Union Budget to generate employment, tackle recession: Sushil Modi

Bihar Deputy Chief Minister Sushil Kumar Modi on Saturday said the Union Budget 2020-21 will not only help in generating employment opportunities and income but will also be able to tackle recession in a better way.

After incorporating the 15th Finance Commission's recommendations in this year's budget, Bihar's share in central taxes has increased by 0.396 per cent from 9.665 per cent in 2019-20 to 10.061 per cent in 2020-21, said Modi, who also holds finance and commercial taxes portfolios in Bihar's NDA government.

With this, the state's share in central taxes has increased by Rs 15,000 crore from Rs 63,406 crore in 2019-20 to Rs 78,896 crore in 2020-21, he said.

The simplification of income tax slabs, besides several proposals with regard to small and medium sector enterprises and agriculture sector have been made in this year's budget, he said, adding that these measures would create employment opportunities, enhance people's income and give more money into people's hands to save and consume which would help in tackling the recession in a better way.

A host of opposition leaders, including RJD's Tejashwi Yadav, RLSP chief Upendra Kushwaha, former Bihar chief minister and HAM (S) president Jitan Ram Manjhi criticised the Centre's budget, presented by Finance Minister Nirmala Sitharaman, asserting that it did not contain anything for Bihar.