New Delhi:
https://www.youtube.com/watch?v=hgm_yyelwim
The country’s Finance Minister Nirmala Sitharaman presented the budget of FY 2025-26 today. Middle class has been given great relief in this budget. The Finance Minister has given taxpayers discount on income up to Rs 12 lakh. What does this announcement of the Finance Minister mean for the middle class and how this budget will affect the country’s growth and how it will affect the growth of the country, know the opinion of Lokjanta Editor in Chief Sanjay Puglia.
This RRR budget
This is a budget of RRR. This budget is a very response budget, a reformist budget and a revolutionary budget. As far as the country’s economy governance and political economy is concerned or the politics is concerned, it can be said that the election of Bihar has been announced today and the booth of Delhi was captured. Because after the budget of 1997, the middle class has been given such a big relief. Those whose income is up to 12 lakhs will not be taxed on the income. This is a big relief. At the same time, after 25 lakhs, there will be a tax of 30 percent. This relief is bigger than any ‘Revdi’, which is a non -responsable method.
The announcement of the Finance Minister in the budget has given relief relief to a large population. This will cause two things. The first is that the conjugation will be boost. This means that now you are giving a basis to the private sector to invest that let’s invest and increase the capacity. This will create jobs. If jobs are born, your growth will increase, which is our biggest need.
Capex did not increase much
I called it RRR because this response is because they are completely adamant on the promise on the number of fiscal deficit and the target of 4.4 fiscal deficit has been kept for the next year from 4.8. Capex has increased slightly for government expenses, investment and growth, although not extended too much. This tells the pattern of his responsible behavior, the Finance Minister has been continuously paying attention to it in so many years. The entire Modi government has always been very serious about fiscal prudence.
The second big thing is that it is power or mining or urban infrastructure, when the government is emphasizing to increase this economic engine. Apart from this, there are many pointed and targeted schemes about it to generate jobs at the ground level which is to be done at the level of agriculture and at the level of rural level. For example, in -100 districts, the Prime Minister Dhan-Dhanya Krishi Yojana, now it will be a booster dose that is implemented in the whole country, if worked in a targeted manner, it will make a lot of difference.
The third thing is that the government has put a lot of emphasis on the Ease of Doing Business, on the Compliance, on the Compliance, by making a big basis of conjunction and tax relief to increase domestic or foreign investment. It has been announced to remove many Burdons of Compliance for domestic and foreign investors. It is said about KYC that there was a lot of complexity, there was a lot of difficulty with that, they are fixing it.
100% FDI in insurance sector
There are many clauses which have been mentioned by the Finance Minister. Which will be related to FDI, so that multinational companies can come here and invest money. Similarly, increasing 100 percent FDI in insurance from 74, this is also a big step. I am calling it a revolutionary because this budget will give a lot of energy to that middle class, which is their very big voter section.
I called this budget a response because fiscal prudence has been taken care of, this is a big thing. Thirdly, this budget reformist is because we always used to talk that you do not trust people. In the Economic Survey written by Anant Nageshwar on Friday, it was critical on the governments in a very Griresius language that you do not trust people. You will not generate energy till you do the trust on them until the regulation does not reduce the regulation.
We used to think that what was said in the survey also came in the budget, it is not necessary, but in this budget, many revolutionary things of the survey have been implemented. No one had thought that the relief that has been given in the budget.
Middle class strength in budget
Middle class of the country, businessman, SME or shopkeeper or small -earned, these are the people who run the growth engine of India. When they are given energy, its impact is very large. If I talk about my hope from this budget, then tomorrow I was also saying in my house that I expect tax exemption up to 10 lakhs, but my daughter -in -law said that she expects a rebate of 12 lakhs. If I had made a bet, I would have lost. Because the matter of his 12 lakh came out right.
Tax exemption is a very big booster dose to ride a cycle of consumption and investment. It is obvious that political thinking is always behind it. In any democracy, the job of political leadership is to take care of your people or say your target audience. Along with this, it is also very important for the entire economic bicycle.
Most of India’s taxpayers in this tax relief category
This budget is not very clearly known, but in the global uncertainty, it has been taken care of how much we will grow from the internal factor’s external factor instead of. A very large base is being prepared to make our dependence more on internal. This tax relief amount may not be very big to hear right now, because urban people will be more salary, but most of the taxpayers of India come in it. Due to this exemption, tax base will also increase.
Personal income tax in India has already gone above corporate tax. Right now the number around 12-14 crores … Initially very few people used to pay tax, then how much was our tax collection and if we look at the current number, then there has been a big increase in it. Now people will be encouraged to pay more taxes.
Tax reduced legal troubles
The sword of compliance and criminal action is always hanging on the middle class and Sadhan people engaged in economic activity. This budget is clearly telling about it that about 50 percent of the compliance is going to be removed and a commission will be made for this, which will decide on it quickly. Similarly, now you can fill your returns for four years and update it, this is a big flexibility.
Nirmala Sitharaman used the term ‘Trust First, Scootnize Letter’ This is an approach and it is also very important. Because if you do not believe in people, then from where will you generate 10 percent growth and make you developed India.