Ahead of the Union Budget, the finance ministry had invited suggestions from the people on the MyGov portal from 26 December 2021 till 7 January
The Union Budget 2022-23 is set to be presented by Finance Minister Nirmala Sitharaman on 1 February. The annual financial statement, which represents the estimated expenditure and receipts of the government of India in respect of every financial year, will be presented at 11 am on 1 February.
The presentation will be held during the Budget session of Parliament, which is set to begin on 31 January.
Before the Budget is presented in Parliament, it needs to be formally approved by the Cabinet. After that, the Budget is presented before both houses of Parliament.
Ahead of the Union Budget 2022-23, the finance ministry had invited suggestions from the people on the MyGov portal. Over 3,000 suggestions have been submitted to the Centre on various issues related to the Union Budget, as per data from the MyGov website. The online portal had opened the window for suggestions from 26 December 2021 to 7 January this year.
What are the major demands of citizens?
- According to a Business Today report, the government received a lot of suggestions about spending more on the health and sanitation sectors.
- Citizens have also demanded an increase in exemption under the Income Tax Act for salaried people.
- Several individuals have also suggested an exemption on long-term capital gains taxes.
- Many citizens have suggested that the government should provide an increase in income tax exemption for senior citizens under 80 TTB.
- Many have suggested lowering of the taxes on fuel prices.
- Besides, a few have asked cryptocurrencies be legalised by the Centre.
- Suggestions to improve employment prospects in sectors such as tourism and small businesses have also been received.
Some Budget expectations:
The Centre is expecting a 9.2 percent GDP growth for the Financial Year 2021-22, as per reports. While the government is anticipating economic recovery due to the ease in COVID-19 restrictions and various other factors, the rapid spread of the Omicron variant may hamper these prospects.
Source: firstpost.com
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