high. To set all these things right, efforts should be made to ensure that the money will be spent in a balanced way so that fiscal deficit does not go up.”
Begging to differ, Prasad Harichandan, OPCC president, said, “We expect the country’s financial condition will be brought on track in the Union Budget as during Narendra Modi’s regime the financial condition has gone haywire.”
On the other hand, Finance minister Pradip Amat said, “The Union Budget is expected to allocate funds for five under-construction medical colleges in the State. Besides, Central Sales tax (CST) compensation of more than Rs 2,500 crore regarding which we have been demanding is hoped to be addressed.”
Looking at the drought in the country, Jaitley is expected to focus on small irrigation projects, crop insurance and infrastructural development of rural areas in the Union Budget. Similarly, to give a boost to industry, the corporate tax is expected to be brought down.
For common man, the Union Finance Minister is likely to propose in the Budget to increase income tax slab so that people will save more.
To increase revenue of the country, the Budget is likely to propose for an increase in the Service Tax.