NEW DELHI: Union Finance Minister Nirmala Sitharaman is going to present the last full budget of the second term of the Narendra Modi government in Parliament on February 1.
As this will be the last full budget of the Modi government before the 2024 Lok Sabha elections, it is being said that the election glimpse will be apparent in the budget. Former Congress president Rahul Gandhi and other opposition parties are expected to make the budget an issue in the elections. Looking at the preparations and record of the government regarding the budget, it is being said that the Modi government can majorly increase the total amount allocated to welfare schemes. The BJP government, which has been facing constant attacks from the opposition parties on the issue of unemployment, will be focusing on increasing employment opportunities in its upcoming budget. More emphasis will be placed on increasing employment opportunities in urban and rural areas. For this, along with basic infrastructure, a special announcement can be made for small and medium industries.
The funds allocated for the Mahatma Gandhi National Rural Employment Guarantee Act, the biggest source of employment in rural areas, will also be increased this year. Along with farming, special announcements for agriculture and other areas related to it are expected. The government will increase its expenditure to ensure that along with the increase in employment in rural areas, the income of the people also increases, which will boost the economy. The government can make important announcements in the budget to provide relief to the people from inflation.
Giving great relief to the taxpayers, along with announcing a reduction in income tax rates, the government can make a big announcement on the GST front in this budget. In view of the upcoming Lok Sabha elections, the government can give some relief to the middle class, employed income tax payers and government employees as well as small and medium businessmen.
It may be full of populist schemes and promises to woo voters. (IANS)