Image Source : UNSPLASH Union Budget 2023 will be presented on February 1.
As the Indian government prepares to present the Union Budget 2023, the country’s middle class is calling for tax relief and job creation measures to support their economic well-being.
The middle class, defined as those earning between Rs. 2.5 lakh and Rs. 20 lakh per annum, has been hit hard by the economic impact of the COVID-19 pandemic. Many have lost their jobs or seen their incomes decrease, making it difficult to make ends meet.
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Tax Relief
In order to support this crucial segment of the population, the government needs to focus on providing tax relief for the middle class. This could include increasing the income tax threshold, which currently stands at Rs. 2.5 lakh for individuals, to provide more disposable income for households to spend on essentials and save for the future.
Job Creation
Additionally, the middle class is calling for job creation measures to be a key focus of the Union Budget. The pandemic has led to widespread job losses, leaving many middle-class families struggling to make ends meet. The government must take steps to create jobs in key sectors such as manufacturing, technology, and infrastructure to provide opportunities for the middle class to earn a livelihood.
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Furthermore, the middle class is also seeking measures to improve the standard of living, such as affordable housing and better healthcare facilities.
Overall, the Union Budget 2023 needs to prioritize the needs of the middle class in order to support their economic well-being and help them weather the ongoing economic crisis. By providing tax relief and job creation measures, the government can help the middle class to achieve financial stability and security in the long-term.
FAQs:
Q: What are the main concerns of the middle class in India ahead of the Union Budget 2023?
A: The main concerns of the middle class in India ahead of the Union Budget 2023 include the rising cost of living, lack of affordable housing, healthcare, and the need for more job opportunities.
Q: What measures do the middle class hope the government will implement in the Union Budget 2023?
A: The middle class is hoping that the government will implement measures such as tax relief, subsidies for essential goods and services, and increased investment in infrastructure and job creation in the Union Budget 2023.
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