InvestorQ : Does the midclass was dumped by the Modi government in Budget2020?
simran Kaur made post

Does the midclass was dumped by the Modi government in Budget2020?

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Shivali Sharma answered.
1 year ago
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Well, to some extent, Yes! In the budget 2020 announcement the only thing that has been sort of a relief for the middle class taxpayers (earning income <= 10,00,000) was new tax regime. Under the new tax regime these taxpayers will have to pay tax at flat but lower tax rates and the regime shall be optional.
However, the expectations were really high from the budget and it didn't fulfilled much. There were predictions regarding lower LTCG tax, improvement in tax structure (not optional). So, this was supposed to be the budget that would bring economy a pump, but it doesn't look like it. It wasn't a well thought budget, maybe just a hurried one.

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