Shashi Tharoor Criticizes Union Budget 2024-25 as 'Underwhelming'

Congress MP Shashi Tharoor called the Union Budget 2024-25 'underwhelming,' highlighting the omission of key issues affecting the common man. However, he welcomed the abolition of the angel tax, a recommendation he made five years ago. Other MPs voiced concerns over budget priorities.

Congress MP Shashi Tharoor has described the Union Budget 2024-25, unveiled on Tuesday, as 'underwhelming,' criticizing its lack of attention to critical issues facing ordinary citizens. Tharoor praised the move to abolish the angel tax, noting that he had originally advised former Finance Minister Arun Jaitley to take this step five years ago.

'It is an underwhelming budget,' Tharoor remarked to ANI. 'I heard nothing addressing the key issues of the common man. MNREGA was not mentioned, and steps to improve the income of the average person were insufficient. There was far too little effort to address income disparity, and job creation efforts were merely token gestures.'

Shiv Sena (UBT) MP Priyanka Chaturvedi accused the Government of prioritizing its own interests over those of the states, coining the budget, 'PM Sarkaar Bachao Yojana.' She claimed that funds were allocated to Bihar and Andhra Pradesh after denying them special status, while Maharashtra was ignored. Congress MP Karti Chidambaram acknowledged the political need to cater to alliance partners and noted the inclusion of elements from the Congress manifesto, such as the apprentice scheme.

Presenting the Union Budget 2024-25, Finance Minister Nirmala Sitharaman proposed ending the controversial angel tax, a long-standing demand from the industry. This change is expected to encourage more investments in startups, which are vital for economic growth and job creation.

Angel tax refers to the income tax levied on funding raised by unlisted companies or startups if their valuation exceeds the company's fair market value. This tax primarily impacts angel investment, earning it the moniker of the 'angel tax.'