Youth expects new health schemes, tax relief for women
72% of participants surveyed said that they expect cost reduction on two and four-wheeler vehicles
image for illustrative purpose
With the upcoming Union Budget FY 2021-22 due in three weeks, Bizz Buzz interviewed youngsters from different walks of life across the country to understand what does the annual Union Budget means to them and what are their expectations from it?
The Union Budget, which will be presented by the Finance Minister, Nirmala Sitharaman, on February 1, 2021, will be the first such major Parliamentary address post the tumultuous year of 2020, which witnessed economic slowdown due to Covid-19 lockdown.
Bizz Buzz interviewed 60 youngsters between the age group of 21 and 35, who hail from different major cities including New Delhi, Mumbai, Bangalore, Hyderabad, Kolkata and Thiruvananthapuram, as well as from different States like Assam. They are working / associated with sectors like IT, education, media, government and NGOs.
The surveyed participants expressed concern over subjects such as health, tax (benefits) for women and entrepreneurs, electronics such as tablets and computers, home loans, imported goods, four-wheelers and electric vehicles.
Of the 60 people in the survey, 38 men and 22 women, 45 participants expressed concerns over the upcoming Budget, whereas 15 participants cited lack of interest owing to the factor that they do not understand financial Budget at a deeper level. Over 15 per cent of those who were interviewed said that they would welcome tax relief for women, whereas an overwhelming section, 72 per cent of the participants, said that they expect cost reduction on vehicles (two-wheelers and four-wheelers). Less than 12 per cent of the participants said that they would expect a reduction on bank interest on loans and increase in interest rates for fixed deposit. Over 78 per cent of the people expressed greater interest on health sector in the form of telemedicine, new health scheme or health insurance coverage.
Santosh CK, who has been a part of solar (renewable energy) industry for over half a decade, told Bizz Buzz that while health is going to be bigger priority for the government this year, owing to the on-going global pandemic, renewable energy sector too needs equal attention from the Centre. His expectations from the Union Budget are more futuristic for developing the economy while considering the environmental factors.
Dr Ashwathi Muraleedharan, a PhD scholar in education, told Bizz Buzz that this would be a crucial year for the education sector, as the pandemic has affected scholars throughout the country.
"As a student and a working professional in the field of education, for me, Union Budget is to understand how much education is valued. Unfortunately, till date it is not given much priority. The investment in education has always been dismal and things have only marginally improved with a few changes here and there," she said.
One of the recommendations of the Kothari Commission in 1964 was allocation of 6 per cent of GDP on education. The central government, however, has not allocated more than 4.6 per cent of its total GDP in the educational sector. "Being a student in India, and specifically being a scholar relying on government scholarship for the research work, this year's Budget will definitely be something I'm looking forward to. The amount of funds given to research does not even cover the bare minimum expenses that we, as researchers deserve. Inadequate funds, inconsistent payments, unresponsive government mechanisms for students with grievances, the budget have a lot to address for someone like me," Dr Muraleedharan added.
