Many people said they are facing financial stress as their earnings have shrunk while some others stated that benefits of GST are not being passed to customers. Here are the top five concerns among consumers ahead of Union Budget 2019:
With just days left before the announcement of Union Budget 2019, consumers have asked the government to focus on increasing income by reducing the tax burden.
Consumer responses on Twitter and towards various surveys have been taken into account for determining top priorities.
Many people said they are facing financial stress as their earnings have shrunk while some others stated that benefits of GST are not being passed to customers. Here are the top five concerns among consumers ahead of Union Budget 2019:
Relax income tax
Many people highlighted the fact that consumer earnings under stress due to low-income levels and increasing prices. The recent ‘Mood of the Consumer’ survey conducted by LocalCircles on June 19 indicated that 73 per cent of the households that took part in the survey said they are “feeling squeezed” when it comes to balancing their earnings and spending.
“This number stood at 60 per cent in September 2018. Any tax relief that the government can grant via the budget, which could help address this situation, will be of help the Indian consumers,” said Sachin Taparia.
However, it is unlikely that the government would announce any major changes in income tax. What it could do is grant more provisions for tax deduction under certain existing sections of the Income Tax Act.
Source: India Today
