Budget 2022: Mahabharata shloka FM Nirmala Sitharaman quoted in her budget speech; meaning, connection
FM Nirmala Sitharaman thanked the taxpayers of the country who have contributed 'immensely and strengthened' the hands of the government in helping their fellow citizens in this hour of need.
FollowUnion Finance Minister Nirmala Sitharaman quoted a shloka from Mahabharata during the budget speech on direct tax. The Finance Minister quoted the shloka from Shanti Parva Adhayaya of Mahabharata; she skipped reading it further, citing time constraints. However, she read out the English translation in her budget speech.
While presenting the Union budget, Sitharaman thanked the taxpayers of the country, who have contributed 'immensely and strengthened' the hands of the government in helping their fellow citizens in this hour of need.
The Shloka in Sanskrit, Sitharaman skipped,
dāpayitvākaraṃdharmyaṃrāṣṭraṃnityaṃyathāvidhi |
aśeṣānkalpayedrājāyogakṣemānatandritaḥ ||
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Meaning: The kind must make arrangements for the welfare of the populace by way of abandoning any laxity and bu governing the state in line with Dharma, along with the collecting taxes which are in consonance with the Dharma.
The connection of the shloka to taxation, Sitharaman claimed that India continues to progress by drawing wisdom from its ancient texts like Mahabharata. She also said proposals in the Union budget 2022-23 plan to bring more reforms while continuing the government's declared 'stable and predictable tax regime.' She highlighted that the proposals for direct taxes would take ahead the government's vision to establish a trustworthy tax regime.
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Sitharaman also added this will further simplify the tax system, encourage voluntary compliance by taxpayers, and reduce litigation.
As per Sitharaman, the government has not proposed any changes to the income tax rates and slabs, citing the policy of a "stable and predictable tax regime." However, the government proposed a new provision that would allow taxpayers to file an updated return on additional tax payment within two years of the end of the relevant assessment year.
Financial Minister Nirmala Sitharaman presented her fourth budget in the Lok Sabha. She began her speech by expressing sympathy for those affected by the Covid-19 pandemic and its economic effects. She stated that the Budget would lay the groundwork for the Indian economy's next 25 years.
