Delhi. Finance Minister Nirmala Sitharaman is scheduled to present the Union Budget on February 1. In the midst of the Corona situation, this general budget is going to be very important. Common people have high hopes for this. In such a situation, many things are going on about what relief this budget of the government can bring for the common man. Regarding which SEBI Registered Investment Advisor Jitendra Solanki told how the government can give relief to the common man in this budget.

Sebi Registered Investment Advisor Jitendra Solanki said that the basic exemption in income tax of Rs 25 lakh has been the same for a long time. It hasn’t been extended. It is expected that it should be increased to at least Rs 3 lakh. However, it was seen that income tax exemption of Rs 2.5 lakh was increased for people above 60 years of age but people below 60 years of age were not given this exemption.

Jitendra Solanki said that the biggest advantage of increasing the exemption in income tax is that more money goes into the pocket of the common man, which we call disposable income. When the income is high, then that person spends or invests, then from one side, there is such relief in running the economy. The economy will benefit by increasing disposable income.

Solanki said that inflation is a big factor that is impacting the mind of the common man because neither the income increases with inflation nor the facilities which are there, do not increase. This is the reason why the common man expects from the budget that he gets more income in his hands so that he can beat inflation. When inflation rises, interest rates increase, expenses of a common man start increasing. In such a situation, the mismatch with the income, due to this, there is a more negative impact.