Budget 2022: The BJP has broken the backbone of the middle class, the NCP criticises the Government

After Finance Minister Nirmala Sitharaman announced the federal budget on Tuesday, the Nationalist Congress party claimed that the ruling BJOP had 'broken the backbone of the middle class.' "The BJP has shattered its middle-class backbone. The BJP has taken control of the souls of the middle class ", the party said in a tweet. "The BJP has abandoned the middle class for the past six years with no adjustment in the tax slab," it continued.

 

Meanwhile, Congress leader Rahul Gandhi labelled the Union Budget for 2022-23 a "zero-sum budget" on Tuesday, claiming that it provides nothing for the salaried, middle class, or impoverished. His remarks came shortly after Finance Minister Nirmala Sitharaman delivered the Union Budget to the House of Commons "The Zero Sum Budget of the Modi Government! There is nothing for the salaried class, the middle class, the poor and disadvantaged, youth, farmers, and small businesses "Gandhi expressed himself on Twitter.

 

Finance Minister Nirmala Sitharaman did not change the personal income tax rates in the Budget for 2022-23, contrary to predictions. In addition, the minister did not enhance the standard deduction, which was generally expected in light of rising inflation and the pandemic's impact on the middle class.

 

Currently, the standard deduction is Rs 50,000. In the personal income tax category, the Budget released on Tuesday made no changes to income tax slabs. The corporate tax rate was also held the same. For newly constituted industrial firms, however, the concessionary rate of 15% has been extended for another year.

 

 

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