LocalCircles’ survey shows two-third Indians believe Budget positive for economy

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A survey conducted by community platform LocalCircles to understand how Budget 2022 would benefit India, found that two out of every three Indians believe the Budget will have a positive impact on the economy.

Taxation of digital assets was also welcomed by the people.

With the government announcing that the RBI will launch its own digital currency and gains from the sale of any digital assets will be taxed along with TDS to track all digital sales transactions, the survey sought to understand if citizens supported these moves.

On digital assets, 58 per cent respondents supported the proposed launch of the RBI’s digital currency, whereas 54 per cent supported taxation on digital assets.

However, no relief on personal tax has made some sections of the people upset, the survey revealed.

Also, 48 per cent of the respondents believed that the Budget allocation on health was not sufficient to handle the pandemic. The Centre has increased the capex target by 35.4 per cent from Rs 5.54 lakh crore to Rs 7.50 lakh crore, the social media platform said quoting Budget document.

The survey received more than 40,000 responses from citizens residing in 342 districts of India. Of the total responses, 66 per cent of respondents were men while 34 per cent of respondents were women.

Besides, 42 per cent of respondents were from tier 1 cities, 33 per cent from tier 2 and 25 per cent respondents were from tier 3, 4 and rural districts.

LocalCircles is a community social media platform which enables citizens and small businesses to escalate issues for policy and enforcement interventions and enables the government to make policies that are citizen and small business centric.

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