Budget Betrayal

It is that time of the year when the talk on tax slabs heats up and #Budget2022 was no different in evoking another set of strong yearly reactions with the Finance Minister not even tinkering the slabs & slab rates to the benefit of the salaried and middle class. The economy & citizenry was hit by the pandemic, especially so by the second wave which recorded a significant loss of lives & livelihood. If ever there was a time of extending relief and mitigating the slipping back of families into 'poverty', this was it. Yet, the GoI severely disappointed the middle class and hence the natural outpouring of justified emotions. There was a time when taxing was considered a sanctioned loot by the government; from there, we have reached a point where I see so many positive voices expressing that taxes are being put to good use and hence the resistance of these individuals to governments collecting personal income tax has reduced significantly. From a blanket pessimistic view, this year's budget has witnessed a progressive and constructive expression of angst that the middle class income taxes are the major financiers of the welfare & freebies. In today's blog, I seek to explore this statement.