Government's Effort to Provide Relief on Inflation and Taxes: Dr. Kunawat

Dr. Nirmal Kunawat, Senior Chartered Accountant, praised the Union Budget for its historic focus on youth, women, and marginalized sections of society. The budget introduces significant benefits for the poor, middle class, and farmers, with particular attention to inflation and taxation relief.

The increase in Kisan Credit Card limits from INR 3 lakh to INR 5 lakh offers a major relief for farmers, while the expansion of MSME investment and turnover limits is expected to boost confidence among entrepreneurs and generate employment. The tax exemptions for those earning up to INR 12 lakh and increased benefits for senior citizens were also noted as key highlights.

However, Dr. Kunawat expressed disappointment over the lack of significant tax relief for businesses and industrialists, particularly regarding capital gains tax, which had been expected to increase market sentiment. Despite this, the announcement of a new tax bill next week brings hope for further reforms.

Public-Friendly Budget with Limited Incentives for Industries: Nirmal Singhvi

Finance Minister Nirmala Sitharaman's eighth budget focuses on transforming India into a developed nation, with attention to power, mining, urban development, and financial reforms. Senior CA Nirmal Singhvi welcomed the budget's provisions to reduce the fiscal deficit and boost small taxpayers, particularly through increased TDS exemptions for rent.

Singhvi also praised the government's decision to introduce a new tax bill aimed at simplifying the tax system and supporting sectors like FMCG, auto, and real estate through tax relief. He acknowledged positive moves for battery manufacturing companies and shipbuilding, but lamented the lack of reductions in petrol and diesel prices, as well as the absence of capital assistance for industries.

Marble Traders Discuss Union Budget

In Udaipur, the Marble Association expressed mixed views on the budget. President Pankaj Gangawat highlighted the positive impact of changes in income tax slabs on market cash flow, which would benefit the MSME sector and contribute to GDP growth. However, the lack of a reduction in the GST slab for the marble industry and the absence of provisions for regulated imports of foreign stones left some traders disappointed.

Despite this, the budget's focus on small enterprises and national development is expected to drive economic growth and business opportunities across various sectors, including marble. The focus on education, healthcare, and infrastructure is also seen as a step toward India’s prosperity.