New Delhi: Finance Minister Nirmala Sitharaman is going to present the budget in the Lok Sabha today. This will be Nirmala Sitharaman’s fourth budget. This is the second budget after the outbreak of Corona epidemic started in the country. This budget is coming at a time when the country is battling the third wave of the pandemic. For this reason, a lot has been expected from this budget from mango to special.
The Union Cabinet will meet at 10 am. The general budget will be approved in the meeting to be chaired by PM Modi. After getting the approval of the cabinet, the Finance Minister will present the general budget in Parliament at 11 am.
Rising inflation, problems of the agri sector and farmers, self-reliant India in the midst of growing threats, focus on defense, changes in tax rules and deduction etc. are important issues, on which special focus is expected to be given in this budget.
This will be expected from Nirmala’s budget:
1: In the budget, the focus of the Modi government can be on agriculture, farmers and MSMe. Recently, the Modi government has got to see great displeasure of farmers against 3 agricultural laws. In this too, this protest was very strong in the electoral states like Uttar Pradesh and Punjab. In such a situation, the government can make many big announcements for the farmers in this budget, as it did by bringing PM-Kisan scheme during the 2019 Lok Sabha elections.
2: Along with big gifts to small farmers, the money of PM Kisan Samman Nidhi can also be increased. It is possible to announce further strengthening of farmer producer unions financially. The budget of Kisan Pension Yojana is expected to increase.
3: Some concessions may be announced to promote the food processing industry. Food processing exports have registered an increase of 40 percent during the Corona period. MNREGA budget can be increased for employment in rural areas. There is little hope of increasing the tax exemption limit for the middle class and the working class. However, some other measures of relief can be seen in the budget. The government can give big relief to the MSMe sector to bring the economy back on track. This sector was the most affected during the Corona period.
4: In the upcoming budget, there may be special emphasis on infrastructure and investment, so that the pace of development can increase. It is also possible to cut the import duty of electronic goods in the general budget. The government will also emphasize on increasing demand and purchasing power.
first published:Feb. 1, 2022, 7:09 a.m.