All section Close
Union Budget 2022-23: Income Tax Relief On COVID Treatment Expenses & Compensation
Writer: Snehadri Sarkar
While he is a massive sports fanatic, his interest also lies in mainstream news and nitpicking trending and less talked about everyday issues.
India, 2 Feb 2022 7:35 AM GMT
Editor : Shiva Chaudhary |
A post-graduate in Journalism and Mass Communication with relevant skills, specialising in content editing & writing. I believe in the precise dissemination of information based on facts to the public.
Creatives : Snehadri Sarkar
While he is a massive sports fanatic, his interest also lies in mainstream news and nitpicking trending and less talked about everyday issues.
The Union Budget for 2022-23 was presented by Finance Minister Nirmala Sitharaman in a paperless format in an attempt to go green. She also read out the Budget at the Parliament through a tab, instead of the traditional 'bahi khata'.
What can only be described as a disappointment of the salaried class, Finance Minister Nirmala Sitharaman on Tuesday (February 1) shied away from supplying any income tax relief. In her Union Budget 2022-23, Sitharaman did not change the personal income tax rates too.
Furthermore, the Union Minister also did not elevate the standard deduction, which was anticipated massively because of the elevated inflation levels and also due to the impact of the COVID pandemic on the middle class.
Unions Budget 2022- How Effective Is It?
However, the Union Bidget 2022-23 did provide relief to individuals who have received money for expenses incurred on treatment of COVID-19.
"The budget does not have much to offer on personal tax. However, relief has been provided to persons who have received money for expenses incurred on treatment of Covid 19. Likewise, money received by family members on the death of a person will be exempt up to 10 lakhs for family members," tax expert Balwant Jain was quoted as saying by Mint.
Sanitation & Health
Under sanitation and health, Nirmala Sitharaman has announced the rolling out of the National Health Ecosystem. The central government emphasised mental health by promoting the National Tele Mental Health program, under which 23 tele mental health excellence centres would be set up. The Budget also allows integrated benefits for children and women through Mission Vatsalya, Mission Shakti, Poshan 2.0 and Saksham Anganwadi. Furthermore, the government has also set aside Rs 60,000 crores for over 3.8 crore households under their 'Har Ghar, Nal Se Jal' scheme.
While on the one hand, the Minister has declared that the Ujjwala scheme would be extended to another crore beneficiaries. The plan aims to provide clean cooking fuel to poorer households through LPG connections.
Nevertheless, one must keep in mind that the scheme has already provided connections to over eight crore beneficiaries. The rising prices of LPG and the upward trend in international fuel costs, supplemented by the withdrawal of subsidies on LPG cylinders, could soon lead to a reduced impact of the welfare scheme.
Also Read: Congress' Harish Rawat Labels Union Budget 2022-23 As 'Chunaavi Budget'
Must Reads
We are an independent and public-spirited digital media platform for Indian millennials. We report news and issues that matter as well as give you the opportunity to take action.
