Is It An Interim Budget 2019???
Lok Sabha elections 2019 is due after few months. The Budget was presented today by Finance Minister Piyush Goyal will be referred to as an 'Interim' Budget.
Hence the Budget should essentially be the government's financial plan for three-four months before the government that takes office after the elections prepares a full Budget for 2019-20. The new government will have the freedom to change the Interim Budget estimates when it presents the final Budget. This is the convention that Interim Budgets is presented before the country goes to the polls. This is also the convention that the governments of the day avoid major policy announcements or taxation proposals.
The government of the day seems to have violated the convention by announcing a range of reliefs, sops and benefits especially for middle-class families and salaried people, the major one being the rebate on income tax on the income of up to Rs 5 lakh.
FICCI is very happy as the tax exemption in interim Budget will help corporate India in the consumption that will arise in the economy because of money freed up in the hands of salaried class.
It is the last full Budget of the government of the day in the run up to the 2019 Lok Sabha elections. The government very cleverly tried to announced her populist tactics for vote pulling in coming 2019 election.
Most humiliating for the farmers has been a pittance of Rs 6000 per year per farmer family, in three installments, that comes to about Rs 17 per day to those farmers having less than 2 hectare land holding, under Pradhan Mantri Kisan Samman Nidhi,.
Take it from me, it is a full-fledged cover-up budget for not benefiting the lowest denominator of the country -- a lollipop budget instead of interim one full of day-dreaming jumlas with assured U-turns if the same government again comes to power.
Hence the Budget should essentially be the government's financial plan for three-four months before the government that takes office after the elections prepares a full Budget for 2019-20. The new government will have the freedom to change the Interim Budget estimates when it presents the final Budget. This is the convention that Interim Budgets is presented before the country goes to the polls. This is also the convention that the governments of the day avoid major policy announcements or taxation proposals.
The government of the day seems to have violated the convention by announcing a range of reliefs, sops and benefits especially for middle-class families and salaried people, the major one being the rebate on income tax on the income of up to Rs 5 lakh.
FICCI is very happy as the tax exemption in interim Budget will help corporate India in the consumption that will arise in the economy because of money freed up in the hands of salaried class.
It is the last full Budget of the government of the day in the run up to the 2019 Lok Sabha elections. The government very cleverly tried to announced her populist tactics for vote pulling in coming 2019 election.
Most humiliating for the farmers has been a pittance of Rs 6000 per year per farmer family, in three installments, that comes to about Rs 17 per day to those farmers having less than 2 hectare land holding, under Pradhan Mantri Kisan Samman Nidhi,.
Take it from me, it is a full-fledged cover-up budget for not benefiting the lowest denominator of the country -- a lollipop budget instead of interim one full of day-dreaming jumlas with assured U-turns if the same government again comes to power.
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