The focus will be on tax cuts, employment and reform, this may be the government budget this time

The new government has been formed and now soon Finance Minister Nirmala Sitharaman will present the full budget. From the common people to taxpayers and working people, there are many expectations from this budget. In such a situation, let us know how the full budget is going to be this time in Modi 3.0.

The new government has been formed, Narendra Modi has once again become the Prime Minister of the country with the NDA alliance. The previous government presented the interim budget of the country on February 1, now that the new government has been formed, Finance Minister Nirmala Sitharaman will soon present the full budget. There are many expectations from this budget from the general public to taxpayers and working people. In such a situation, let us know how the full budget is going to be this time in Modi 3.0.

The round of consultations has begun regarding the budget to be presented next month. But according to the indications received so far, the BJP manifesto and election results may be reflected in this year's budget. Among all these, the maximum focus may be on providing employment, reforms, taxpayers and the middle class.

The budget could be like this

According to information received from sources, the category on which the maximum focus will be in the full budget may be the middle class. The most direct way to provide relief to the middle class is to give relief in income tax. However, till now the government's stance has been that the new tax regime will provide relief to the middle class. But there is a section among the policy makers who believe that more needs to be done on the income tax front. This can also increase the consumption growth that has declined. Similarly, providing subsidy on home loans is also considered a good option. This will not only provide cheap houses to the common people but will also give a boost to real estate and related sectors.

It is worth noting that in its manifesto, BJP has also made promises like reducing the cost of construction of houses for the middle class, reducing the registration cost. In such a situation, the government can increase its focus on this.

What is special for taxpayers

According to sources, in the budget, people earning Rs 15 lakh annually are expected to get relief in income tax. At present, in the income tax slab, 5 to 20 percent tax has to be paid on annual income up to Rs 15 lakh. Similarly, on income above Rs 15 lakh, tax has to be paid at the rate of 30 percent.

Focus on employment

One of the issues on which the budget is going to focus can be employment. For this, there is going to be an emphasis on promoting the manufacturing sector. At the same time, the government seems very excited with the success of the Production Linked Incentive Scheme. According to sources, some new sectors can also be included in this by expanding the scope of this PLI scheme. For example, products like toys, furniture can be included. To increase employment, there can be a focus on promoting service sectors like tourism and startups in small and medium cities. An internship program can also be started to combine academic and practical skills.

Apart from all this, many promises made in the BJP's manifesto-Sankalp Patra-may be seen coming true in the budget. The focus of which may be on villages and farmers.