January 21, 2021

Andrew Campbell 

Minister of Finance in India, Nirmala Sitharaman, is to report its annual budget at the beginning of February, 2021. This annual budget has major changes to revive the economy and give some relief for the people and industry. Changes include income tax deductions, huge boost for housing buying, reviving the job market, and concentration on the healthcare. 

With the development of COVID-19, a better healthcare treatment is necessary. Therefore, major spending of this budget will be related to anything that provides better materials to prevent coronavirus. 

COVID-19 has caused many people lost jobs or salary cut. India government plans to have higher standard deduction so that their people have more money for household. The boost for housing buying can revive the industry of infrastructure. This will increase the demand for workers to create a stronger job market. 

In general, this fiscal plan is to save the economy caused by COVID-19.

Photo:Webshot.