Kolkata residents on Thursday expressed mixed reactions to the maiden general budget proposals of the Narendra Modi-led National Democratic Alliance (NDA) Government, which was presented by Finance Minister Arun Jaitley.
Kolkata resident A.K. Sen Gupta told ANI, "(Allocation for the) defence sector is alright, because we have to look for country's safety. But the insurance sector needs consideration. There has to be some increase in it, if not much."
FDI in defense and insurance sectors have been raised to 49 percent each.
Joydeep told ANI, "At least 10 per cent should be curtailed from the defense sector and put into sectors of health and education. The health situation in India is quite dismal. More hospitals and schools must be opened, as there is a lack of basic education in the country."
Regarding the education and health sector, Jaitley said that the government will focus more on the health sector and will set up an institute of excellence; Rs.100 crore will be spent on virtual class rooms for online education and five more IITs and 5 more IIMs will be set up.
Jaitley presenting the budget proposals today for fiscal 2014-15 for a little over two hours, and said he was doing so with the full knowledge that the people of India are passing through some tough economic times, and that the government is duty-bound to address those concerns brought on by a high fiscal deficit and a high level of subsidies.
