Expect Budget 2021 to give Impetus to Economy : Sanjeev Pendharkar
The year 2021 is being looked upon as a year of hope - hope for good health, hope for a life free of restrictions, hope for buoyancy in economy. On the economic front, stock markets are also achieving new heights with the expectation of the economy improving and a taxpayer-friendly Budget along with the introduction of two vaccines for Covid-19. While various economic packages and reforms announced by the government in 2020 have no doubt kept the economy afloat, Budget 2021 is also being looked upon as a watershed event which is expected to lift and give an impetus to the economy. Some of the expectations of the common man from the Budget 2021 are as follows: 1. Increase in basic income tax exemption limit and investment limit under section 80C The basic income tax exemption limit needs to be increased from Rs 2.5 lakh to Rs 5 lakh. The immediate expectation is to reduce the tax burden of taxpayers. The Covid-19 pandemic has affected everyone in some way or the other. Incre...