Lacking Consumption Push

There is always anxiety among the people when it comes to Union Budget, for, it tunes finances and futures for the coming year. It is also true that the budget has gradually lost its significance with the government getting into a regular habit of announcing key measures and policies outside the budget. However, this year, there was a huge expectation among the salaried class about cuts in personal income tax, something that has not happened since July 2014. This is not a priority area for the government and a very small vote bank considering that a mere two to three per cent of the population actually pays income tax. This amounts to under three crore people out of a population of about 130 crore. The Union Budget 2020-21 though did address this long-standing expectation of the people. But will it be of any help for the tax paying public? Finance Minister Nirmala Sitharaman, on one...