A day after Finance Minister Arun Jaitley presented the Union Budget 2017-18, Bahujan Samaj Party (BSP) supremo Mayawati, today, took a dig at the Bharatiya Janata Party (BJP). Targeting the Narendra Modi-led central government over the implementation of the demonetisation policy, Mayawati stated that even during the budget presentation, the ruling party has not made clear declaration on the total amount of money deposited in the bank post note-ban.
Days back, the former Uttar Pradesh Chief Minister slammed BJP over its poll manifesto for the upcoming UP assembly elctions and claimed that the party will be rejected since the people of the state don’t trust them. The BSP supremo further said that the BJP-led Government in the Centre announced the demonetisation, citing the nedd to fight against corruption and black money but instead escalated pain for the common people and the poor.
Finance Minister Arun Jaitley’s Union Budget 2017-18 has been receiving mixed reaction from various sectors of the country. Prime Minister Narendra Modi lauded this year’s budget claiming that it will lead the country towards development and stated that this year’s budget is devoted towards strengthening the hands of the poor. While on the other hand, Congress vice-president Rahul Gandhi slammed FM Jaitley’s Budget and stated that it lacked a clear vision and had nothing for farmers, youths and job creation.
In a major announcement this year FM Jaitley said that political parties continue to received funding from anonymous sources, and hence reduced the maximum donation that a political party can receive in cash is Rs 2,000 from any one source. He added that no transaction of more than Rs 3 lakh will be permitted in cash.
Jaitley, also announced that he will reduce the tax rate of individuals earning between Rs 2.5 lakh to Rs 5 lakh to 5% from the current 10%. This would also translate into an additional benefit of Rs 12,500 for tax payers even beyond Rs 5 lakh. However, the budget has also proposed a fee for delayed filing of income tax return. If the income tax return is furnished after the due date but on or before the December 31 of the assessment year, there will be a fine of Rs 5,000 imposed. In other cases, there will be an imposition of a fine of Rs 10,000.