00:00What does the middle class want?
00:02They want relaxation in taxes.
00:04This is the most important thing.
00:06Sir, do you think that in this budget,
00:08there can be some changes in taxes?
00:10Can the common man get some relief?
00:12You have said a very good thing, Bhavna.
00:14But I will keep a few figures in front of you
00:16that will surprise you about taxes.
00:18There are 8-10 crore income tax returns in the country.
00:228-10 crore.
00:24But you will be surprised to hear that
00:26those who actually get tax from their pockets,
00:28their count will be around 2 crore.
00:30So, we...
00:32And the middle class,
00:34the middle class that we have right now,
00:36according to my estimation,
00:38being an economist,
00:40I can tell you that
00:42our middle class is around 60-70 crore.
00:44So, the figures that I was telling you about
00:46that will surprise you,
00:48our middle class is around 60-70 crore.
00:50Out of that, 8-10 crore returns are filed.
00:52And out of that, 2 crore people
00:54actually pay taxes.
00:56And the Prime Minister himself
00:58said this 2 years ago in a speech.
01:00At that time, it was 1.5 crore.
01:02I have added 50 lakh more to it.
01:04Since then, 50 lakh more people must have joined.
01:06So, if you put more money
01:08in the pockets of the taxpayers,
01:10if you reduce the tax rate,
01:12then it will be beneficial that
01:14they will use that savings in consumption.
01:16Or they can use the savings in two ways.
01:18Either they will save it and keep it in the bank.
01:20Or they will invest. Or they will spend.
01:22So, I think when they will spend,
01:24then it will increase.
01:26But the thing to note here is that
01:28their numbers are very low.
01:30So, if you want to put money
01:32in the pockets of the middle class,
01:34then you will have to take
01:36a step against inflation
01:38which should be seen in this budget.
01:40This is my expectation.
01:42This is my wish list.
01:44This is what I want from the budget.
01:46To reduce inflation,
01:48very comprehensive announcements
01:50should be made this time.
01:52The rest of the middle class people
01:54who do not pay taxes,
01:56they will also get money in their pockets.
01:58They will save 4 paise in their pockets
02:00and they will spend it.
02:02This is what I want to tell you
02:04in the matter of tax.
02:06If you ask specifically about tax,
02:08then I expect some changes in tax slabs.
02:10I think the new regime
02:12in which 5%, 10%, 15%, 20%
02:14and then 30% tax is applied
02:16above 15 lakhs,
02:18I think this slab will be relaxed
02:20The definition of the middle class
02:22has also changed a little.
02:24The middle class used to be 5, 6, 7 lakhs
02:26and now it has reached 15, 20 lakhs.
02:28I am talking about a few years ago.
02:30So, I think there will be some relief
02:32this time.
02:34I hope that some relief will be given in tax.
02:36Although few people will get relief
02:38of the 2 crore people I am talking about,
02:40but I feel that it will definitely come.
02:42Sir, apart from this, last time
02:44we saw how the standard deduction
02:46in the new tax regime was reduced
02:48from 50,000 to 75,000.
02:50This time, it is expected that
02:52it should be reduced to 1 lakh rupees
02:54to make it more attractive.
02:56But do you think that in the new tax regime
02:58it was reduced from 50,000 to 75,000
03:00but in the old tax regime
03:02there was no change in the standard deduction.
03:04Do you think that this time
03:06there can be some announcement
03:08about the standard deduction in both of these?
03:10Or should it be?
03:12As a taxpayer,
03:14Bhavna, you must be paying taxes,
03:16I hope that it should be increased.
03:18This is an old saying of Ghalib.
03:20There are thousands of wishes,
03:22I wish for every wish to come true.
03:24I wish for my wishes to come true,
03:26but less.
03:28But the question of the old regime,
03:30Bhavna, that is a very good question.
03:32I think that the old regime
03:34has become a bit of a step-mother.
03:36She wants more people to come
03:38to the new regime.
03:40And last time,
03:42two-thirds of the tax-paying population
03:44has come to the new regime.
03:46So I think that whatever changes
03:48will be made,
03:50especially in the new regime,
03:52because they want this figure to increase
03:54to 90-95%,
03:56so that the old regime
03:58gradually becomes irrelevant,
04:00redundant,
04:02that so many people will be left
04:04to leave the old regime and take the new regime.
04:06So if I answer your question
04:08directly,
04:10I feel that the old regime
04:12will be left as a stepmother.
04:14This is what I feel.
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