In less than three weeks, Finance Minister Nirmala Sitharaman will present the Union Budget 2023, and she pledged that the federal government will continue to support the middle class. According to Sitharaman, who is from a middle-class family and is aware of the challenges they confront, the BJP-led NDA government has not yet added any new taxes for the middle class in any budget.
u201cI belong to the middle class and identify myself as middle class so I can understand them. The Modi govt has not levied any new tax on the middle class in any budget so far,u201d Sitharaman was quoted as saying by a news agency. She further highlighted that no taxes are levied on people who earn a salary up to Rs five lakh. The government will continue to work for the middle class in the 2019 budget, the finance minister added.
Video Courtesy: HW News English
We brought the Metro to 27 locations, and the middle class uses public transportation the most. We’re concentrating on the objective of smart cities as many middle class people relocate to cities in quest of employment. Sitharaman remarked, We will keep working for the middle class. The government might not have the flexibility to fulfil all of the aforementioned objectives, nevertheless, as India’s GDP growth in FY24 may be hampered by the deteriorating global economic climate.Experts anticipate lesser spending in the budget and the potential for a rise in customs duties on select goods given the fiscal deficit’s current state and the current account deficit’s (CAD) nine-year high. The administration is expected to refrain from offering any direct tax relief, despite the possibility of expenditure to support rural and infrastructure industries.
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