The Economic Rights Every Indian Should Have | Budget 2025

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In the first episode of ‘Budget 2025: What’s at Stake?’, renowned economist and former professor at Jawaharlal Nehru University Prabhat Patnaik unpacks how the Union Budget 2025-26 is likely to reflect the government's overarching economic strategy. Patnaik explores the budget's role in addressing growth, inequality, and fiscal priorities, while critically analyzing its alignment with broader policy objectives.

The government’s economic priorities and strategies, he argues, need an overhaul if we are to live in a society that is more equal. He talks about five economic rights he thinks every citizen should have, and how the government can raise the money required to make these a reality.

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Hope to see some good and user friendly laws in the new set of tax rules.

Few suggestions:

1. Merge AIC, TIC and 26As into one form.

2.Old and new tax regimes be merged into one.

3.Tax refund be given in maximum 2 months from date of filing tax return or be given with interest equal to FD of Banks.

4.Income tax website be kept always updated.

5.Form 16, and 16A, be sent to tax payers thro email/dak by April every year, without asking or demanding the same by tax payers.

6. Good Tax practices of developed countries be adopted to the extent possible asap.

7.Tax payers who have nothing more to declare other than what is reflected in their for 26As, TIS, AIS, be given freedom not to file tax return, and such tax players should be allowed to just inform the concerned agencies that their income be assessed as per the information given in their above forms.

8. Suggestions from tax players be invited on regular basis to keep making improvements in tax laws.'

rajendrabhatia
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Your analysis is perfectly correct. But the crux of the issue is that our PM is only after power by hook or crook without any genuine sense of service to the people and working class and the pensioners n the farmers. His actions during the pandemic speaks volumes of his sadism, for he clipped the rights and privileges of the above class of people by clipping three DAs rightfully due to them. On the contrary the elected representatives enjoy all the benefits and our poor people are deprived of their rights to live with better purchasing power. Therefore, down with Modi and the BJP n the NDA.

vijayaraghavantr
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Well
Well-spoken and the unfortunate remark at the end tells me that you are still hopeful

Liondewarangal
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Hope our Budget makers take these inputs. This must be the Roadmap for #ViksitBharat not 5 or 10 Trillion Economy.

manojjha
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Surprisingly, your own student Smt.Nirmala Seetharaman had not listened and attentive, during the lecture hours of your classes..😂😂😂

ramamurthyp.k
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Advises a new economic path for his nation, brings up the Soviet Union. Oh no.

jacobcantrell
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You are not second to The God...
Sir, Salute is little but worship you...

YogeshGupta-vjrn
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Going bonkers on social welfare may look exciting prospective but how do you tackle inflation then? Growth with moderate or low inflation is the way ahead for India.

Sugar
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Patnaik is not aware that the free food grains to 80 crore folks is still ongouing..he is advocating many more freebies..sounds like a social welfarist professor

counterpoint
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First he should start with donating 50% of his wealth to Govt. He doesn't need that much, his pension is more than enough to live a lavish life.

ajay