Know how budget is going to create an impact in your finances

Different aspects in budget, such as big policy announcements, allocation to different schemes ministries, and the changes in tax laws can impact your life

- DIPAK MONDAL

THE government will table the Union Budget on 23 July. Media is already abuzz with reports that the government will take steps to leave more money in the hands of the common man by way of income tax relief. But changes in income tax provisions alone would not impact you, the budget as a whole can impact your finance directly or indirectly.

There are different aspects to the Union Budget - big policy announcements, allocation to different schemes and ministries, earnings and expenditure estimates, and the changes in tax laws. All these can impact your life in some or other way. We list the ways the Budget announcements impact you and your finances in the long run.