Itanagar, Mar 1: The Union budget for 2006-07 presented by Finance Minister P Chidambaram has evoked overwhelming response in Arunachal Pradesh.
Lavding the budget which has presented yesterday, senior Economics lecturer of Dera Natung Government College (DNGC) A I Singh said, "It is an excellent budget for the North east (NE) with an 18 per cent hike for the region. Moreover, increase in funds for various schemes such as Rajiv Gandhi Drinking Water Mission, National Rural Health Mission and Sarva Sikshya Abhiyan will immensely benefit the region." The process of implementation would be the key factor in availing the benefits, observed Mr Sahsikant Sharma, Head of Department of Commerce, DNGC, adding that Mr Chidambaram had to walk a tight-rope to strike the golden mean to protect the interests of UPA alliances keeping in mind the forthcoming Assembly elections.
Welcoming the budget as a product of coalition ideology, Arunachal Chamber of Commerce and Industry chief advisor B K Gosh Dostidar said no increase in personal tax, exemption of fixed deposit up to Rs 1 lakh from tax and reduction of VAT rates from 12 to 8 per cent on LPG cylinders were sops for the middle and lower strata population.
"The huge revenue earned from VAT served as a boon for Mr Chidambaram to make the right equation and spare the Indian population from additional taxes. Thus, the VAT rates should be made uniform in all states," he said.
Manmohanomics was the key to march forward towards globalisation without harming interest of the masses, commented senior journalist Pradeep Kumar.
Most of the political parties also welcomed the Union budget, terming it as 'perfect'.