Nirmala Ji Jara Suniye :Plea for higher tax sop, cut in LPG price

Hyderabad: With the economy is doing well, and the government wants to carry forward the momentum to the next financial year, the common man, particularly the salaried class, has high expectations from the Union Budget 2023-24. It is the salaried class that contributes a major share of India's tax collection but receives fewer exemptions and has to bear the brunt of price rise. Against this backdrop, Hans India tried to elicit the views of common people, especially employees, on the upcoming budget as well as their expectations.

This section is expecting an increase in the limit for Section 80C deduction (now capped at Rs 1,50,000) in the wake of high inflation and the need to ensure more personal savings and investments. The last increase in this limit was about a decade back. Since 2014 there has been no change in the income tax slabs. "We know Union Budget for the Financial Year 2022-23 is aimed at strengthening the infrastructure with its focus on a lot of priorities but as a taxpayer, my suggestion is that there should be no tax up to an income of Rs 10 lakh. The price rise is high and the salaried class is not benefited by the present tax structure," said Surendra Uplenchiwar, an IT employee.

Another employee Sunil Reddy said that given the debilitating impact of high inflation, the government should hike the exemption limit on individual taxes so that people with lower income groups would get some solace. If the tax structure is made more attractive for the common man, it would also help them in making greater savings. The Centre should also take measures to reduce the prices of LPG and fuel, he added.

Ahmed Khan, a government school teacher, said fund allocation in the Union Budget last year for the education sector had helped in improving the facilities in schools. But there is a need to focus on infrastructural development.

Sneha Rao, a housewife said, she is hopeful that the Union Budget will bring down the rising prices of daily provisions and the price of LPG gas which directly impacts the monthly household budget. At least this year, there should be some measures to bring down the price of domestic gas cylinder, she added.