Marginal Tax Relief and Job Schemes Highlight Modi 3.0 Budget

Finance Minister Nirmala Sitharaman announced marginal tax relief for the middle class and a Rs 2 lakh crore job creation scheme in the Union Budget. The budget focuses on defence outlay, procurement from domestic industries, and includes expenditures to support BJP-run states. Opposition criticizes it as politically motivated.

Finance Minister Nirmala Sitharaman unveiled the Union Budget, featuring marginal tax relief for the middle class and a Rs 2 lakh crore allocation for job creation over five years. The budget also earmarked Rs 6.22 lakh crore for defence, emphasizing procurement from domestic industries.

Despite these measures, the budget has drawn significant criticism. The Congress called it a ‘copycat’ and ‘kursi bachao’ budget, accusing the government of borrowing their ideas but executing them poorly. The INDIA bloc intends to protest in Parliament over perceived discrimination against opposition-ruled states.

The BJP, however, praised the budget for its potential to speed up economic transformation and align with Prime Minister Modi’s vision of a developed India. Meanwhile, the Aam Aadmi Party and Left parties condemned the budget for overlooking key issues like unemployment and inflation.