‘FM holds up an umbrella for all’: Harsh Goenka on ‘detailed, well-researched’ Budget 2024
Industrialist Harsh Goenka commended Budget 2024 by Finance Minister Nirmala Sitharaman, saying she “holds up an umbrella for all”.
Harsh Goenka, chairman of RPG Enterprises, shared his views on the Budget 2024 presented in the Parliament by Finance Minister Nirmala Sitharaman. He found the Budget “meticulous, detailed and well-researched”, adding that FM Sitharaman held up an umbrella for all.
Read| ‘Watching another Ambani wedding function would’ve been better’: Ashneer Grover on Budget 2024
“After a world cup win by the men in blue, a match-winning budget by FM Sitharaman for Team India - focusing on common man's interests. Meticulous, detailed and well-researched, ingraining the pulse of the country, under an experienced Captain’s leadership,” wrote Harsh Goenka on X.
In a separate post, he wrote, “In the midst of rain all around, FM holds up an umbrella for all, though the market ends up getting some splashes!”
Many people reacted to Harsh Goenka’s posts on X. While some reposted them with their thoughts, many dropped comments on them.
Check out a few reactions here:
“But once again, at the cost of the salaried and middle class!” said an X user.
Another asked, “Sarcasm?”
“Budget 2024 - ‘Boring, Lifeless and Meaningless’,” commented a third, referring to what BharatPe co-founder Ashneer Grover said on Budget 2024.
A fourth shared, “Pay - 30 per cent tax on salary, 4 per cent Health and Education Cess on tax payable, GST on everything you purchase. If you manage to save something and invest, pay: 30 per cent on savings and FDs interest, 20 per cent on investments under 1 year and 12.5 per cent on long term.”
“Nowadays, people post sarcastic tweets!” expressed yet another X user.
Highlights from Budget 2024
In her record seventh consecutive Union Budget presentation, Nirmala Sitharaman announced a reduction of basic customs duty (BCD) on mobile phones, mobile chargers, gold, silver and others. The Budget also exempts three cancer treatment medicines from BCD. The Union Budget 2024 proposed to allocate ₹2 lakh crore for job creation over five years. The government will also launch three schemes for employment-linked incentives.
The Finance Minister revised the tax slabs for those who opted for the new regime. “Under the new tax regime, tax rate structure to be revised as follows - ₹0- ₹3 lakh -Nil; ₹3-7 lakh -5%; ₹7-10 lakh-10%; ₹10-12 lakh-15%; 12-15 lakh- 20% and above ₹15 lakh-30%," she announced.
The income tax standard deduction for those who opted for the new tax regime has also been reduced. She said, “For those opting for the new tax regime, the standard deduction for salaried employees to be increased from ₹50,000 to ₹75,000.”
Nirmala Sitharaman said that the nine priorities of the Budget include productivity, jobs, social justice, urban development, energy security, infrastructure and reforms.