Union Budget 2017: From 'path-breaking', 'uttam' to 'vision less' – here are some quick reactions

While PM Narendra Modi hailed the Union Budget as 'pro-poor and historic', Congress vice-president Rahul Gandhi called it 'vision less' and a 'damp squib'. Here are some quick reactions.

New Delhi: Congress vice-president Rahul Gandhi on Wednesday said the Union Budget 2017 lacked "vision" and was a "damp squib".

"We were expecting fireworks, instead got a damp squib. The Budget lacked vision,'' he said.

However, the Congress leader added, ''Any step to clean political funding will be supported by us." 

"It was a budget of 'sher-o-shayari'. There was nothing for the farmers and the youth," he added.

His remarks came shortly after Finance Minister Arun Jaitely announced the reduction of the existing rate of taxation for individuals with income ranging between Rs 2.5 lakh to Rs 5 lakh to 5% instead of 10%. 

Jaitley's announcement means that everyone under the tax bracket of Rs 50 lakh stand to gain Rs 12,500 tax benefit in the coming year. There will be a surcharge of 10% for those whose annual income is Rs 50 lakh to Rs 1 crore. 

Additionally, the 15% surcharge on Rs 1 crore or more remains unchanged. This is to make up for Rs 15,000 crore loss due to the cut in the personal income tax rate.

Here are some quick reactions to the Union Budget 2017:-

PM Narendra Modi

-The FM has presented an 'Uttam' Budget, devoted to strengthening the hands of the poor.

-This Budget is yet again devoted to the well-being of the villages, farmers and the poor.

Amit Shah, BJP chief

-This is a pro-women, pro-poor budget. PM Modi has fulfilled his promise which he made in 2014 to bring in transparency in politics.

Union Minister M Venkaiah Naidu

-I thank FM Arun Jaitley for according infrastructure status to affordable housing; helping poor meet aspirations of owning a house.

Railways Minister Suresh Prabhu

-Path-breaking Budget, a new era has begun

-Budget 2017 is a transformmative one; It's a step towards cleaning the whole political system, we welcome it.

-Its a historic and important budget which will have a long term impact.

Renuka Chowdhury, Congress

-Nothing on defence spending; How are they fighting UP elections? Did they get donations in cheque or digital payment?

ASSOCHAM

-We consider it mix budget. Industry hoped lot more for promotion of investment but I think FM did whatever was possible.

Sonali Jaitley 

-Its a very good budget with focus on skill development, it is women friendly.

Uddhav Thackeray, Shiv Sena

-What is the need to present the Budget every year? Were all announcements of last year's budget fulfilled?: 

Manish Tewari, Congress

-The budget is rhetorical, but in actually creating jobs there is precious little. Railways got a cursory mention.

-The budget numbers don’t seem to add up, as there is huge expansion on Govt spending on schemes.

Naresh Agarwal, Samajwadi Party 

-It's a hopeless budget. It has nothing for farmers. It does not talk about jobs for the unemployed.