The last two years have turned out to be quite heavy on the pockets of middle class due to COVID-19 and the people are contemplating the possibility of some relief from the Union Budget 2022-23 that will be tabled by Finance Minister Nirmala Sitharaman on 1st February 2022.
Different category of people expect numerious things that will ease their monthly spendings.
According to experts, the funds may most likely witness massive change because of the upcoming UP Assembly Elections 2022 and the COVID third wave.
Be that as it may, people of India are eager to know and are looking on the internet for what Budget 2022 may bring to them this time.
Here are some of the top searches:
A lot of people out of curiosity looked for the meaning of the word‘Budget’. The word budget is actually taken from the French word 'bougette', which means - small bag.
Types of Budget:
People are also searching for 'Types of Budget' to fathom what fits their pocket the best.
In general there are three types of budget namely, Balanced Budget, Surplus Budget and Deficit Budget.
In a balanced budget, the sum of income and expenditure must be even.
In a surplus budget, the income of the govt is more than the expenses.
In a deficit budget, the spending of the govt is greater than its income.
Budget Date 2022:
Ever since the date of the budget has changed from March to February, a lot of people have been unclear with the dates. Finance Minister Nirmala Sitharaman will table her fourth budget in Parliament on February 1, 2022, at 11 am.
This year the Indian government will start its budget session on January 31, 2022. President Ram Nath Kovind will jointly address the two houses on January 31.
People are hoping to see massive changes this time from the budget that might abate their spendings. There has also been demand to augment the standard deduction limit from Rs 50,000 to Rs 1 lakh. It has also been suggested to lay out extra tax relief to people working from home during the pandemic.