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ETVBHARAT
  • 1/8/2025
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Transcript
00:00What do you think is the need and necessity for this?
00:04Every time when these farmers are entering this budget, they expect to increase their income.
00:12In the vote-on-account budget before Lok Sabha, and in the full budget after Lok Sabha,
00:20the Minister of Finance has given some incentives.
00:23By bringing in new jobs, old jobs, and other types of jobs,
00:27the income has been increased to Rs. 3 lakhs.
00:30So, those who have an income of Rs. 3 lakhs a year will pay zero tax.
00:34But those who have an income of Rs. 3 lakhs to Rs. 7 lakhs will pay 5% tax.
00:39Those who have an income of Rs. 7 lakhs to Rs. 10 lakhs will pay 10% tax.
00:43Those who have an income of Rs. 15 lakhs to Rs. 50 lakhs will pay 30% tax.
00:48So, we have brought in a slab system.
00:51So, if you look at how much income you will get from any job in the full budget,
00:57what you will see clearly in the 2024-25 budget is that,
01:01if you get an income of Rs. 17 from a corporate job,
01:06if you get an income of Rs. 18 from a GST job,
01:09the highest income source through income tax will come to the government,
01:14and it will come from the poor.
01:16So, income tax is the highest revenue contributor in the budget of the central government.
01:22So, if you get an income of Rs. 1,
01:24you will get an income tax of Rs. 18.
01:28Now, after the employment culture came,
01:31in India, the income tax payer's net has increased.
01:35That is, the number of people who pay has increased.
01:38It could be due to the employment culture, or it could be due to the technology system.
01:43In the past, there was a lot of unemployment.
01:46Especially, there was a lot of unemployment in income tax payments.
01:50Now, due to the decrease in unemployment and unemployment tax,
01:54the tax network has increased.
01:56The revenue that comes to the government through income tax has increased.
02:00Finally, the revenue that comes to the budget through income tax,
02:05is more visible to us.
02:07So, the income tax payments have increased in India.
02:26Mr. Prasad, the current country is facing a lot of unemployment.
02:30Income tax rates and economic decisions are also based on this.
02:34Earlier, you said that if inflation increases, where will you get more income tax from?
02:38So, what can we do with the budget for that?
02:41What the central government can always do is,
02:44to make its policy fiscal, contractional, expansionary, or neutral.
02:49Otherwise, the RBI has to address inflation.
02:52Monetary policy says that if the money supply increases, inflation increases, and if it decreases, it decreases.
02:57So, what we have to do is,
02:59if the savings from the public comes to the RBI,
03:02and if the RBI gives a loan, the GDP automatically increases.
03:05If the GDP increases, the money does not increase without inflation.
03:09So, what we have to see here is,
03:11if the central government addresses inflation through the budget,
03:15there is no ordinary opportunity.
03:17Inflation will be left to the RBI.
03:19So, what we have to see here is,
03:21in a country like this, unemployment is very high.
03:26So, if we have to address it,
03:28the responsibility of generating employment lies with the central government.
03:32In this budget, I can say that there will be at least 100-110 policies.
03:35There will definitely be policies on it.
03:37How will it be? There are many ways.
03:39Because, if roads are built,
03:41many people will be able to generate employment.
03:43Even small jobs will be able to generate a lot of employment.
03:45But, if we look at the worst case scenario,
03:47in this year's budget for roads,
03:50only 54% was spent by November.
03:53Only 67% was spent on railways.
03:58According to the ratio, it is correct.
04:00Also, if we look at the defense,
04:02the self-reliant India said that
04:04only 42% was spent in the budget.
04:06If we look at the states,
04:08only 49% was spent.
04:1067% should be given.
04:12If we take the responsibility to address all this,
04:14growth will increase.
04:16Otherwise, if employment is generated,
04:18if more money comes into the hands of the people,
04:20the discretionary amount will automatically increase.
04:22If the discretionary amount increases,
04:24consumption will increase.
04:26At present, the reason why India is suffering a lot
04:28is definitely the reduction in consumption.
04:30That is, fast-moving consumer goods.
04:32Even in the middle-income group,
04:34due to the increase in expenses,
04:36people have started eating less
04:38than the food they used to buy.
04:40Due to this, the entire FMCG industry
04:42is under a lot of stress.
04:44What should we do now?
04:46New jobs should be created.
04:48New production-linked incentives should be given.
04:50Cap-expenses should be increased.
04:52All these are in the hands of the central government.
04:54Since they have a lot of money,
04:56they should do it in the budget.