As India is just a few days away from the Union Budget, one question that is doing rounds is if the health sector will receive a boost after being tampered by the ongoing pandemic.
An Assocham survey states that the healthcare sector is likely to receive the highest priority in the upcoming budget. Apart from this, MSMEs, energy and infrastructure and technology were also on the priority list.
While health workers played a significant role in fighting the pandemic, the consequences have not been so good as it brought gaps in the public healthcare system.
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Nearly 40 per cent of respondents of the survey also noted that Finance Minister Nirmala Sitharaman should reduce the income tax. This will help in boosting private demand and consumption, they believe.
The Finance Minister will be submitting the country’s annual financial statement for the year 2022 on February 1. Article 112 of the Indian Constitution states that the Union Budget is a declaration of the government’s expected receipts and expenditures for that particular year. It is presented in two parts: the railway budget and the main budget.
The budget session of Parliament will be held in two parts. The first part will be held from January 31 to February 11 and the second part will be held from March 14 to April 8.
(With inputs from agencies)
