As Indian Prime Minister Narendra Modi endorsed the budget proposals of Finance Minister Nirmala Sitharaman in parliament during an over two-hour long speech, describing it as the first budget of the decade with “vision” and “determination for action”, many netizens took it as all talk and no action.
Some netizens did not seem convinced about the path the government wishes to take in spurring economic growth and addressing existing socio-economic anomalies, with one user even branding it "verbal diarrhoea".
“The reforms announced in today’s budget are aimed at establishing a firm foundation for speeding up economic growth over the next decade and to give every citizen of this country economic stability. The 16-point action plan that we have announced will give the rural sector the required impetus in terms of providing a livelihood”, Prime Minister Modi said on Saturday after the budget presentation.
Another group of social media users said the budget announcements hold promise for a better future for the country and its people.
Some netizens were, in turn, sceptical of the prime minister’s claim that the goal of developing 100 airports and 100 smart cities is very important for the country’s tourism sector. They seemingly didn't agree with the view that it would lead to the creation of more jobs and income generation with less investment.
The prime minister, however, said that he believed this budget would increase both income as well as investment and bring new energy to the financial system. Credit flows would fulfil the country's current needs and expectations for the next decade.
Finance Minister Sitharaman’s focus was on giving a much needed and balanced boost to the country’s agricultural and middle-income earning sectors.
Taxpayers were given a bonanza in terms of reduced tax rates, but they were also warned that 70 out of 100 deductions available to them in the old regime would not be available in the new regime. Sitharaman said the idea behind the new regime was to bring down tax liabilities.