Union Budget 2024-2025: Amidst the changed political equations, the government can give special benefits to the lower and middle class through ambitious schemes

People of all classes have high expectations from the first general budget of Modi Government 3.0. The government can give special benefits to the lower and middle class through ambitious schemes. There are also discussions about increasing the income tax exemption limit for employed people and making changes in the slabs.

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Amidst the changed equations, this budget is also full of challenges for the government due to the demands of the allies of their states. There is pressure on the central government to put something in the pocket of every section. Since the elections of four states are ahead, the people of these states also have hopes on the budget.

Politically, the government also has to make efforts to woo the voters. Therefore, some big announcements can be made in the general budget on July 23.

Who is expected to get what

For the employed…

– It is being speculated that the government will make changes in the income tax exemption limit. This will benefit the middle class and the employed people.

– Also, the New Pension Scheme can be made more attractive, about which the government employees are unhappy till now.

For the farmers…

– The government can increase the Kisan Samman Nidhi from Rs 6,000 per year to Rs 10-12 thousand.

– A decision can also be taken to reduce the GST rates on agricultural products.

For the laborers…

– Under MNREGA, the wage days can be increased from 100 to 150 days.

– A decision can also be taken to connect MNREGA laborers with the agricultural sector.

For the youth…

– The maximum pressure on the government is to create employment opportunities. Therefore, the budget allocation for skill development and employment generating sectors is likely to increase.

– In a scheme like Agniveer, an announcement can be made to give more financial benefits to the soldiers.

Women…

- For the betterment of women, subsidies can be given for everything from cooking gas to health services.

- The government can also consider giving tax exemptions to women, these exemptions can be quite different and can depend on factors like marriage, employment status and parental responsibilities.

The challenges before the government are also not less

Shared budget: This is the first shared budget of the NDA government. In this, the government has the challenge of fulfilling the demands of JDU and TDP. Both the parties have demanded financial assistance for Bihar and Andhra Pradesh.

Assembly elections: Elections are to be held in Jharkhand, Maharashtra, Haryana and Jammu and Kashmir by the end of this year. In these states, the youth are angry with the government on the issue of employment while women are angry with the government on the issue of inflation. Through the general budget, the government will try to balance the electoral equations.

Middle class: One of the reasons behind the results of the Lok Sabha elections not coming as per the expectations of the BJP is believed to be the anger of the middle class. In this time's budget, the government will also have the challenge of retaining the vote bank of the middle class.

Youth: The main reason for the youth's resentment towards the government is said to be limited employment opportunities and schemes like Agniveer. In this regard, there will be a challenge to please the youth in the budget.