Finance Minister Nirmala Sitharaman is said to be considering a proposal to cut income tax rates
While the budget will be presented on February 1, you can submit your suggestions to the FM within January 20
NEW DELHI :
Union Finance Minister Nirmala Sitharaman is having pre-Budget consultations with leaders of various industries and other stakeholder groups including industrialists, economists, farmers, traders, union leaders, etc. To make the budget making process more inclusive and participatory, the finance ministry has decided to seek suggestions even from ordinary citizens.
You can log onto the MyGov website and click on the "Inviting Ideas and Suggestions for Union Budget 2020-2021" banner to submit your suggestions. "Do you have ideas/ suggestions that can become a part of Union Budget 2020-21? Here is the opportunity to share them with @FinMinIndia," reads a tweet from citizen engagement platform MyGov.
To boost growth, the finance ministry is already said to be considering a proposal to cut personal income tax rates as well as long-term capital gains (LTCG) from equity investments in the 2020-21 budget. “(A cut in personal income tax) One among the many things we are looking at," Nirmala Sitharaman had said recently at the Hindustan Times Leadership Summit 2019.
On the MyGov portal, you can submit any suggestions related to income tax, finance, GST, employment, entrepreneurship, railways, farmers, infrastructure, agriculture, health, education, etc.
"In order to make the Union Budget-making process participative and inclusive, the Ministry of Finance has sought inputs from citizens for the last several years. This year too, the Ministry looks forward to hearing from you on your suggestions for the Union Budget which will be presented in the Parliament in the upcoming session," reads a note put out on the MyGov portal.
"Citizens from all walks of life are welcome to be a part of this democratic exercise. You can submit your suggestions either directly in the comments box or attach a PDF document. We seek your valuable ideas to continue the tradition of the Union Budget incorporating the citizens’ aspirations. Please use the following hashtags with respective suggestions: #IncomeTax #Finance #Farmers #Agriculture #Health #Education #Environment #WaterConservation #GST #Employment #Entrepreneurship #Railways #Infrastructure #Others," it reads.
You have time till January 20 to submit your suggestions to finance minister Nirmala Sitharaman who is likely to present her second Budget for the Modi 2.0 government in Parliament on February 1.