Expressing disappointment over Finance Minister Nirmala Sitharaman's 160-minute Budget speech, RJD leader Tejashwi Yadav, on Saturday, said that the budget had no 'special package for Bihar'. Taking a jibe at BJP-JD(U) Bihar government, Yadav said he expected a lot for the state due to their 'double engine government'. Slamming the Modi govt, he claimed that Budget reflected the Centre's bias towards Bihar.
In this budget there are no words on special package, no new initiatives or projects for Bihar. We anticipated a lot for our state since there is a double engine government at helms. This #Budget2020 is a reflection of discriminatory intent of the Modi government towards Bihar.— Tejashwi Yadav (@yadavtejashwi) February 1, 2020
JD(U) recently expelled poll-strategist and party Vice-President Prashant Kishor and spokesperson Pavan Varma for alleged 'anti-party' activities, months ahead of Bihar's Assembly polls. While Kishor has stated that he will speak about his future plans in Patna on February 11, Tejashwi's brother - Tej Pratap has already invited Kishor to join Rashtriya Janata Dal (RJD). Incidentally, Kishor is also the poll strategist for AAP's Arvind Kejriwal's re-election bid.
Union Finance minister Nirmala Sitharaman tabled the Union Budget for the year 2020-2021 on Saturday. Delivering the longest budget speech for over 160 minutes, Sitharaman announced a number of schemes and policies aimed at strengthening the economy under the Modi government. In a major decision, the Finance Minister announced a Life Insurance Corporation of India (LIC) will be listed as part of the government disinvestment initiative and the government will sell also its stake in the IDBI bank.
The government also announced a new 'optional' tax regime by slashing income tax rates and abolished DDT. To safeguard investors she also announced an increase in insurance cover for each depositor from Rs 1 lakh to Rs 5 lakh. The Finance Minister said that the three themes on which the Budget 2020 was based were: aspirational, economic development, caring society.