HYDERABAD: The seven priorities of the Union government listed out in the Union Budget 2023-24, which was presented by Finance Minister Nirmala Sitharaman in Lok Sabha, has impressed a majority of the different sections of the people, even some critics. Some even asked the Telangana government to take a similar approach in drafting the State budget.
Different stakeholders opined that Budget 2023-24 will protect the economic stability of the country at a time when western countries are fearing recession. The national vice-president of CREDAI, Gummi Ram Reddy said that they welcome the budget as it aimed at “good growth” of the country. He said that the Centre had marked Rs 10 lakh crore for infrastructure development, Rs 2.4 crore for Railways, and Rs 79,000 crore for PM Awas Yojana, which was a very essential decision.
“Although, there is no direct benefit to the real estate sector, the budget will indirectly be helpful for its stakeholders,” he said. He added that they expected the Centre to increase housing loan interest subsidy from Rs 2 lakh to Rs 5 lakh, an exception to rental income of upto Rs 20 lakh per annum, and to enhance the cap of Rs 45 lakh on urban housing.
The secretary of Forum for Good Governance, M Padmanabha Reddy said that by and large it was a ‘good budget’ as expected in view of nine Assembly and Parliament elections. He said that the budget has given direction for growth, and prioritised health and education sectors. Allocating Rs 2.4 lakh to Railways, and funds for the development of infrastructure was a welcome move, he felt.
“While the other countries are reeling under the threat of recession, this budget protects the country’s economy,” Padmanabha Reddy said. Chartered Accountant B Venugopal Swamy said that the Union government should have pumped in money to the small and medium business owners such as entrepreneurs, employees, and other citizens of this country. He said that the budget has become a mere speech reading out mere allocations to few sectors. He said that apart from a minor relief in tax slabs, nothing much has been done.
Manne Dharani, a homemaker, said that the news of increase of gold and other precious metal prices is worrisome. She said that the Centre should have focused on giving subsidies on domestic cylinders instead of adding another 9.6 crore LPG connections provided under Ujjwala.