Budget 2022: What does the common man want?

S Venkateshwari
Budget 2022: What does the common man want?


Employed people have many expectations from Union Budget 2022, which is set to present budget on Feb1,2022. Every year people have many expectations from the government before the budget is presented. The salaried people have many expectations from this time's budget as well. Due to the Corona epidemic, the last few times have been full of difficulties for the people of the job seeker. In such a situation, it is expected that this time the government will pay special attention to the job seeker and can give some exemption from tax to savings to the salary earners.

 

1. Expected Change: There has been no change in the tax limit for the last several years. Taxpayers hope that this year the government can make some changes in this limit and the employed people can get relief.

2. Tax Exemption Limit May Increase

For the last 8 years, the Tax Exemption Limit is only 2.5 lakhs. For a long time, taxpayers have been demanding to increase it up to 5 lakhs. It is believed that this year the government can give some relief by making changes in it. Sources say that it can be increased from 2.5 lakhs to 3 lakhs.

3. Tax exemption under section 80C remains the biggest attraction for salaried people. This government has increased the fixed limit of 1 lakh to 1.5 lakh. In this budget, the employed people from the government are expected to increase it to 2 lakhs.

4. indian Banks Association has suggested to the government to reduce the lock-in period of tax-free FDs. It is believed that the government can accept this suggestion. people expect that the government can keep a lock-in period of 3 years for tax-free FD.

5. There is a lot of interest in savings schemes of middle-class salaried people. The schemes like sukanya Samriddhi of this government have been well-liked by the middle class. Now the employed people are hopeful that in this budget there will be some announcement regarding the savings schemes. 


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