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SJM voices concern over Budget’s ‘lack’ of push to employment

Swadeshi Jagran Manch voiced its concerns over “very limited efforts” unveiled in the Union Budget towards “creation of employment” and “promotion of small scale industry”. However, it hailed the overall exercise as “growth oriented” with sufficient push for development of infrastructure of various kinds including digital.

“We understand that there is an urgent need to promote self employment in the country, for which the central as well as state governments need to push entrepreneurship development programs (EDPs), infuse more funds and seed capital for small businesses, which can motivate the youth to start their own enterprises. There is a need for an Entrepreneurship Development Centre in each district of the country,” SJMsaid a day after the Union Budget was presented in the Parliament.

SJM, though welcomed the scheme for enhanced lending to MSME sector by extending the guarantee cover for such loans, it said, “we feel that government support by way of equity subsidy is something which is urgently required

SJM’s statement camea day after the BJP hailed theUnion Budget with a televised address of Prime Minister Narendra Modi callingthe exercise as one which will give wings to the ambition of the youth and targetsproviding basic necessities to the poor and the middle class. The Prime Minister also said that the Budget will create new opportunities for jobs and growth.

While the SJM welcomed the announcement of the issue of Central Bank Digital Currency (CBDC), it made an unequivocal pitch for the ban on cryptocurrency. 

“Though the budget 2022-23 has provided for taxing the income from the virtual digital assets at the rate of 30 per cent and taxing gift of virtual digital asset at the hands of recipients, Swadeshi JagaranManch firmly believes that looking at the dangers tonational security, the menace of money laundering and other related jeopardies emanating from the transactions in cryptos, ban on private crypto currencies is the only solution,” SJM said

The SJM’s media statement issued under the header ‘Union Budget: 2022-23- Good for Growth, but lacks push on employment’said while it is appreciative of the Budget for its push for natural farming, zero budget farming and organic farming, and also welcomes the government’s announcement to declare 2023 as National Millet Year, it, however, feels instead of limiting the “chemical free farming’endeavour to only a limited area, it should be extended to more parts of the country, where “only limited chemicals are being used”in farming

“Farmer Producer Organisations (FPOs) are our new rural startups and there is an urgent need to simplify the formation of FPOs. including reducing the membership requirement to 50. Fiscal support for new FPOs is also urgently needed,” the SJM said

SJM said that the Manch believes that giving a push to PM Gati Shakti Master Plan can go a long way towards more efficient infrastructure and reduction in logistic cost to make the economy competitivewhilequantum jump of 35 per cent in capital expenditure, taking capital expenditure in the Budget to over Rs 7.5 lakh crore, can improve the future growth prospects in the country


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