In the run-up to Budget, Congress leaders have urged Finance Minister Pranab Mukherjee to take steps to appease the ‘common man’ – to raise the income tax exemption limit, reduce interest rates and provide greater Budgetary allocations for poverty alleviation programmes. Senior Congress Working Committee (CWC) and AICC office bearers on Thursday interacted with Mukherjee, in a customary pre-Budget consultation. While he patiently heard out their wish list, the finance minister made it a point to first brief his party colleagues on the reality of the overall economic and financial scenario, the global recession and its impact on the country.
Congress MP T Subbarami Reddy, later stepping out of the meeting, said: “We demanded priority to industrial growth and focus on the banking sector.” In view of the present scenario, Reddy said he had suggested that interest rates should be reduced to encourage industrial growth.
Other leaders urged Mukherjee to raise income tax exemption limit to provide relief to the salaried class. At present, income tax is levied on income above Rs 1.8 lakh a year. The leaders also expressed concerns over slowdown and wanted him to announce steps to boost growth. With Assembly elections in many states around the corner, Congress leaders were keen that the government increase its allocations for poverty alleviation programmes like NREGS, National Rural Health Mission and Bharat Nirman.
