'Zero sum' and 'people-friendly': Top reactions to Union Budget 2022

Modi called the budget 'people-friendly and progressive', adding that it has brought new confidence to usher development in the midst of Covid

Reactions from politicians and business leaders poured in after Finance Minister Nirmala Sitharaman announced the Union Budget for the year 2022-23. While the leaders in the Opposition camp slammed the government for a 'capitalist Budget', some industry leaders welcomed the proposals. Prime Minister Narendra Modi hailed it as a "people-friendly and progressive Budget".

Here are the top reactions:

Prime Minister Narendra Modi

Modi said the Budget had brought new confidence to usher development in the midst of one of the most terrible calamities in 100 years, a reference to the Covid-19 pandemic.

P Chidambaram

"The government seems to believe that the present does not need any attention and the people living in the present can be asked to wait patiently until the Amrit Kaal dawns," said Congress leader P Chidambaram, a former finance minister. "This is nothing but mocking the people of India, especially the poor and the deprived."

Kiran Mazumdar Shaw

Biocon head Kiran Mazumdar Shaw said, "Finance Minister Nirmala Sitharaman’s Budget for FY23 is well balanced with fiscal prudence and 'ease of doing business' as the main themes. I believe the 35% increase in capital expenditure for FY23 is positive and will drive the creation of much-needed infrastructure and jobs."

Also Read: Key takeaways from FM Nirmala Sitharaman's Union Budget speech

Anand Mahindra

"Brevity has always been a virtue," said Anand Mahindra, in a short note. "Nirmala Sitharaman's shortest Budget address may prove to be the most impactful…"

Jairam Ramesh

"On the one hand, the Budget talks of climate action and protecting the environment," said Congress leader Jairam Ramesh. "On the other, it pushes ecologically disastrous river-linking projects. Rhetoric sounds nice. But actions matter more. On that front, the Modi govt is on a destructive path."

Mamata Banerjee

"Budget has zero for common people, who are getting crushed by unemployment and inflation," tweeted West Bengal Chief Minister Mamata Banerjee. "Government is lost in big words signifying nothing - a Pegasus spin Budget."

Amit Shah

Union Home Minister Amit Shah said, "This Budget, brought by the Modi government, is a visionary Budget, which will prove to be a Budget to change the scale of India's economy. This Budget will make India self-reliant and lay the foundation for a new India of the 100th year of independence."

Deloitte India

The company said, "The setting up of the AVGC (Animation, Visual Effects, Gaming, and Comics) promotion task force announced in the Union Budget will help India achieve its potential of achieving 20 lakh jobs, according to Deloitte projections. These are critical skills for the growth of the metaverse and India is poised to take advantage of this ecosystem."

Rahul Gandhi

Congress leader Rahul Gandhi tweeted, "Modi Government’s zero sum Budget! Nothing for
- Salaried class
- Middle class
- The poor and deprived
- Youth
- Farmers
- MSMEs."

Kunal Bahl, Snapdeal

Snapdeal co-founder Kunal Bahl said, "This is the Digital Revolution Budget. We welcome the government's emphasis on creating new digital touchpoints to empower multiple aspects of our society and supercharge the start-up ecosystem."

Oyo

A company statement said, "The extension of incorporation period for eligible start-ups will certainly give a boost to this segment. Hospitality services by the small and medium sector are yet to bounce back, and the Finance Minister’s decision to extend the Emergency Credit Line Guarantee Scheme for this sector up to March 2023 and expanding the cover by ₹50,000 crore is a welcome move."

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