Budget 2020: Tempting, Not Effective Enough or Enough to Compete China
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For the last two years, the things which were being talked about to stagger the Indian economy may have been denied, but the government has accepted the figures reflecting same in the economic survey 2020. Of course, the government is blaming global economic slowdown, investment and demand for this, but in the end, it has assumed that economic sluggishness can be met only by increasing demand and investment. Indian population is largely characterized by middle class (middle income class) people who gets the most pleasure from the exemption in its net income tax out of any budget proclamation, as the money left over with them are utilized to meet their personal expenses.The government has cleverly announced the new tax regime, as they too feel that only the vast middle class of India will be able to bring back the hijacked Indian economy. Therefore, did not levy any tax on income up to five lakhs while increasing the income tax exemption limit. Of course, this amount will not