The Modi government will present the last budget of its tenure on Thursday. Finance Minister Arun Jaitley will have seven hopes for the common man of the country …
1. Tax:
The exemption limit on income tax will be increased by existing 2.5 lakhs. Increase the tax rebate in existing tax slabs of income tax. For this, where 10 percent of the tax currently takes place, it should be 5 to 7 percent.
2. Agriculture: The
first step to double the income of farmers should be raised as a minimum support price increase. To handle the deteriorating situation of agriculture, other things including pesticides, fertilizers, seeds and electricity will be cheaper.
3. Home:
To increase the tax exemption on home loan so that the cost of buying the house can be reduced. Stamp duty can also be relieved. Real estate comes under GST, it can be cheaper to buy a home.
4. Petrol-Diesel:
Increase the excise duty on petrol and diesel to get relief from rising prices. Adequate arrangements for bringing petrol and diesel under GST are in the budget.
5. Savings:
Exemptions on investment under section 80C can be increased to more than 2 lakhs. In addition to the existing scheme in this scheme, Low Risk Bond Schemes should also be included.
6. Car:
GST rates on cars should be reduced. So that they are cheap to buy. With the promotion of electric cars, keep these GST rates at 5%.
7. Education: There is
a need to increase the exemption of education loan interest rate for the current 8 years. Increase budget allocation to improve the condition of education sector in the country.
