As several measures have been enforced by the Finance Ministry including the extension of the date for filing of Income Tax, such decisions seem to have severely impacted the tax revenues of the Government. Added to this situation is the rise in expenses and costs as all resources are being focused to contain and eradicate the pandemic as well as protect the vulnerable and weaker sections during this period.
The next revision, the government said, will not be in July 2021 and the rates due from January 2020, July 2020, and January 2021 will be subsumed cumulatively in the revised rate.
“Why are the PM Cares Funds not being used?”
While such decisions are seen as an important step towards fighting the pandemic, several questions arise as well as concerns of those who will be directly affected by the decision. The prices of essential goods have sky-rocketed as a result of limited supply in the market causing financial strain on those dependent on the pensions and salaries and were looking forward to the hike as a relief. Further questions are being raised regarding the PM Cares Fund and why the donations have not been used or allocated yet.
