PROGRESSIVE RATIONALIST

Though Union Budget 2020 is disappointing as it hasn't addressed the crucial problems in the country like hiking unemployment, slowing economy etc. it has some attraction in terms of infrastructure development. The govt has blessed the sector with more allocation in-spite of cutting some in social sectors like MGNREGA (Mahatma Gandhi National Rural Employment Guarantee Act) and Gender Budget. Roads, Rails and Planes Allocation for Highways has seen a 10% increase from the previous budget. At least one of the major ports would be corporatised and listed in the stock exchange. Development of ports seen an increase of 44% . Also, the allocation of the shipping industry is increased by 18%.  The allocations are pretty good. To fund these projects govt uses the Public-Private Partnership channel and to realize funds govt goes for corporatising and offering stocks to the public probably BOOT (Build Operate Own Transfer) model. 100 Airports will be developed by 2025 to support UDAN sche

Is Budget 2020 a middle-class budget? Finance minister Nirmala Sitharaman unveiled the budget for the financial year 2020-21 by Feb 1. The theme of the budget is observed as Aspirational India, Economic Development and Caring Society. Income tax rate cuts The tax rates were reduced for the various income slabs. The tax reduction is seen as a scheme that the taxpayer should opt for ie., The new tax rates are for the taxpayers who do not claim any tax exemptions like leave travel allowances, House rent allowances, House loan repayments, Savings such as LIC, PPF etc. Those who claim for exemptions should stick to the older tax rates and new tax rates do not apply for them. The objective of the tax rate cut is to reduce the   tax burden and to put more money in the hands of the people to increase the consumer demand in the economy . Nistaar   has been saying in previous articles that more money should be given in the hands of the people to increase consumer demand by which the economy woul