Citizens want Budget to help bring down prices
As retail inflation and inflationary expectations remain high, common people want the finance minister to focus on bringing down prices of essential commodities more than anything else when he presents the budget, a survey showed on Saturday.
The poll conducted by market researcher Ipsos India showed nearly 75% respondents wanted the budget to bring down prices of essential commodities, followed by demands to raise the income tax exemption limit to Rs3 lakh from Rs2.5 lakh and a higher levy on tobacco products.
Ipsos surveyed 1,047 people across seven major Indian cities.
Consumer price inflation — a measure of rise in prices of a basket of goods dominated by food items and fuel — is expected to stay in the range of 4.5-5% in the coming fiscal, the economic survey released on Thursday said. This is despite oil prices having declined 9.21% and manufacturing goods going 1.17% cheaper from a year ago, according to data released in the second week of February.
Food inflation was primarily driven by rising prices of pulses, the main source of protein for millions of Indians, which shot up 44.91% in January reaching a fiveyear high in some parts of India.
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