Budget 2019 Preview: Universal Basic Income, Increase in Tax Exemption, Sops For Farmers Part of Final Pandora's Box?
Speculations are rife that the upcoming Budget will be populist -- a trait which experts claim to be missing from the last four Budgets presented under the Narendra Modi government.
New Delhi, February 1: The Interim Budget 2019, which will be the final fiscal policy to be rolled-out by this government, would be presented before a joint sitting of the Parliament today. Union Minister Piyush Goyal, who has been assigned the additional charge of Finance due to the ill-health of his senior Cabinet colleague Arun Jaitley, will be presenting his first Budget before the House.
As the fiscal policy announcement comes barely a couple of months before the Lok Sabha elections 2019, speculations are rife that the upcoming Budget will be populist -- a trait which experts claim to be missing from the last four Budgets presented under the Narendra Modi government. Ahead of Budget 2019, Sensex Up 600 Points, Nifty Surges by 161.
Universal Basic Income, Increase in Tax Exemption, Sops For Farmers Part of Final Pandora's Box?
Reports last month had claimed that the Centre is considering to implement the Universal Basic Income (UBI) programme ahead of the polls. The ante was upped against the Centre after Congress president Rahul Gandhi announced on Monday that he would be implementing a "Minimum Income Guarantee" policy if his party gets elected to power.
The Centre is reportedly concerned over the alleged disillusionment among the middle class. In a bid to boost the Prime Minister's popularity among the salaried section of the masses, the Finance Ministry could be increasing the tax exemption limit.
BJP's Maharashtra-based ally, Shiv Sena, had demanded the government to raise the exemption limit to Rs 8 lakh -- which is also being considered the base for granting the 10 per cent EWS quota to the general category.
Another section of the society, whom the government is expected to target through the Budget, is the agrarian class. While loan waivers are not on the cards as the Prime Minister has himself described them as poll gimmicks, speculations are rife that the government may present an income support scheme for the farmers -- on lines of the Rythu Bandhu project in Telangana.
Interest-free agrarian loans, or short-term credits without interest, could also be announced to woo the farmers ahead of the upcoming polls.
The Centre is also expected to increase allocations in the healthcare sector, for the smooth implementation of the Ayushman Bharat programme under the Pradhan Mantri Jan Arogya Yojana. An increase in expenditure for Education and Defence sectors is also on cards.
(The above story first appeared on LatestLY on Feb 01, 2019 12:02 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).