Imminent after a few months The new budget is going to come on the first of February before the Lok Sabha elections. There may be announcements for the benefits of common people in this last budget of the second term of Modi government. Experts are of the opinion that the government's focus in the budget will be on increasing consumption. For this, the Finance Minister can announce some such measures, which will bring more and more money into the hands of the common people.
These announcements can be made in the budget
News agency PTI According to a report, when Finance Minister Nirmala Sitharaman will present her sixth consecutive budget on February 1, it is expected that she will focus on measures to boost consumption and rural economy while keeping inflation under control. One way to boost consumption could be to get more money into people's hands. The other way can be to reduce the tax burden by increasing the scope of standard deduction or by changing the tax slab.
These proposals are also before the government
to reach the common people. Regarding providing more money, there is also a proposal that more funds should be put in MNREGA, the employment guarantee scheme for rural areas, or the money should be increased in the help given to the farmers. Some additional announcements can also be made in the budget for women and other marginalized communities. All these methods can prove helpful in promoting consumption.
Less hope of change on the tax front
Since this time's budget is an interim budget, adopt another method. There is little hope of going. Generally there is no change regarding tax in the interim budget. In such a situation, there is little scope for increasing the standard deduction limit or any change in the tax slab. New schemes are also not started in the interim budget. This means that the government is left with the options of taking measures to increase consumption only through old schemes.
The full budget will come after the elections
Interim budget is needed in election years. It is focused on meeting the essential expenses of the government during the transition period between the old government and the new government. The financial year ends in March. The tenure of Lok Sabha is ending in May. In such a situation, it may take time for elections to be held and a new government to be formed thereafter. For this reason, necessary expenses for the four months from April to July will be arranged in the interim budget. The new government will bring the full budget later.
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