Union Finance Minister Nirmala Sitharaman presented the Union Budget 2024-25 to the parliament on Tuesday. The first Budget of Prime Minister Narendra Modi's government after the Lok Sabha Elections included announcements related to capital expenditure, income tax structure, infrastructure development, etc. The Union Budget has also sparked many reactions from people of different professions. Wisdom Hatch, founder Akshat Shrivastava, took to social media, to sum up the budget in one sentence.
“Budget in 1 sentence: Relax rahein. Tax bharte rahein. And, 70 hours/week kaam karte rahein,” wrote Akshat Shrivastava on X.
In a series of social media posts, Akshat Srivastava shared his reactions to several announcements made in the budget related to futures and options (F&O) trading, income tax, etc.
“The best career path in India (after today's budget): Rather than becoming a FnO trader, become a bridge/road contractor in Bihar,” wrote Shrivastava in another post on X.
“If today's budget is any indication: be prepared for a 30% Capital Gain on all assets soon,” he wrote in another post.
Several social media users reacted to Akshat Shrivastava's opinion about the recently announced budget.
“Work till your last breath, pay tax till your last penny and let govt give freebies for votes,” commented a social media user on his post.
“When RBI said banks are dealing with cash crunch it was very evident that the budget would try to move the cash from markets into banks,” wrote another user on X.
“Hamesha Stressed rahein. Kaam karein ya investment karein, Tax bharte rahein,” read another comment.
“The real minority of the country is tax payers,” wrote another user.
Finance Minister Nirmala Sitharaman announced an on-job internship and training program for youngsters under which nearly one crore youth will get internship opportunities in the top 500 companies over the next five years. As per the scheme, enrolled interns will be provided with internship allowance worth ₹5,000 per month.
Reacting to the announcement, Shrivastava suggested entrepreneurs looking to setup business in India to “recover the cost of internship by pricing pricing the products high”, or by setting up “shop outside India", or by getting “more tax rebates from the government”.
"Budget 2024: “Centre will give ₹5,000 monthly internship to one crore youth. Companies will bear the training costs; and 10 per cent of the monthly payments to students. Options for the entrepreneur? - Recover this cost by pricing the products high; Setup shop outside India; Get more tax rebates from the government,” wrote Shrivastava on X.
“I am giving you more context. Not supporting/criticising the move,” he added.
