Bumper exemption in income tax, yet the middle class is unhappy with the budget, what is the reason – why middle class is not happy with budget 2023 announcement

New Delhi. Finance Minister Nirmala Sitharaman has given something or the other to every section in the budget. At the same time, by increasing the exemption limit in income tax, he has given a big relief to the taxpayers. After the announcement of the general budget of 2023-24, on the one hand, the entire middle class is happy with the huge exemption in income tax, but is not feeling relief from inflation. The middle class sitting in the hope of relief from inflation has been disappointed. Talking to IANS, Vimla Devi, a homemaker living in East Delhi’s Geeta Colony, said, “I don’t see any difference in the budget, because there is no difference in the prices of basic commodities like flour, pulses, rice.” What has the government done for the middle class? According to me, the inflation should have come down, which has not come down. Inflation will not come down just by getting relief in personal tax.

On the other hand, Jagmohan, another employed youth from Delhi, said that every family has a lot of hope from the budget that the government will bring some relief for the common man. The middle class has got some relief in ITR but this is a jumla. In seven years, this relief was slightly less than expected. Instead of reducing its expenditure, the government has been putting robbery in the pocket of the common man. After the Corona crisis, the middle class family did not get any special relief other than the government scheme. This time the government could have given some more relief.

Anil Kumar, who lives in Delhi’s Laxmi Nagar, said that increasing the income tax limit from Rs 5 to 7 lakh in the budget is a good step. This will have an impact on key areas as well, due to which the family will be able to manage their monthly income. The government has increased the income tax limit, but has abolished the income tax facility available on savings and home loans. This is a bit disappointing. Along with this, if the government had reduced the prices of petrol-diesel and other items of daily needs, then perhaps inflation would also have been reduced because they have a direct impact on inflation.

A shopkeeper Pintu further said, as far as I understand, this entire budget can be of far-reaching consequences. There has definitely been a drop in the prices of some appliances, but we were expecting discounts in essential daily use items as well. If the government prepares the budget only after taking the opinion of experts, then its results will be clear in the coming days that how successful the government was.

It has been announced to start Shree Anna Yojana for the farmers. Under this, encouragement will be given to grow coarse grains. Emphasis is on increasing the yield of jowar, bajra and ragi. Perhaps the government’s intention behind this is to give relief to the farmers.