Budget 2022-23: No Change In Income Tax Likely: CareEdge Survey

Infrastructure and employment are likely to be the main focus areas according to a CareEdge Budget Expectation Survey. "After a year of the raging waves of the pandemic, India awaits another Union Budget to understand how our economy will shape up in the upcoming fiscal. CareEdge conducted a survey during the period of January 12-17 with 330 industry experts and analysts to forecast what all our Finance Minister Smt. Nirmala Sitharaman could have in store for the country," Care ratings said in its survey.

More than half the respondents expect infrastructure and employment to be the main focus areas, followed by demand stimulation and welfare programmes

The survey also sees higher spending expected on healthcare, agriculture, logistics infrastructure, and education.

According to the CareEdge survey, new welfare programmes anticipated, with spending on existing ones to be increased marginally. The survey also does not expect an Income-tax relief for the common man, in line with what most analysts and economists expect. In fact, 53% of the respondents do not see any change in Income Tax,.

Welfare programmes likely in the Union budget

According to the survey from CareEdge, welfare programmes are likely to be centered around farmer welfare, education, healthcare, housing, and employment generation. New measures targeted towards MSME's are also likely.