Nearly 64 percent of respondents want the government to use this Budget to introduce tax measures
The Union Budget is around the corner and there has been speculation that the Narendra Modi government may release a full-fledged budget as opposed to a vote-on-account usually released in an election year. Many, including former Finance Minister Yashwant Sinha, have said the process is unconstitutional and improper, but what does the public think?
A survey conducted by LocalCircles in over 200 districts of the country showed that 66 percent of Indians want a full budget instead of an interim one, with agriculture, housing for the middle class and skill development as focal points. Nearly 64 percent of the respondents also want the government to use this Budget to introduce tax measures.
The survey noted that 71 percent of Indians do not want the government to extend any agriculture loans waivers in the Budget on February 1. The Congress party had announced massive waivers before state elections in 2018. As of now, the central government has not launched any such scheme, but there have been rumours of a big relief plan for farmers in this Budget.
As many as 73 percent want to abolish the ‘angel tax’, which refers to income tax payable on capital raised by unlisted company via the issuance of shares. This tax has bugged startups and private companies as it directly impacts investment.
Almost 49 percent people believe that farmers in distress must be helped out first and the Budget must allocate funds to innovative agriculture practices. Other areas to focus on would be women and child safety and protection of the environment.Nearly 64 percent are in favour of the government considering Universal Basic Income (UBI) as a means to tackle unemployment in the country.