Five major challenges in Budget 2022..?
Five major challenges in Budget 2022..?
Finance minister Nirmala Sitharaman will file the general budget on february 1st, 2022. She is also proud to be the first woman Finance minister to present a federal budget for the fourth time. The biggest challenge before the finance minister is to put the economy on a downward trajectory in the data-face of the corona pandemic. Apart from this, she data-faces many challenges, including reducing unemployment and increasing the incomes of farmers and small business owners.
Challenge 2: Controlling Inflation
Retail inflation rose to 5.59 percent in the country. Wholesale inflation stood at an all-time high of 13.56 percent. As inflation rises, people's purchasing power is affected. In order to control inflation in this budget, there is a need for the Finance minister to emphadata-size measures to increase spending.
The challenge is to strengthen the health sector during the corona pandemic and ensure that essential health services are available to the common man at affordable prices. Experts suggest that the finance minister should increase the budget for the health sector to at least 3 percent of GDP.
Challenge 4: Tax Deduction
The working class has been disappointed in the last several budgets. It is the desire of the middle class, who receive a monthly salary, that the government reduces the tax burden. But it will be a major challenge for the finance minister in this corona period when tax collection is on the rise and the economy is improving.
Challenge 5: Doubling the Income of Farmers
Prime minister Modi's long-held dream is to double the income of farmers by 2022. Farmers' dissatisfaction has led the government to repeal agricultural laws. In such a scenario, there is an expectation of what the announcement will be about farmers in this budget.
Finance minister Nirmala Sitharaman will file the general budget on february 1st, 2022. She is also proud to be the first woman Finance minister to present a federal budget for the fourth time. The biggest challenge before the finance minister is to put the economy on a downward trajectory in the data-face of the corona pandemic. Apart from this, she data-faces many challenges, including reducing unemployment and increasing the incomes of farmers and small business owners.
Challenge 2: Controlling Inflation
Retail inflation rose to 5.59 percent in the country. Wholesale inflation stood at an all-time high of 13.56 percent. As inflation rises, people's purchasing power is affected. In order to control inflation in this budget, there is a need for the Finance minister to emphadata-size measures to increase spending.
The challenge is to strengthen the health sector during the corona pandemic and ensure that essential health services are available to the common man at affordable prices. Experts suggest that the finance minister should increase the budget for the health sector to at least 3 percent of GDP.
Challenge 4: Tax Deduction
The working class has been disappointed in the last several budgets. It is the desire of the middle class, who receive a monthly salary, that the government reduces the tax burden. But it will be a major challenge for the finance minister in this corona period when tax collection is on the rise and the economy is improving.
Challenge 5: Doubling the Income of Farmers
Prime minister Modi's long-held dream is to double the income of farmers by 2022. Farmers' dissatisfaction has led the government to repeal agricultural laws. In such a scenario, there is an expectation of what the announcement will be about farmers in this budget.