Union Budget 2022: People Seek Tax Reduction, Jobs, Economic Support As 3rd Wave Begins

Barring tax reduction, the second-most debated topic was job creation, as unemployment remains a major concern due to Covid-induced restrictions and disruptions

New Delhi: As the Budget is approaching, expectations of the people can be gauged from their suggestions in various government portals.  

The central government, like every year, has asked for suggestions/advices from the people on the MyGov website. According to reports, the Centre had invited suggestions from the people for the Budget on December 26. The last date of submitting suggestions was January 7.

According to the MyGov website, more than 3,000 suggestions were received. The main thrust of all the suggestions were on job creation, tax reduction, and economic support in the Budget.

The Union Budget will be presented by Finance Minister Nirmala Sitharaman on February 1.  

Some users are of the opinion that standard deduction limit for the salaried class should increase to give relieve to taxpayers from rising inflation.

One user named Dhiraj Dwivedi said in his suggestion, “Connect all the financial institutions with the government agencies. So, that competent authority can get the banking details of defaulters (especially in tax-related matters) and direct institution through that unified system only to deduct/transfer the amount instantly to the government’s account.”

Another user named Ramasamy Rengarajan said, “Tax avoiders, evaders and defaulting borrowers to be severely dealt with.”

As Covid cases are rising and restrictions coming into force, the taxpayers are expecting to get some relief in the upcoming Budget.

Some users have requested the government to simplify the GST rates and further reducing excise duties on petrol and diseal.

Barring tax reduction, the second-most debated topic was job creation, as unemployment remains a major concern due to Covid-induced restrictions and disruptions.

According to the recent data from the Centre for Monitoring Indian Economy (CMIE), the unemployment rate in India hit a four-month high in December.

According to a news report in Reuters, the unemployment rate rose to 7.9 per cent in December from 7.0 per cent in November, its highest since 8.3 per cent in August.

Economic activity and consumer sentiment have been hit in the country after a rise in cases of the Omicron coronavirus variant, social distancing restrictions, and lockdowns in many states.

Urban unemployment rate rose to 9.3 per cent in December from 8.2 per cent in the previous month, while the rural unemployment rate was up 7.3 per cent from 6.4 per cent, the data showed.

According to experts and economists, third wave of the pandemic could reverse the economic recovery seen in the previous quarters.

The central government had already announced several stimulus packages to boost the economy, which was battered by the first and second wave of the pandemic.