Much to the delight of the Northeast people and political leaders, the Budget 2023-24 presented by Finance Minister Nirmala Sitharaman raised the DoNER funds Rs 5892 crore.
This year’s allocation was from Rs 2800 crore, and the increase is by a staggeringly high 110 per cent.
BJP National Vice President M Chuba Ao on February 1 welcomed the Budget 2023, saying it is pro-tribal and continues to make India a “bright star in the global economy”.
“It is a Budget for New India and the right one for Amrit Kal. I will especially welcome the new Pradhan Mantri PVTG (particularly vulnerable tribal groups) Development Mission. A total of Rs 15,000 crore will be made available to implement this scheme in the next three years, “Chuba told ‘Organiser’.
Tribal population across India will get Rs 15,000 crore over the next three years for safe housing, sanitation, drinking water, and electricity, the senior BJP leader said.
It is a matter of utter satisfaction that Finance Minister Nirmala Sitharaman has done well to reflect ‘efficiency’ in the implementation of schemes that have brought about inclusive development in the last eight-night years.
“It is a matter of satisfaction that our national economy has increased in size from being the 10th to the 5th largest in the world,” he said.
He further said this Budget gives a “boost and necessary wings to New India initiatives”.
Chuba, also in charge of BJP Meghalaya, said the Budget for the Ministry of Development of the North Eastern Region had been increased from Rs 2800 crore to Rs 5892 crore. The raise is 110 per cent, he said.
The BJP leader said the Prime Minister’s Development Initiative for North East Region (PM-DevINE) allocation is Rs 2200 crore. As the Finance Minister pointed out, the seven priority areas of the Union Budget 2023 also ought to be welcomed.
They are reaching the last mile; infrastructure and investment, unleashing the potential; inclusive development; green growth; focus on youth; and the financial sector. He said the new tax slabs for 2023-24 are also suitable. Under the new income tax regime, there will be no tax payable for income up to Rs 7 lakh per annum.
“Currently, those with an income of up to Rs 5 lakhs don’t pay any income tax. I proposed to increase the tax rebate limit to Rs 7 lakhs in the new tax regime,” Finance Minister Sitharaman said. Chuba Ao also welcomed the Mahila Samman Savings Certificate that will allow deposits of up to Rs 2 lakh for two years at 7.5 per cent interest.
Finance Minister Sitharaman made five major announcements on personal income tax to benefit the “hard-working” middle class. She also said that while the new tax regime would be the default, taxpayers could opt for the old one.