Amritkal in the country, the budget will be rich or bad

02/02/2023

This is the last full budget of the Modi government before the Lok Sabha elections to be held in 2024. There are many expectations from the Union Budget, from the common man to the industry, after the Corona epidemic, the condition of India's domestic economy is better than other countries of the world, at present the Indian economy is the fastest-growing economy among the G20 countries, although There are big challenges like speeding up the recovery of the country's economy, reducing the debt burden, giving relief to the middle class and reducing the fiscal deficit. The year 2023 shows the time when India is entering the Amrit Kaal. In the coming 25 years, the year 2047 will come, which will be the 100th year of our independence.
The Modi government is setting the agenda for 2024 and the opposition is also preparing its pitch. Today, through the budget, the government put its economic policy in front of the country. There is also politics in the backdrop of this economy. The government has made a bet to please the middle class. Has opened his bag for the farmer's barn and the plate of the poor. This is the last full budget of the Modi government before the Lok Sabha elections to be held in 2024. There are many expectations from the Union Budget, from the common man to the industry, after the Corona epidemic, the condition of India's domestic economy is better than other countries of the world, at present the Indian economy is the fastest-growing economy among the G20 countries, although There are big challenges like speeding up the recovery of the country's economy, reducing the debt burden, giving relief to the middle class and reducing the fiscal deficit. The year 2023 shows the time when India is entering the Amrit Kaal. In the next 25 years, the year 2047 will come, which will be the 100th year of our independence.
In personal tax, the Modi government has given a big relief to the employed class. Now under the new tax regime, annual income up to 7 lacks has become tax-free. This exemption was earlier up to 5 lakhs. Under the old tax regime, the tax exemption limit has now been increased from Rs 2.5 lakh to Rs 3 lakh. There has also been a change in the tax slab. Now Rs 0 to 3 Lakh - 0, Rs 3 to 6 Lakh - 5%, Rs 6 to 9 Lakh - 10%, Rs 9 to 12 Lakh - 15%, Rs 12 to 15 Lakh - 20%, Above 15 Lakh On annual income - 30% tax will be levied. More incentives are now being given in the new tax system. With this, taxpayers will be able to shift from the old to the new tax regime without any hesitation, whose income is up to Rs 7 lakh, will not have to pay even a single rupee tax, but if their income increases from 7 lack to even one rupee, then they will have to pay tax.
Keeping in mind the need for 'Jan Bhagidari' through 'Sabka Saath - Sabka Prayas', this is a budget to give direction to a technology-driven and knowledge-based economy with a strong financial sector for the Amrit Kaal. These include inclusive growth, last-mile access, infrastructure and investment, unlocking potential, green growth, youth power, and the financial sector. Infrastructure development is very important for the development of the country. The investment made in important infrastructure related to road, rail, electricity, health, education, and agriculture will prove to be a milestone. Along with this, a special provision has been made in the budget to promote the vehicle scrapping policy. Provision has been made for several new schemes for farmers such as the Rs 2,200 crore Atmanirbhar Swachh Yojana program, alternative fertilizers, and the PM PRANAM scheme to promote the balanced use of fertilizers.
On the other hand, Madam Finance Minister is being praised a lot. 41 crore people were brought out of poverty and free ration to 80 crores poor. What is the population of the country? How many rich are there in the country? Just two? Or two hundred? Or two thousand or two lacks? Understand the economy without leaving rituals, faith, politics, and devotion, nationalism. It would be better if the students and teachers of the economist explain economics to us. The world is in the grip of a recession. Retrenchment is in the offing and our children have learned nothing except IT and computers for the last three decades. Now employment will be generated from a digital library for children. From start up? From a contract job? From FiveG? By artificial talent? The result of online classes is that school children are also committing suicide in love. There is no harm in living in. But violence against girlfriend after break up, crime? Drunkenness? Will agriculture development and development depend on NGOs and PPP?
Income tax will not have to be paid till the income of seven lakhs. You are welcome. The public has become rich. How many crore people have permanent jobs? Those whose income is above 15 lakhs, have to pay only 30 percent tax. Got something? Did you not understand the glory of tourism development from the goddess glory of Joshimath? How much inflation? What happened to the budget deficit? trade balance? financial losses? Inflation? How cheap, how much reconciliation will the treatment be from PPP Medical College and Nursing Home? Will the cost of education, energy, transportation, and groceries decrease? What is meant by investing in infra?
The reduction of Rs 30,000 crore in the budget of public welfare and very ambitious schemes like MNREGA in the budget presented for the next financial year prove that this budget is against the interests of landless farmers, poor laborers, and deprived sections. Similarly, instead of increasing the amount of the Agriculture and Farmers Welfare Fund, Rs 7500 crore has been cut this year, as well as the budget for Urea, which is most needed by the farmers, has been reduced by Rs 23000 crore this year as compared to last year.
(Research Scholar in Political Science, Poetess, freelance journalist, and columnist, Ubba Bhavan, Aryanagar, Hisar (Haryana)-127045. Views expressed are personal)

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