Jaipur : People of all sections have high expectations from the first general budget of Modi Government 3.0. The preparations for the general budget have been completed by the central government. Rajasthan’s industry and trade also have high expectations from this budget, because after 5 years there is a double engine government at the center and the state again. Finance Minister Nirmala Sitharaman has indicated that the budget may focus on women, farmers and rural areas. People from every section, including employees, businessmen and students, are expecting relief from the budget. Nirmala Sitharaman will present the budget for the seventh time on Tuesday.
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For the economy, Rajasthan, the country’s largest state in terms of area, has to be developed. Here, centrally funded projects like DMIC, Petrochemical Complex in Barmer will have to be accelerated. Nirmala Sitharaman is also the chairperson of the GST Council along with being the Finance Minister, so in the budget, the government will remove the anomalies related to GST. A special package is needed for the upgradation of already established micro, small and medium industries, MSME credit card is also expected in the budget.
In developed countries, industries are being encouraged under the plastic recycling policy. The government can announce a centralized recycling policy in the budget (Budget 2024). Along with this, the obstacles in the payment of farmer subsidy should be removed.
Taxpayers may get relief
It is believed that this time many types of relief can be given to the taxpayers. Changes can be made from tax exemption to income tax slab. People are demanding that the deduction limit given in section 80C of income tax should be increased from 1.5 lakh to 2 lakh rupees.
Changes in tax slabs possible
There should also be changes in the tax slabs. There is a demand to increase the basic exemption limit to Rs 5 lakh in both the new and old tax systems. There is also a demand for tax exemption on HRA or deduction on home loan interest in the new system.
Lakhpati Didi scheme will get a boost
New measures to increase employment for the youth may be seen in the budget, while the government may announce huge investments to further the BJP’s plan of making women millionaires.
Every class wants relief
Demand to increase the limit of deduction for interest on home loans for common people to at least Rs 3 lakh.
To the youth…
The biggest pressure on the government is to create employment opportunities. Budget allocation for skill development and employment generating sectors is likely to increase.
In a scheme like Agniveer, more financial benefits can be announced for soldiers.
Women should…
Subsidy can be given from cooking gas to health services.
For the employed…
It is expected that the government will make changes in the income tax exemption limit. This will greatly benefit the middle class and working people.
Demand to increase standard deduction from present Rs 50,000 to Rs 1 lakh in old and new income tax system due to rising inflation.
The new pension scheme can be made attractive.
To the farmers…
The government can increase the Kisan Samman Nidhi from Rs 6,000 per year to Rs 10-12 thousand. A decision may be taken to reduce the GST rates on agricultural products.
The workers…
Wage days under MNREGA can be increased from 100 to 150 days. A decision can be taken to link MNREGA workers with the agriculture sector.
To the businessmen…
Under the National Retail Business Policy, accident insurance up to Rs 10 lakh is expected. The premium for this is estimated to be only Rs 6,000.
