Budget 2024: GST, Healthcare, Inflation Woes Haunt; Is Burden Of Tax On You? скачать в хорошем качестве

Budget 2024: GST, Healthcare, Inflation Woes Haunt; Is Burden Of Tax On You?

In a Mirror Now debate focusing on Budget 2024, Sandeep Chachra, Executive Director of ActionAid Association, analysed about whether Budget 2024 provided relief to India's middle class. Sandeep acknowledged positive steps in the budget such as incentives for first-time job seekers, employment-linked benefits, and improvements in EPFO contributions. He emphasised the significant allocation of ₹2 lakh crores for job creation over the next five years, with a substantial portion directed towards rural and urban infrastructure, likely benefiting contractors and companies. Expressing reservations, Sandeep pointed out that despite skill gaps and the employment challenges faced by youth from the middle classes, they are expected to gain the most from these initiatives. He also discussed tax benefits, including raised standard deduction limits and simplified compliance burdens, but raised concerns over property tax and GST implications, noting GST's regressive nature. Addressing food inflation concerns and the allocation of 3 crore houses for both urban and rural poor, Sandeep questioned the stock market's reaction, suggesting a disconnect between market responses and the broader societal impacts of the budget. He posed critical questions about the budget's benefits for the working class, particularly those in the informal sector like agricultural workers, construction workers, street vendors, and fisherfolk, who may not benefit equally from its provisions. In his critique, Sandeep argued that while there are some positives like investments in agriculture and rural infrastructure, the budget predominantly favours the middle class, potentially exacerbating disparities and leaving out millions in the informal working class. Telecast On: 24 Jul 24