Lok Sabha today took up the Finance Bill, 2024 for consideration. Initiating the discussion, Dr Amar Singh of Congress alleged that the Union Budget has provided relief to only people of higher income groups and has not taken care of middle and lower income groups. He said, the Country’s agricultural growth is on the decline. Dr Singh questioned the government on the issue of doubling farmers’ income.

Another Congress MP Deependra Hooda said FDI has been continuously decreasing in the country. He demanded a decrease in the excise tax of petrol and diesel and removing GST on LIC and Medical Insurance. He accused the government of partiality with the state of Haryana. Mr Hooda alleged that the Central government has not given any project to Haryana.

Participating in the discussion, Nishikant Dubey of BJP said, the Union Budget has proposed abolishing the Angel tax which will boost startups and the Job prospects of youth in the country. He questioned the opposition for criticizing the Agniveer Scheme. Mr Dubey hit out at the opposition on the allegation of misuse of Central Agency saying CBI and ED have been given freehand to act against corruption cases.

TMC MP Mohua Moitra said the Union Budget has no provisions for the middle class and the poor. She said the middle class make up 31 percent of India and the poor make up 60 to 65 percent of India. She said that indirect taxes are regressive because everyone from the richest billionaire to the poorest labourer is paying the exact same tax. She added that there must be a balance of direct and indirect taxes. She claimed that for the first time in the country’s history, salaried professionals and the middle class are sharing a greater tax burden than rich corporates.

The discussion remained inconclusive. Later, the House was adjourned for the day.