Finance Minister Nirmala Sitharaman today unveiled the country’s economic budget. Even before this budget came, people had high hopes. Nirmala Sitharaman said, “This budget will be the best budget of the century, while PM Modi has pointed out that, ‘This is no more than a mini-budget, there should be low hopes. This budget has fulfilled the hopes of many but there are also many who have been disappointed. So here we will know who lost and who won in this budget.
Who won this budget?
The highest budget for the health sector
The health sector has been the first to benefit from this year’s budget, which was allocated Rs 2.38 lakh crore. The health budget has made a profit of 135 per cent. Earlier it was Rs 94,000 crore which has now been increased to Rs 2.38 lakh crore.
Great relief even to the elderly
This time the budget has given a big relief to the elderly. People over the age of 75 will no longer be taxed. However, the condition is that the exemption is being given to them only on pension and not on any other earnings. That is, any other type of earnings will remain under tax.
Increased FDI in banking and insurance sector
In the current budget, FDI in the insurance sector has been announced at 74 per cent, up from 49 per cent earlier. Apart from this, a charter for investors has also been announced. At the same time, a separate company is being set up to remove the bad debts of the banks, which will take the bad debts from the banks and sell them in the market. It is hoped that a lot of jobs will be created in the banking and insurance sectors.
Who lost in this budget?
The working class was left in despair
This budget has been for the worst job seekers. It has long been hoped that the budget would increase the exemption limit under Section 80C and increase the exemption on earnings up to Rs 2.5 lakh. This hope was being raised because, for about 7 years, there was no increase. The last time this tax exemption limit was increased from Rs 2 lakh to Rs 2.5 lakh was in July 2014 and the tax exemption limit on investment under Section 80C was increased from Rs 1 lakh to Rs 1.5 lakh.
Nothing for the common citizen
In general, this budget was not for the common man. There has been no announcement of relief to the common man. On the contrary, due to the imposition of customs duty and surcharge on all items, many items, including mobiles, are becoming more expensive. So for the general public, this time the budget has been disappointing.
Nothing special for women
Finance Minister Nirmala Sitharaman had hoped that she would do something special for women. It was hoped that efforts would be made to empower women but after listening to the budget speech, it seemed as if no special attention was paid to women in this budget.