Lok Sabha elections are going to be held this year, hence an interim budget will be presented instead of the full budget. This budget will be the sixth budget of Finance Minister Nirmala Sitharaman. The imprint of Prime Minister Narendra's plans can be seen there.
PM Narendra's plans
PM Narendra Modi had made several announcements during the assembly election campaign in Madhya Pradesh, Rajasthan and Chhattisgarh.These, among other things, include announcements like LPG gas cylinder for Rs 450, cash of Rs 1250 to poor women, Rs 2 lakh to poor girls up to the age of 21 years etc. This was named Modi's Guarantee.
Let us tell you that from the interim budget, the present government gets money to run the country till the arrival of the new government and the presentation of the full budget. In such a situation, you will also have a question in your mind that where does the government get the money from and where is it spent.
Where does the government's money come from and where does it go?
The government gets money from both tax and non-tax sources. At the same time, the government spends money on other works including paying interest, subsidies and schemes.
Consensus can be reached on these
Allocation for MNREGA will be increased, a provision of 8 or 10 thousand rupees can be made in PM Kisan Samman Nidhi instead of 6, a new scheme can be announced under Direct Benefit Transfer for women headed families, Income Tax Payers Payers)Standard deduction for home loan can be increased from Rs 50 thousand to Rs 1 lakh, tax rebate on insurance can be increased, tax exemption on home loan interest payment can be increased, arrangements can be made to increase the convenience of startups. Many such speculations are being made about the interim budget.
Vote on Account will be the budget
The Finance Minister has said that this will be Vote on Account only and no major step should be expected in this.
Auto sales in january
The markets will also pay attention to vehicle sales figures. These figures will be revealed on February 1.
Quarterly results of these companies will come
State Bank of India (SBI), Tata Motors, ITC, Adani Green Energy, Bajaj Finance, Bharat Petroleum Corporation, GAIL (India), Dr. Reddy's Laboratories, Larsen & Toubro, Voltas, Ambuja Cements, December quarter ( Quartel Result) results are about to be released.There is some special reason for this budget. This will be the budget before the general elections, hence the government will definitely put forward its past record before entering the electoral arena. She can also do something which will help her in wooing the voters.