New Delhi, Jan 30 (IANS) With just two days left for the Budget day amid high expectations that the Narendra Modi government could come up with measures to beat the ongoing slowdown, which seems to have crippled the economy, 48.4 per cent people surveyed by CVoter expressed that the overall quality of life of common man “deteriorated” in last one year.
The CVoter Tracker survey is based on CATI interviews of adults above 18 years from across all segments. The tracking poll sample size is 4,292 and the tracking poll field work was carried out on January 3rd/4th week 2020.
Of the total respondents, 28.8 per cent replied that the quality of life of common man has “improved” in one year while 21.3 per cent said it “remained the same” and 1.4 per cent said they “don’t know/can’t say”.
When compared to CVoter Tracker’s survey in 2019, 41.7 per cent people then said that the overall quality of life of common man had “improved” in last one year, 32 per cent said it “deteriorated”, 25.2 per cent said it “remained the same” while 1.1 per cent said they “don’t know/can’t say”.
A similar data collated by the CVoter Tracker in 2015 reveals that a total of 39.3 per cent people then said that the quality of life of common man had “improved” in one year, 33.9 per cent said it “remained the same”, 24.6 per cent said it “deteriorated” and 2.2 per cent said they “don’t know/can’t say”.
On top of several options, the Centre may consider raising income tax slabs, an issue that affects common people. The Centre may also introduce tax saving options like “infrastructure bonds”.
Addressing these concerns can significantly address the issue of low consumption.
Union Budget 2020 will be presented on February 1, a day after Chief Economic Adviser Krishnamurthy Subramanian will present the Economic Survey.
Finance Minister Nirmala Sitharaman will present Union Budget 2020 in Parliament around 11 a.m. on February 1. The economists believe that this budget will be mostly focussed on reviving a slowing economy and boosting consumption.
Remarkably, this year’s budget falls on a Saturday. Stock exchanges as well as parliament, which are normally shut for business on weekends, will be open on February 1 (Saturday) because of the budget.