What is it in the Union budget you looked out for?
In one sentence – It is a wake-up call for Aam Aadmi !
I know! I know! you’d say, everyone is an economist today and has a view on budget. But, incidentally, I am not here to rant or praise the nuances of the great ‘Amrit Kal announcements’.
Today, I saw a different government, different minister who carefully announced the budget perfecting the texture and contouring ‘vibrant and confident India’. FM didn’t lure with tax sops for investing more in mutual funds, insurance and PPF.
Today, she addressed the budget for ‘Young India’ who wants freedom of choice, options on platter and decide ‘who they are’ and ‘what they want’.
—FM did take a note of the inflation and doubled the senior citizen deposits and monthly income schemes to reduce the frown lines of the pensioners.
— Announced Mahila Samman Savings certificate for 2 years – likely to improve savings habit in women
— FM raised tax slab limit to 7 lakhs who choose the nex-tax regime, while making it a default option.
This third announcement is what I found ‘remarkable’. Though it is definitely to lure and woo the salaried class to get into the next tax regime. But, moreover, this is a statement for the ‘aam nagrik’, a paradigm shift in the government’s approach. It is the decision to ‘choose what you want to do with your money’. Save/ invest/ spend on luxury. ‘It is not govt’s burden to coax you into savings, but its your choice – you want to live for today or save for tomorrow’. ‘You are mature, you vote, you earn, you live as you like.’
To summarise, for me, Union Budget 2023 was [voice of GOI 😉 ] ‘There are many opportunities at your disposal, we have taught and nurtured you for years on what is good for you. Today, You are grown up Indian, your well-being is your responsibility,’.
‘If you are illiterate, blame parents n govt, but, if you are financially illiterate, you yourself are to be blamed.’
