Finance Minister Nirmala Sitharaman will present the general budget today at 11 am
New Delhi : The country’s general budget has to be presented today. The Union Cabinet will meet in Parliament on Monday at 10:15 am, in which the proposal to present the Union Budget for the year 2021-22 will be passed. After this, Finance Minister Nirmala Sitharaman will present the budget at 11 am. Several important announcements can be made in this budget to bring the deteriorated economy back on track due to the Corona epidemic. At the same time, people are expected to get relief from the government on issues like employment, tax concession, inflation.
– From housewives to farmers, many are waiting for the budget. Expectations from this budget are things like lower LPG gas prices, lower inflation, increased tax slabs and new job opportunities.
– Middle class has been troubled due to loss of jobs or salary cuts due to Corona. The middle class did not get anything special from the Rs 30 lakh crore relief package given by the government last year. So now the middle class has high expectations from this budget.
– For many years, there has been a demand that the basic tax exemption limit should be increased from 2.5 lakh to 5 lakh. In the 2019-20 budget, Modi government tried to exempt income up to Rs 5 lakh by giving a special rebate of Rs 12,500 for those with income between Rs 2.5 to 5 lakh, but permanently income up to Rs 5 lakh. Demand for tax exemption is being sought.
– Experts say that many companies have reimbursed the additional expenses of employees, but such reimbursement is taxed. Hence it is expected that there should be a system in place that can save tax on expenses.
– Experts about home loans say that the scope of tax exemption available on it can be increased. The benefit of tax exemption is expected to be increased under Section 24B.
– The middle class will benefit from the improvement measures that will be taken regarding vaccines and health. Establishment of several new hospitals will be announced.
– In the budget, traders are expected to get money from banks and financial institutions for business at low interest and on easy terms. Also, the formation of a National Trade Policy for Retail Trade, an e-commerce policy and an e-Commerce Regulatory Authority and a Voluntary Disclosure Scheme (VDS) are required to be announced in the demand budget.
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