Lucknow: Reacting to the Union Budget presented by the central government, the Uttar Pradesh Yuva Vyapar Mandal has described it as an attempt to strike a balance between development priorities and social welfare. While welcoming several people-centric measures, the organisation noted that the expectations of traders and entrepreneurs regarding tax relief and retail sector support remain unmet.
Budget Attempts Balanced Approach
Commenting on the budget, Vikas Jain, State President of Uttar Pradesh Yuva Vyapar Mandal, said that the central government has made a clear effort to present a balanced budget this year. According to him, the overall structure of the budget indicates an intention to address multiple sectors simultaneously while maintaining economic stability.
He stated that the focus on long-term development rather than short-term populism is evident in several provisions. The budget, he said, reflects an approach aimed at strengthening the social and economic foundation of the country.
Strong Emphasis on Education and Health
Vikas Jain highlighted that education and healthcare have received special attention in the budget. He said that increased focus on these sectors is essential for building a strong and skilled future workforce and for ensuring social security. Investments and policy emphasis in education and health are expected to yield long-term benefits for society and the economy.
He noted that prioritising these sectors demonstrates the government’s recognition of their role in inclusive and sustainable development.
Girls’ Safety Measures Welcomed
Welcoming steps taken for women and child safety, Vikas Jain said that the proposal to build girls’ hostels in every district is a positive and much-needed initiative. According to him, this move will enhance safety, access to education, and mobility for girls, especially in smaller towns and districts.
He said that such infrastructure will encourage higher participation of girls in education and help address concerns related to accommodation and security, which often act as barriers to continued studies.
Reduction in Tax on Foreign Education Appreciated
Another measure welcomed by the organisation is the reduction in tax on foreign education. Vikas Jain said that lowering the tax rate from 5 percent to 2 percent on foreign education is a constructive step. He noted that this decision will reduce the financial burden on families supporting students pursuing education abroad and reflects a more considerate approach toward educational aspirations.
Traders’ Expectations Remain Unfulfilled
Despite acknowledging the positive aspects of the budget, Vikas Jain pointed out that traders and entrepreneurs had expected some relief in taxation. He said that the business community was hopeful of concessions in certain taxes that would ease operational pressures and improve cash flow.
According to him, the absence of tax relief measures has led to disappointment among traders, particularly at a time when markets are adjusting to rising costs and competitive pressures.
No New Announcements for Retail Market
Vikas Jain also expressed concern over the lack of specific announcements for the retail sector. He said that traders were expecting new initiatives or policy support aimed at strengthening the retail market, which plays a crucial role in employment and local economies.
He stated that the absence of fresh measures for the retail segment could pose challenges, especially for small and medium retailers who are facing changing consumer patterns and increasing competition.
Mixed Reaction from Trade Community
Summing up the reaction, Vikas Jain said that while the budget includes several welcome steps in education, healthcare, and social welfare, it falls short of addressing key demands of traders and entrepreneurs. He described the budget as balanced in intent but incomplete from the perspective of the business and retail community.
He added that the Uttar Pradesh Yuva Vyapar Mandal will continue to engage with policymakers and raise issues related to taxation and retail sector support to ensure that the concerns of traders are adequately addressed in future policy decisions.
Overall, the organisation views the budget as a combination of positive social initiatives and missed opportunities for trade-focused reforms, reflecting a mixed but constructive response from the business community.
