Thrust To Technology Driven Economy But Middle Class Only Got Debates On TV?
WITC
Government after disinvest of many established PSU's, organizations Air India including partial privatization of railways, public issue of LIC soon is to be issued. The disinvestment of profit-making institutions is still not understood. Though the projected Growth rate is 9.2%, 25000 KM New roads proposed, 60 lakh new jobs promised to be created but nowhere mentioned that during last year's how many created and privatization of government jobs also reduced the number of jobs, the introduction of PPP model for Railway likely to affect middle class further. Development, ECLGC extended to 50k crores, Initially, it was proposed to provide Nal Jal to 50 thousand crores houses, reflecting that that was only propaganda. The introduction of 400 new Vande Bharat trains also seems that no increase of facility in normal trains but here also middle class will have to lose more money. proposed. Though 80 lacs new houses proposed under PM Aawaas yojana but this is also not for the middle class. Encouragement to Organic farming, 19,500 crores proposed for manufacturing PV solar, sovereign green bonds for green infrastructure,5G mobile service, Central bank digital currency - digital Rupee using blockchain by RBI,1lac crores allocated to states as loan over and above normal borrowing, revised deficit 6.9% of GDP, New updated returns, proposals to rectify omissions updated returns with additional tax payment within 2 years, for cooperativeb@15% from current 18.5% , surcharge on co-operative reduced 12% from 17% on income of1 crores to 10 crores. No repetitive appeal by the government till the decision of questions of law already pending before the High court/ Supreme Court is for the upper class.TDS @ 1% on payment of virtual digital assets. The most important factor for which the middle class always looks towards government is tax relief but again no change in Income Tax Slabs. Many debates will be on the proposals, benefits, loos, and gains but ultimately middle class will be only engaged in debates because the government is for the poor and affluents only. However, if attention is paid to the other side of the budget, the budget has attempted to give wings to the Technology Sector and thereby transforming the economic picture of the country to a technology-driven economy and digitally equipped. Opening the doors for startups and promoting the Drone Shakti project and most importantly facilitation of rolling out 5G in the country. These are some signs which make this budget focused more on transformation or modifications than on middle-class households. It also seems that some big objectives and big projects are in the government's pipeline and for that, some necessary and foresighted steps need to be taken. Now, how much progress and the desired output is yielded by these allocations that time will tell.
