Market & Opposition React To Union Budget 2022

Bhubaneswar: Even as domestic share markets went upbeat in initial reaction to Union Budget 2022-23 presented by Finance Minister Nirmala Sitharaman and BJP leaders hailed it, the opposition Congress gave it a thumbs down.

The markets were volatile after the Finance Minister’s speech, but there was a rally of investors buying leading the BSE Sensex to soar by 500 points and hover around 58,5000.

Following are reactions of some Central leaders of BJP and Congress:

Defence Minister Rajnath Singh: Substantial amounts have been allocated towards research and development in several sectors including defence. The proposal to reserve 25% of the R&D Budget for startups and private entities is an excellent move.

Former MoS Finance Jayant Sinha: It’s a pro-growth Budget that emphasizes capital expenditure, the virtuous investment cycle that’ll power GDP growth forward. It is a deflationary Budget. It will keep inflation under control. As a result of that there will tremendous job creation.

BJP MP Rajyavardhan Singh Rathore: This is a very good budget for the common man… with an increase of 35% in infrastructure, to automatically accelerate the economy. It’s a booster shot that will pace up manufacturing in the country, keeping the country’s money in the country:

Congress chief spokesperson Randeep Surjewala: India’s salaried class and middle class were hoping for relief in times of pandemic, all-round pay cuts and back-breaking inflation. FM and PM have again deeply disappointed them in Direct Tax measures. This is a betrayal of India’s Salaried Class and Middle Class.

Congress MP Shashi Tharoor: Extremely disappointing, a damp squib! There seems to be absolutely nothing in this Budget. It’s an astonishingly disappointing Budget. When you listen to the speech, no mention of MGNREGA, of Defence, of any other urgent priorities facing the public.

JD-U parliamentary board chairman Upendra Kushwaha: Disappointing. Finance Minister disappointed Biharis by not saying anything on our demand for granting special status to Bihar.