Round of pre-budget meeting is over, demand for cut in income tax to increase employment opportunities

Budget 2023: On Monday, November 28, 2022  Finance Minister Nirmala Sitharaman’s eight pre-budget meetings with different stakeholders before the presentation of the budget along with meeting with Labor Organization and economists The round is over. During this, the Finance Minister has also separately held a pre-budget meeting with the State Finance Ministers and listened to their demands. 

Relief in income tax!
In the pre-budget meeting, the Finance Minister has been demanded to provide relief to the taxpayers by reducing the income tax in view of inflation, as well as to rationalize the tax system. There has been a demand to make. Apart from this, there has been a demand to bring schemes to increase employment opportunities, especially in urban areas, to bring an employment guarantee scheme on the lines of MNREGA. The Finance Minister has been demanded to increase the expenditure on infrastructure, green certificate scheme for MSMEs.  

Demand for tax reduction on electric vehicles!
Finance Minister has been entrusted with the demand to reduce tax on electric vehicles, bring electric vehicle policy, make India a hub of green hydrogen. There has also been a demand to bring portable social benefit scheme for children, unorganized sector workers under ESIC. A demand has been made to the Finance Minister to reduce custom duty and reduce fiscal deficit.  

The budget will be presented on February 1, 2023!
According to the Finance Ministry, a total of 110 representatives from the group of 7 stakeholders have participated in 8 meetings. In which Agriculture, Agro Processing, Industry, Infrastructure, Climate Change, Financial Sector, Capital Markets, Services and Trade, Social Sector, Trade Union. Labor organizations and economists have participated in the meeting. However, major trade unions of the country refused to attend the meeting in protest against the virtual meeting and short time given to speak despite the end of the Corona restrictions. However, it is believed that on February 1, 2023, Nirmala Sitharaman will present her fifth and the last full budget of the second term of the Modi government. 

 

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