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Middle class feels let down by the Budget
Economy

Middle class feels let down by the Budget

Agency News

New Delhi, Jul 5: After Finance Minister Nirmala Sitaraman presented the budget for 2019-20 on Friday, hope and stagnation both appeared on faces of the people while for some it was business as usual.

The middle-class seem to be neither happy nor surprised with government maintaining its stand similar to what it was in the earlier budget for the income group. While speaking, a marketing executive said that this time too the budget seems to offer nothing much for the middle class. However, rather than keeping the taxable annual income of more than Rs 5 lakh, the government could have extended the relief to 8 to 10 lakhs as the cost of living was increasing, particularly in metropolitan cities.

Similarly, a person working for a private firm said the pace at which the life is moving forward these days with technology and so called advanced practices, expenses were automatically going upwards. Everyone appreciated the move for housing for all. However, people also expressed that there is nothing wrong in having more schemes for the poor and for those who live in the villages but some more schemes aimed at the middle class, the largest tax paying segment could have been better.

A rickshaw-puller when asked about his reaction over the budget , said ' first of all I have no understanding on how schemes and such things function and can be availed' , secondly, when he was told about the housing scheme for all, he replied that schemes would mean something only when he could get a house for his family.

Similarly, a working professional said that the situation of real estate needs several corrective measures as a number of fly by night operators were active in the field. He said the government should do something more in this sector and have strict monitoring regulations in real estate. (UNI)