With the success of NDA government in Lok Sabha election 2019, all eyes are set to the upcoming Union Budget 2019 where the new Finance Minister Nirmala Sitharaman will be presenting the budget 2019. Now that the government has full five years, there is a lot of hope build among different sectors in proposing the progressive economic reforms to boost the economy and create more jobs for common people.
A ‘Common Man’ is expecting a lot from the FM Nirmala Sitharaman in her budget speech which could outline the broad policy directive that Gol wishes to pursue in upcoming years. Now that there is an overwhelming majority of Bhartiya Janata Party (BJP) in Lok Sabha, there won’t be much of challenge from opposition; presidents can receive the support of a majority in the house to address the current issues.
There are some things that the ‘Aam Admi’ would really be expecting from the government in the upcoming budget such as increasing the basic exemption limit and rationalizing the income tax slabs. The government could also encourage the ‘common man’ in reducing the deduction on tax saving investments to channelize maximum savings into investment. This will help in promoting economic growth.
The employees who were working in the metropolitan cities like Delhi, Mumbai, Kolkata, and Chennai were struggling from the high rentals and fewer opportunities giving the population but not just these metropolitan cities other cities like Hyderabad, Bangalore, Ahmedabad, Pune, and Noida also become the cities with equally high-rentals. So, in comparison to current provisions in House Rent Allowance (HRA) in metropolitan cities, the government could also consider providing the higher HRA exemption in these other cities too.
Apart from this, the ‘common man’ cal also expects the deductions in the home loan interest and saving interest as well.
The ‘common man’ is waiting for the budget speech of FM Nirmala Sitharaman to give good news. Good news or not, but this would be the right time for the NDA government to thanks the ‘common man’ for choosing them as their leader once again.