A non-event budget, which is a good thing
Hindustan TimesThe average middle-class person has two expectations from the budget. We saw episodes of this in the 2010-12 period when inflation reached double digits on the back of unbridled borrowing that reached 41% of the total government expense in the financial year 2009-10. While borrowing and interest costs remain high, we are seeing a responsible use of the borrowed money to create capital assets rather than being used for freebies like farm loan waivers or increasing subsidies. Another one was about the “lakhpati didis” — the one crore women who through the self-help group route become lakhpatis. One move that will clear the clutter of petty tax cases is the withdrawal of tax demands on the large number of “petty, non-verified, non-reconciled or disputed direct tax demands, many of them dating as far back as the year 1962” for amounts up to ₹25,000 up to the year 2009-10 and up to ₹10,000 for financial years 2010-11 to 2014-15.
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Interim Budget 2024: Your guide for understanding all key terms
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