Finance Minister Nirmala Sitharaman is going to present the budget for the financial year 2023-24 on February 1, for which there are a lot of expectations in the minds of common citizens.

Finance Minister Nirmala Sitharaman. (file photo)

The budget session of the Parliament is starting today. Today the Economic Survey will be presented and then tomorrow i.e. on February 1, the budget for the financial year 2023-24 will be presented. This will be the last full-time budget of Modi Government 2.0, so this time Finance Minister Nirmala Sitharaman will be under financial pressure, on the other hand, she will have to pursue political interests for her party. Talking about the expectations from the budget, the common man has thousands of wishes, but now it has to be seen how many wishes the Finance Minister can fulfill with the budget 2023-24.

Will income tax be reduced?

The last change in the income tax slab was made in the year 2014. In such a situation, now the middle class or simply speaking, the salaried class is expecting whether the exemption on income tax will increase their salary or not. Economists are speculating that due to the election year, the Modi government may make some changes in the income tax.

Will get relief from inflation

Inflation is continuously breaking the back of the people. Due to this, it is expected whether this time on the front of inflation, the government can make some big announcements in the budget. People are expecting that this time there will be a reduction in domestic LPG gas prices as gas cylinders are putting an extra load on people's pockets due to the ever-increasing prices.

Can get any discount on loan

To keep inflation under control, RBI has increased the repo rate several times this year. This had a direct impact on the interest rates of banks and taking loans has become expensive. In such a situation, the installment for home loan borrowers has also increased due to an increase in interest rates. Now the expectation of the people is only from the budget, whether this time the Finance Minister can increase the current limit of interest exemption given as home loan under 24B of Income Tax to 5 lakhs from 2 lakhs because it will give inflation and loan to the people. Can give some relief from EMI.

Will senior citizens get an exemption?

Senior citizens of the country also have some expectations from the general budget whether the government can give them the discount on train tickets again. Before the Corona period, senior citizens used to get discounts on rail tickets. When the trains stopped in Corona, this exemption was also abolished. Trains started after the Corona period, but the exemption given to senior citizens has not been resumed yet.

Concessions in education loan

Every year a large number of children go out to study and that is why they take youth education loans but youth have to face many difficulties in taking an education loan. In such a situation, the youth hope that this matter will be taken care of in the budget and the government will take such steps which will make the education loan cheaper, as well as simplify the process so that the youth have to face less struggles.