Is the Interim Budget a Voter’s Budget?
March 8, 2019
Budget 2019 has gotten a lot of attention as it moved beyond the normal vote-on-account, to seemingly full fledged budget.
There were three significant announcements:
– Rs. 6000 income support to small farmers
– Lowest Income Tax slab increased to Rs. 5 Lakh
– Announcement of a slew of social benefits like Pension etc.
To most people, these policy measures looked to appeal voter sentiments.
There is no doubt that the budget promotes consumption story amongst the middle class population. This is expected to touch 30 million small taxpayers and shall leave more disposable income in their hands. Most of these people would be residing in urban India.
The monthly pension scheme in the unorganised sector comes across as a long overdue decision and is a commendable step by the interim FM.
With almost Rs. 75,000 crore in supplied to the rural economy the budget lends some much needed support to the farmers with its scheme for farmers holding up to 2 hectares. This scheme at a fundamental level shall definitely a provide a boost to this segment of the population.
While the budget is expected to benefit 90% of the voters, the all important question remains is that will it vote the government back into seats of power.
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