PREFACE
Dear Reader,
An annual budget is a major event in every developing country.
Less developed the country; the more the changes annually –
policy is often amended.
Today the government presented its last comprehensive budget
before it goes for the General Elections scheduled in 2024. As avid
followers of the budget for over two decades, we at ELP are pleased
to report that there is a strong thread of consistency from
previous budgets thus demonstrating the maturing of the Indian
economy. Clearly there is a focused plan.
As anticipated, the Finance Minister has made drastic changes to
personal Income Tax by either extending or introducing various
social schemes for the under privileged. Besides pleasing the
electorate, this is a need in India as it impacts each voter
personally – whether s/he pays taxes or not. The revision of
the Income Tax slabs under the new tax regime is expected to
increase the purchasing power in the hands of the consumer.
