It was that time of year when Indians wait with bated breath to know about their financial fate and future. When the Finance Minister Nirmala Sitharaman presented the Union Budget 2021 everyone had an opinion about it. The Sensex surge was welcome but the possibility of a fuel price hike was not. The tweeple had much to say about these points and more about #Budget2021:
Income taxpayers in the taxable bracket were wondering if there would be any relief. Turns out there will be no change.
Many of us, particularly those with training in commerce or a head for numbers were in expert mode.
Those who don’t have a head for numbers were all at sea.
For most of us, it’s been a difficult year: businesses have shut down, people have suffered salary cuts, job losses and some have nearly gone bankrupt because of medical bills.
The middle class had high hopes from the Finance Minister but their hopes were not rewarded.
#Budget2021 has placed a lot of emphasis on privatisation.
Roads and airports will be privatised and the sale of two banks – most likely Bank of Baroda (BoB) and Punjab National Bank (PNB) – is on the anvil.
Adani and Ambani were trending on Twitter because this is being seen as a budget that will further enrich the super-rich.
The budget imposes a new Agriculture Infrastructure and Development Cess (AIDC) on fuel and other commodities, so people expect fuel rates to rise further.
Maverick economist from the ruling party, Subramanian Swamy had this to say.
This is seen to be a reform oriented budget rather than a middle class-friendly one.
There is the apprehension that fuel will get costlier.
The middle class is feeling overlooked right now.
The middle class receives little relief and there is the expectation that the budget will have a ripple effect, raising prices of other commodities, curbing spending.
The budget may not have a positive impact on savings, felt some of the tweeple.
Many have noted how expenditure allocation was done keeping upcoming state elections in mind.
Some may be happy with the budget, but some are not – which is basically the story of every budget – including #Budget2021.
Do you have something interesting you would like to share? Write to us at [email protected]
