Budget 2022: From new schemes to infra boost, here’s how budget could benefit common man

New Delhi: Finance Minister Nirmala Sitharaman is all set to present her fourth budget on February 1. With a few days left, discussions of what could be announced with Budget 2022 have become the talk of the town. 

Last year, the finance minister had launched several schemes and policies to make the lives of the common man simple while pushing the growth agenda forward. From Self-Reliant Healthy India Scheme to Vehicle Scraping Policy, there were several announcements for the common man. 

With the coming budget too, the finance minister is expected to make announcements to speed up the economic recovery. Sitharaman could also make decisions to promote entrepreneurship in the country, according to a report by Zee Business.

Moreover, in the last budget, the government is expected to fix the tax exemption for taxpayers or if there would be a change in the tax structure for the next financial year – (FY 2020-23). 

In the last budget, the government had made no changes to the tax regime, meaning that no significant relief was announced for the taxpayers. The upcoming budget, however, could be different for the common man. 

However, the last budget announced a major relief for senior citizens. According to the new rule, taxpayers more than 75 years old and have income from pension and deposits can file for an exemption from an income tax return. 

In the upcoming budget, the government could also make new announcements to improve the education and healthcare infrastructure of the country. These decisions could help the children have a better life in India.

Moreover, the announcements related to infrastructures such as new highways, railways, airways, and waterways will make the lives of the common man more convenient than ever. Also Read: OnePlus 10 Pro launch next week: Here’s everything you need to know

Some of such schemes launched with the last year’s budget were Mega Investment Textile Park Scheme, National Hydrogen Energy Mission, PM Self-Reliant Swasth Bharat Yojana of 64180 crores for Health Infra, 35,000 thousand crores were announced for COVID-19 Vaccinations. Also Read: PAN Card Holders Alert! Do THIS or else face a fine of Rs 1,000: Details here

As a result, it’s critical for a PAN card holder to seed their PAN with their Aadhaar card number in order to avoid any penalties for missing the PAN Aadhaar connection deadline.

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Sagar Biswas

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