Everybody loves a good budget. Finance Minister Nirmala Sitharaman kept her fifth and the government’s last full Union budget before the 2024 Lok Sabha polls short and simple. Those looking for big reliefs may have been disappointed, but the government made sure that its key ‘constituencies’—especially the middle class and women—benefitted or can look forward to the fruits of development. The two headline-making announcements—income tax sops for the salaried class and the increase in capital expenditure to rev up economic growth— will keep voters happy, for now.
The last time the government announced sops for the salaried class was during the interim budget presented on February 1, 2019, two months before Lok Sabha polls. Then, the tax exemption limit was raised to ₹5 lakh. Now, with little over a year to go for Lok Sabha polls, the government has revised the tax exemption limit upwards to ₹7 lakh. Unlike in 2019, the salaried class would have enjoyed the benefit of lower taxes before casting its vote in 2024. The government will forgo ₹35,000 crore in revenue.
Esta historia es de la edición February 12, 2023 de THE WEEK India.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 8500 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición February 12, 2023 de THE WEEK India.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 8500 revistas y periódicos.
Ya eres suscriptor? Conectar
Indira's Bang
How Indira Gandhi secured the borders, ended food import, before going for the test
Who's Afraid Of A New Nuclear Doctrine?
It has been 50 years since Pokhran I. With its capabilities increasing and global power equations changing, does India need to look at reviewing its nuclear doctrine?
I don't think things will change because of the win
When independent filmmaker Payal Kapadia’s All We Imagine As Light scripted history by winning the Grand Prix at the 77th Cannes Film Festival, it was not just a proud moment for the film's team, but also a triumph for the collective aspirations of women across the country.
Sid for kids
As a child, Sidhartha Mallya wished he had someone in his life to tell him what he wants to convey in his latest children's book, Sad Glad
Ready to roll
Following the Pokhran tests, India has operationalised a credible deterrent that the nation should be proud of
Breaking nuclear apartheid
How India protected its ability to move ahead with the nuclear weapons programme despite not signing the NPT
Power point
The Pokhran tests launched India's march towards being a full partner and participant in the global nuclear order
Shock and awe
India’s comprehensive capability in the nuclear domain is the result of its autonomous pursuit of the atomic programme against all odds
Spied on none, stole from none
A senior scientist during the Pokhran test in 1974 and chairman of the Atomic Energy Commission during the tests in 1998, Dr Rajagopala Chidambaram has been a key figure in the Indian nuclear journey.
Leader with a difference
ARVIND KEJRIWAL'S RETURN TO JAIL APPEARS IMMINENT. BUT HIS BLISTERING POLL CAMPAIGN MAY HAVE BRIGHTENED INDIA BLOC’S PROSPECTS
