Government may put Covid-19 surcharge in budget coming amidst epidemic
The Union Budget of the country is going to be presented in less than a month. The government has already stated that this budget will be completely different. It will be designed keeping in mind ‘Self-reliant India’. In such a situation, the experts of economic matters are making many speculations about the 2021-22 general budget. Now, according to the new estimate, the government can also include a Covid-19 surcharge in the budget.
Government needs funds
Samco Group’s research head Umesh Mehta believes that the government may impose Covid-19 surcharge on account of revenue deficit and heavy expenditure for the corona vaccine. Umesh Mehta, who has more than 20 years of experience in the stock market, said that this budget could be beyond the expectations of investors. In a media interview, he said that the government needed funds. It is already raising funds by selling stakes in government companies under disinvestment.
India ready to lead global growth
During an event in December last year, Finance Minister Nirmala Sitharaman said that India is ready to lead the global growth. This clearly means that the government will increase its spending. This requires demand and investment. In such a situation, the government will strengthen small taxpayers financially to increase demand and may also make some changes in the tax slab. On the other hand, the government is already attracting foreign investment under the Production Linked Incentive (PLI) scheme for investment.
‘Self-reliant India’ will be in focus
The government announced last year to help 10 major sectors under the Production Linked Incentive (PLI) scheme of about Rs 2 lakh crore in the next 5 years. These include pharma, telecom, automobile, auto components, textiles and food products. The government believes that this scheme will not only create new jobs in these sectors, but will also improve the manufacturing sector and will be of global standard. Foreign investment will also increase.
In October last year, the cabinet had approved the implementation of PLI in 10 sectors. Apart from this, there may also be some announcements in the budget for migrant laborers, who have been badly affected due to the epidemic. According to government sources, this time budget will be prepared keeping in mind ‘Self-reliant India’.
