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Union Budget 2021 fails to lift the poor people in the country
By: Tupaki Desk | 1 Feb 2021 10:45 AM GMT
Finance Minister Nirmala Sitharaman has presented the Union Budget for the Financial Year 2020 on Monday. The Union Budget 2021-22 carried high expectations of lending a helping hand to the middle-class people, who went through a dark period with the Covid-19 outbreak.
The Budget announced by Finance Minister came as a rude shock to the middle-class people, who expected a sigh of relief. Forget about giving a sigh of hope, the Budget will increase the problems of middle-class people.
The average taxpayers in the country hoped that the Union Government will make certain changes in income tax slabs, PPF limit, Section 80C exemption. Several experts have also requested the government to look into these areas so that, the money in the pockets of average salaried people will increase a bit.
Nirmala Sitharaman has not announced any changes in income tax slabs, PPF limit, Section 80C exemption.
Though the average taxpayers in the country didn’t get any relief with the Budget, the pension receiving senior citizens got a bit of relief as they need not file tax returns.
As if the existing high prices of fuel in the country, the Union Budget will sadden the middle-class people further. In January alone, petrol and diesel prices were increased by 2.59 and Rs 2.61 per litre respectively.
In the Union Budget, Sitharaman proposed a farm cess of Rs 2.5 and Rs 4 of Agri cess on petrol and diesel. The new proposal will increase the fuel prices further, In several states, fuel prices are inching towards the century mark.
To everyone’s surprise, Nirmala Sitharaman has announced that Life Insurance Corporation (LIC) and two public sector banks will be disinvested this year. This paves way for selling a part of LIC. LIC is one of the most profitable ventures of the union government.
Before the Union Budget, Nirmala Sitharaman said, the budget will be a never before one. She was right, no government has allowed FDI’s to capture a major share of stakes in the Public sectors.
Though the Budget has not allotted any significant funds for the states and sectors, four poll-bound states have received a flood of funds. The budget allotted ₹1.03 lakh crore, ₹65,000 crore, ₹95,000 crore for Tamil Nadu, West Bengal, and Kerala respectively.
Looking at the Union Budget 2021-22, one dialogue from Rajinikanth starrer Shivaji flashes in our mind, the poor get poorer and the rich get richer. The middle-class people were sidelined completely.
The Budget announced by Finance Minister came as a rude shock to the middle-class people, who expected a sigh of relief. Forget about giving a sigh of hope, the Budget will increase the problems of middle-class people.
The average taxpayers in the country hoped that the Union Government will make certain changes in income tax slabs, PPF limit, Section 80C exemption. Several experts have also requested the government to look into these areas so that, the money in the pockets of average salaried people will increase a bit.
Nirmala Sitharaman has not announced any changes in income tax slabs, PPF limit, Section 80C exemption.
Though the average taxpayers in the country didn’t get any relief with the Budget, the pension receiving senior citizens got a bit of relief as they need not file tax returns.
As if the existing high prices of fuel in the country, the Union Budget will sadden the middle-class people further. In January alone, petrol and diesel prices were increased by 2.59 and Rs 2.61 per litre respectively.
In the Union Budget, Sitharaman proposed a farm cess of Rs 2.5 and Rs 4 of Agri cess on petrol and diesel. The new proposal will increase the fuel prices further, In several states, fuel prices are inching towards the century mark.
To everyone’s surprise, Nirmala Sitharaman has announced that Life Insurance Corporation (LIC) and two public sector banks will be disinvested this year. This paves way for selling a part of LIC. LIC is one of the most profitable ventures of the union government.
Before the Union Budget, Nirmala Sitharaman said, the budget will be a never before one. She was right, no government has allowed FDI’s to capture a major share of stakes in the Public sectors.
Though the Budget has not allotted any significant funds for the states and sectors, four poll-bound states have received a flood of funds. The budget allotted ₹1.03 lakh crore, ₹65,000 crore, ₹95,000 crore for Tamil Nadu, West Bengal, and Kerala respectively.
Looking at the Union Budget 2021-22, one dialogue from Rajinikanth starrer Shivaji flashes in our mind, the poor get poorer and the rich get richer. The middle-class people were sidelined completely.
