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- Budget of Modi government 2.0, can get 50% more money for employment and house
New Delhijust moments ago
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Finance Minister Nirmala Sitharaman will present the last full budget of the second term of the Modi government on February 1 next year. The ministry has also started its preparation. According to reports, in the budget of the financial year 2023-24, the expenditure on welfare programs being run in rural areas can be increased by 50% to Rs 2 lakh crore. The increased amount was used to overcome the sluggishness in the rural economy in the wake of the Corona pandemic. The government had allocated Rs 1.36 lakh crore to the Ministry of Rural Development for the current financial year. However, this expenditure may increase to more than Rs 1.60 lakh crore.
Before the likely Lok Sabha elections in the month of April-May 2024, the central government is not only focused on increasing employment, but it is also focusing on promoting the affordable housing scheme.
Expenditure-budget both increased, but unemployment rate 8.04%
After Corona, there was an increase in the number of people getting employment through MNREGA in the villages. The unemployment rate remained above 7% in the current financial year. It is at 8.04% in November. A budget of Rs 73 thousand crore was kept for MNREGA this year. Later it had to be increased to 98,000 crores.
If the budget is increased by 50% then the biggest increase will be
- 2019-20 Rs 1.17 lakh crore. 4.46%
- 2020-21 Rs 1.20 lakh crore. 2.56%
- 2021-22 Rs 1.31 lakh crore. 9.16%
- 2022-23 Rs 1.36 lakh crore. 3.81%
- The amount can be increased by 50% in the next budget.
From review of capital gains tax rates to suggestions to reduce income tax rate
- Decriminalize GST law.
- Capital gains tax rates should be reviewed. There should be changes in its rate and holding period.
- The rates of personal income tax should be reduced. This will increase the disposable income of the people and increase the demand cycle.
- Corporate tax rate to remain at current level.
- Capital expenditure remained at 3.3% to 3.4% of GDP. In the current financial year it was 2.9%.
This will be the last budget before the general elections, so the focus will be on increasing employment.
Economist SC Gulati says that after the next budget, the government has to face the general elections of 2024. It is expected that the focus will be on increasing employment in the budget. For this, expenditure on infrastructure, small and medium industries and banking sector can be increased. With the increase in investment in these three sectors, the economy will not only gain momentum, but also the employment opportunities will also increase. Apart from this, the government will increase the expenditure in the agriculture sector, so that rural demand can be increased.