Budget 2022: Centre receives over 3,000 suggestions from citizens on MyGov

Ahead of the Union Budget 2022-23, the finance
ministry had invited suggestions from citizens on the MyGov portal. According
to data from the MyGov website, it received more than 3,000 suggestions
on various issues from citizens for the upcoming Union Budget 2022-23. The
Ministry of Finance had invited public suggestions from December 26, 2021, to
January 7, 2022, on the official online portal.

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What are the major suggestions/demands
made by citizens?

1) According to a Business Today report,
citizens have demanded the exemption under the Income Tax Act for salaried
people to be increased and an exemption from long-term capital gains taxes be
provided.

2) Citizens demanded that Provident Fund and
Voluntary Provident Fund investments must be encouraged, and should be exempted
from tax.

3) Many have demanded lowering of  taxes
on petrol and diesel. 

4) A lot of people suggested the government
increase spending on sanitation and health.

5) Many citizens have demanded the removal of
the education cess to make education accessible for all and also support for
jobs in small businesses like in tourism.

6) Senior citizens have suggested an increase
in 80 TTB income tax exemption.

7) The Ministry received a lot of requests to
legalise cryptocurrencies and digital currency. 

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The Department of Economic Affairs, Ministry
of Finance, had invited ideas and suggestions for the Union Budget 2022-2023 on
its official website, MyGov.

“The Ministry looks forward to your ideas and
suggestions for the Union Budget 2022-2023. Please share your ideas and
suggestions that can help transform India into a global economic powerhouse
with inclusive growth,” the ministry had stated.

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Finance Minister Nirmala Sitharaman will present the Union Budget 2022 in Parliament on February 1 at 11 am. Previously, the budget was presented on the last working day of February, and former Finance Minister Arun Jaitely changed that tradition.

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The Budget, also known as the annual financial statement, is an account of the government’s estimated receipts and expenditures for the fiscal year which runs from April 1 to March 31. According to Article 112 of the Constitution, a budget must be approved by Parliament.

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The budget is divided into two parts: the revenue budget and the capital budget. The revenue budget consists of revenue receipts and expenditures. The capital budget includes the government’s capital receipts and payments.