Whilst there are some positive steps in the budget there are some negative points also. The positive steps are: Poverty-related expenditure increased by 16.5% (Rs 324 billion).
Duty reduction on imported cars.
Income tax reduction for salaried persons.
Minimum wages increased from Rs 2,500 to Rs 3,000 per month.
Profit on investment in national saving schemes up to Rs 1.5 lakhs exempted from withholding tax.
Health allocation increased by 68%.
Tax reduction in the corporate sector and banking.
NEGATIVE POINTS:
Withholding tax of 0.1% on cash withdrawals from banks up to Rs 25,000.
Withholding tax on export increased 0.25%.
Presidency's expenditure increased by 179%.
No-concrete steps to control inflation.
No-relief to common man and industrial units in electricity tariff, petrol and gas. No-direct incentive to reduce cost of production for exporting industries.
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