Citizens want not just a tax cut via Budget 2020 – Local Circles .

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Citizens want the Government to not just provide a tax cut via Budget 2020 but also provide an incentive to spend the same.

  • 69% want tax-free income to be increased to 5 lakhs
  • Want environment, infrastructure and agriculture to be top areas of allocation in Budget 2020
  • Also want the Standard Deduction to be increased to Rs. 75,000

January 21, 2020, New Delhi: Amid the talks of an economic slowdown, many are hoping that the upcoming Budget 2020 would turn out to be a balancing act. The Finance Ministry recently conducted the pre-budget meetings and invited the relevant stakeholders to present their expectations from the upcoming budget. To get the citizens perspective of what areas do they want the upcoming budget to address, LocalCircles conducted a large survey and received more than 80,000 responses from across the country.

Since the Government announced the corporate tax rate cut in September this year, people are hoping that the Budget 2020 will bring some relief for the individual taxpayers as well. Currently, for individuals under 60 years of age, there is zero tax up to annual income of 2.5 lakhs. Citizens were asked how should the Government change this going forward. 69% aid this should be increased to 5 lakhs18% said it should be increased to 3 lakhs. 7% said it should be kept at 2.5 lakhs only and 4% said it should be reduced to 2 lakhs instead.

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