Union Budget 2025: Trinamool Blames Centre for Bengal's Neglect, Criticizes FDI in Insurance
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Synopsis
The Trinamool Congress criticized Union Finance Minister Nirmala Sitharaman for neglecting West Bengal in the 2025-26 Budget proposals. The party highlighted political motivations behind the proposals, particularly in light of upcoming Bihar elections. Key figures also discussed the implications of proposed tax changes and the significance of foreign investment in the insurance sector.
Key Takeaways
- Trinamool Congress claims West Bengal is overlooked in the 2025-26 Budget.
- Abhishek Banerjee suggests proposals are politically motivated.
- Amit Mitra warns about the impact of inflation on tax changes.
- Concerns raised over 100% FDI in insurance without GST cuts.
- BJP refutes claims of deprivation in West Bengal.
Kolkata, Feb 1 (NationPress) The Trinamool Congress has accused the Union Finance Minister Nirmala Sitharaman of neglecting West Bengal in her budget proposals for the Financial Year 2025-26 that were unveiled in the Parliament on Saturday.
"Despite West Bengal sending 18 BJP Lok Sabha members to Parliament, the state remains overlooked. This time, West Bengal is entirely ignored as well. The Budget proposals offer nothing to the state government," stated Trinamool Congress's General Secretary and Lok Sabha member Abhishek Banerjee while reacting to the Union Budget proposals.
He further mentioned that the Budget proposals for 2025-26 appear to be merely politically motivated, considering the impending Assembly elections in Bihar.
"With Assembly elections in Bihar approaching, numerous proposals are directed towards that state. This government engages in actions that serve political interests rather than addressing the needs of the common people," Banerjee noted.
Regarding the proposed increase of the minimum tax slab from Rs 7 lakh to Rs 12 lakh in the new regime, along with a standard deduction of Rs 75,000 for salaried taxpayers, Banerjee indicated he would provide insights after thoroughly reviewing the Budget documents.
Amit Mitra, former West Bengal Finance Minister and current Chief Economic Advisor to Chief Minister Mamata Banerjee, remarked that the decision in the Budget proposal for 100% foreign direct investment (FDI) in the insurance sector, without any reduction in GST on insurance premiums, was influenced by international corporate pressures.
He also stated that the potential positive effects of raising the minimum tax slab will be largely diminished by the increasing inflation, as the Budget proposals for 2025-26 do not adequately address the critical issue of controlling inflation.
In contrast, State BJP President and Union Minister of State Sukanta Majumdar dismissed Banerjee's claims of West Bengal being neglected in the Budget proposals.
"The West Bengal government is obstructing the implementation of various Central welfare schemes in the state. The only focus of the West Bengal government and the ruling party seems to be confronting the Central government. Thus, their claims of deprivation do not hold merit," Majumdar asserted.
