Budget 2024-25: Saryu Roy Has Mixed Reactions on Economic Impact

Finance Minister’s Proposals Aim for $5 Trillion Economy, but Concerns Remain

The Union Budget 2024-25 has sparked varied responses, with some praising its economic vision while others express concerns about its impact on the common citizen.

JAMSHEDPUR – The recently presented Union Budget has received mixed reactions from different sections, including local MLA Saryu Roy.

Presented by Finance Minister Nirmala Sitharaman, the budget seeks to enhance the central government’s financial standing and elevate India’s global economic competitiveness.

Roy praised the government’s initiatives to offer relief in income tax slabs, expressing his belief that it will be advantageous for the middle class.

Nevertheless, he pointed out that the budget fails to meet the public’s expectations when it comes to lowering petrol and diesel prices and implementing GST reforms.

Expressing concern, the MLA highlighted the potential negative impact of the increased capital gains tax on the middle class.

He also pointed out the possible impact on regular people caused by increasing retail prices, resulting in higher daily household expenses and problems in day to day life.

Roy highlighted the importance of the government ensuring that economic advancements extend beyond organized sectors and also reach unorganized groups in society, i.e. the common masses of the country.

Recognizing the budget’s potential for generating employment, he emphasized the importance of prioritizing the well-being of low-wage workers, including those in outsourced and contract positions and said that the government should focus more on these sections of the society.

It has been observed by the MLA that there is a concerning increase in the practice of replacing permanent workers with outsourced staff in major industries, especially in industrial cities such as Jamshedpur.

He proposed that the budget should incorporate measures to safeguard against the exploitation of unorganized labor groups by large industries.

Roy emphasized that addressing these concerns would greatly benefit the public and align the budget with their welfare.