Everyone in India is looking forward to the Union Budget 2011-12 with a lot of expectations. The Union Budget will be presented in the Parliament on February 28, 2011 by the Union Finance Minister Mr. Pranab Mukherjee. The common people of India have plenty of expectations from this budget.
In India, inflation or price rise is a major issue that is affecting every common household. People are expecting that government will take fruitful measures to curb inflation. People are also interested to see what measures the government is adopting for lowering fiscal deficit and checking price rises.
Given below are the expectations that the common public have from the Union Budget 2011-12:
Income tax exemption: It is expected that the exemption limit will go up. Income tax slab should be increased to ` 250,000 for individual males, to ` 300,000 for individual females, and to ` 350,000 for senior citizens. To promote saving of common people, the deduction limit u/s 80C must be raised from ` 1,00,000/- to ` 2,50,000.
Inflation: Hopes are high that inflation will be tackled in a proficient manner
Agricultural sector reforms: A number of reforms are going to take place in the agriculture sector, which include bigger investments in agricultural sector, measures for preventing hoarding in essential commodities, development in cold storage chains and agricultural logistics, investment in research and development sector in agriculture, drainage and water management, and areas associated with agricultural stimulus. Farmers are looking for relief.
Infrastructure growth: People are also hoping that stress will be put on infrastructure growth.
Food security: Food security is a burning issue and the Central Government will take care of it through introduction and implementation of various schemes
Social sector spending: It is anticipated that social sector spending in domains like primary education, primary health, family welfare, and law and order will go up.
Employment: Increasing number of jobs is what Indian people are looking at.
Public Distribution System: The Public Distribution System and rationing infrastructure should be freed from irregularities.
Corruption: With so many scams around, corruption is a major problem in the country, which should be curbed tactfully.
Fuel Price: Deregulation in fuel prices has resulted in price hike. It should be kept in check.
Last Updated on 05/12/2011
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