Budget 2023: From hike in tax exemption limit to job creations, here’s a what middle class is expecting | In Pics
The government is in the process of finalising the Budget document to be presented on February 1. Ahead of the Union Budget 2023-24, Sitharaman said she identifies herself as middle class and also understands the problems faced that section of the people.
Union Finance Minister Nirmala Sitharaman is all set to present Union Budget 2023-24 in the Lok Sabha on February 1. The government is in the process of finalising the Budget document to be presented on February 1. Ahead of the Union Budget 2023-24, Sitharaman said she "identifies" herself as middle class and also understands the problems faced that section of the people.
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Budget 2023 is likely to be the last full budget of the Modi government in its second term with the next Lok Sabha elections due in April-May of 2024. Like every other sector, salaried class also have expectations from the upcoming Budget. Let's take a look at what middle class is expecting from Modi government in its Budget 2023.
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Amid the global COVID-19 outbreak, many lost their jobs. In the upcoming Union Budget 2023-24, middle class is urging government to emphasize on measures for jobs creations. (Representative Image: Shutterstock)
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Middle-class taxpayers expects a hike in basic exemption limit, from the current Rs 2.5 lakh to Rs 5 lakh, in Budget 2023. The taxpayers wants the income tax exemption limit to increase to Rs 5lakh, leaving more disposable income in the hands of the salaried class. (Representative Image: Shutterstock)
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Middle class demands to move tuition fees of children to a separate provision from the Section 80C deductions of Income Tax Act, which already covers a lot of things including investments/expenses and has a limit of Rs 1.5 lakh. (Image: Shutterstock)
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Middle class have a long-standing demand to increase the deduction for health insurance under section 80D from Rs 25,000 to Rs 50,000. (Image: Shutterstock)
