Bengal Chief Minister and Trinamool Congress supremo Mamta Banerjee On Saturday has reacted to the general budget. Mamata Banerjee has expressed surprise over the disinvestment in government companies, attacking the Modi government and saying that the government is destroying the heritage of public institutions in the country. Mamta tweeted and said - 'I am surprised to see the plans of the Central Government to target the heritage and heritage of public institutions. This is the end of the feeling of security. Opposing the plan to sell a part of the central government in LIC through IPO, he said, "I am shocked by it." Mamta also raised questions about disinvestment in Air India, BSNL, Indian Railways along with LIC.
For your information, let us tell you that Union Finance Minister Nirmala Sitharaman, while presenting the general budget for the year 2020-21, said that the government will sell some of its stake in LIC through IPO. In fact, the central government has full 100 percent equity in LIC, which was established in 1956 by an Act of Parliament. The Finance Minister has also announced the construction of four new railway stations on PPP model. Recently, the government also announced to sell 100 percent stake in Air India.
In the budget presented, the Trinamool Congress has strongly criticized the central government for withdrawing the concession in taxes. Trinamool national spokesperson Derek O'Brien said in a tweet: "The central government has removed the concession (incentive) for saving in a country where there is no social security." The government has withdrawn 70 of the 100 rebates in taxes. PPF, LIC, health insurance, etc. were exempted as an incentive for investment. Derek said - 'The government is misleading people by claiming new tax slabs and exemptions in the general budget'. Union Finance Minister Nirmala Sitharaman has announced a new tax slab in the budget. In this, people have been given the option of paying income tax from the old tax rates, although it has been said that about 70 concessions in taxes will have to be waived if the tax is paid at the new rates. Earlier, tax concessions were given on a total of 100 things like insurance, investment, medical, children's school fees, while 70 concessions have been abolished in the new tax slab.
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