I belong to middle class, understand their pressures, says FM Sitharaman days before Budget
New Delhi, Jan 15: Ahead of the Union Budget, Finance Minister Nirmala Sitharaman said on Sunday that she was aware of the pressures of the middle class but also recalled that the present government has not imposed any fresh taxes on them.
Sitharaman will present Union Budget for 2023-24 in the Lok Sabha on February 1 amid expectations that the government will raise the income tax limit and provide relief to the middle class taxpayers, besides others.
"I too belong to the middle class so I can understand the pressures of the middle class. I identify myself with the middle class so I know," she said while speaking at a function organised by the Panchjanya magazine, an RSS- associated weekly.
In the same breath, the minister reminded the audience that the present Modi government has not imposed any fresh taxes on the middle class. Also, she added, income of up to Rs 5 lakh is exempt from the income tax.
She said the government has taken various measures like developing the metro rail network in 27 cities and building 100 smart cities to promote ease of living.
The minister assured them that the government can do more for the middle class as its population is growing and it has become sizeable now.
"I quite recognise their problems. The government has done a lot for them and continue doing the same," she said without making any commitment. Sitharaman said the government has been raising the outlay on capital expenditure in each Budget since 2020.
For current financial year, she said, it has been increased by 35 per cent to Rs 7.5 lakh crore as it has a multiplier effect on the economy.
On the banking sector, she said, the government's 4R strategy --Recognition, Recapitalization, Resolution and Reform--has helped in revival of public sector banks (PSBs).
As a result of this, non-performing assets (NPAs) have declined and health of PSBs has improved greatly, she said.
The government implemented an unprecedented recapitalization programme for PSBs amounting to Rs 2.11 lakh crore to support capital adequacy and prevent their default.
PSBs turned the corner during 2020-21 with a combined net profit of Rs 31,820 crore supported by massive recovery, reduction in NPAs and windfall gains on their bond portfolio.
Subsequently, the combined profit more than doubled to Rs 66,539 crore in FY22 despite COVID-19 pressure. They had booked collective losses to the tune of Rs 2,07,329 crore for five straight years from 2015-16 to 2019-20.
The RBI last month said, banks' gross NPA ratio has fallen to a seven-year low of 5 per cent and the banking system remains sound and well-capitalised.
Speaking about farmers, Sitharaman said the government is committed to doubling their income and has taken various steps in that direction.
On trade with Pakistan, she said the neighbouring country never offered Most Favoured Nation (MFN) status to India. Trade relations with Pakistan have suffered since the Pulwama terror attack in 2019, she said.
With regard to freebies, the minister said, promises have to be made keeping in mind the financial health of the state and there has to be full transparency about it.
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Bengal elections: Bhangar tense during polling, ISF claims voters, agents threatened
Kolkata (PTI): Tension gripped South 24 Parganas' Bhangar and its adjoining areas during the second phase of polling in West Bengal on Wednesday, with the Indian Secular Front (ISF) accusing TMC of trying to intimidate polling agents and influence voters.
NIA officials have been deployed in at least seven Assembly seats of West Bengal, where the second phase of polling is underway on Wednesday, after the Election Commission asked the federal probe agency to ensure bombs are not used to disrupt polling.
On April 26, police recovered crude bombs from the house of a person, allegedly a TMC worker, in Bhangar. Later, on a directive by the Union Home Ministry, the NIA registered a case to probe the recovery of 79 crude bombs in the state.
Trouble was reported from several pockets of Bhangar and Canning Purba constituency since morning, prompting heavy deployment of central forces, state police and NIA teams in sensitive areas.
At Hedia in Canning Purba constituency, the ISF alleged that one of its polling agents received death threats from TMC supporters.
ISF candidate Arabul Islam rushed to the spot after receiving the complaint and accused the administration of failing to ensure a fair election.
"Votes are being looted in Canning Purba. Our agents in booths are being driven out of several booths after snatching their cards and documents," he alleged.
Since morning, Islam was seen visiting booths and asking security personnel to clear gatherings within 100 metres of polling stations, while also assisting ISF polling agents in entering booths.
ISF chairman and Bhangar MLA Naushad Siddiqui also alleged that party workers and agents were being intimidated by ruling party supporters, but claimed that the overall atmosphere in Bhangar was comparatively peaceful compared to previous elections.
The fresh allegations and tension came a day after several areas of Bhangar, including Kochpukur and Joypur under Bhangar-II block, witnessed clashes between TMC and ISF supporters.
ISF supporters alleged that workers of the ruling party roamed through neighbourhoods on Tuesday night and threatened locals. When ISF workers protested, clashes broke out, leaving at least four of their compatriots, including a woman, injured.
Later, Siddiqui said, "The people of Bhangar are finally exercising their democratic rights. Earlier, bombs, bullets and pistols decided elections here. This time, people are choosing ballots and voting with a smile."
He alleged that "political dealers" and local goons loyal to TMC leader and Bhangar candidate Saukat Molla were trying to provoke ISF workers and create tension in certain areas.
"Agents are being threatened and prevented from functioning freely. We repeatedly informed the administration, but police are acting in favour of the ruling party and not cooperating," Siddiqui alleged.
Later in the day, the ISF leader also claimed that voters were prevented from exercising their franchise freely during the 2023 panchayat polls and the 2024 Lok Sabha elections. However, the situation has improved this time, he said.
The TMC denied the allegations and accused the ISF of trying to create unrest in the constituency to influence polling.
Security was significantly tightened in Bhangar, where, apart from state police and central forces, a special team of the National Investigation Agency (NIA) was also deployed to monitor sensitive pockets.
