look news india
3 big shocks to the general public: The central government has given 3 shocks to the public. On one hand, the central government has announced to issue 38 percent less sovereign gold bonds in the general budget this year i.e. 2024-25. At the same time, the government has no intention of bringing back the old pension scheme. Along with this, the government is also preparing to phase out the old system of income tax along with investment exemption and various deductions.
The central government has reduced the target of issuing sovereign gold bonds (SGB) for the year 2024-25 by 38%. In the interim budget presented by the government in February, Rs. 29,638 crore SGBs were announced but in the full budget, the government reduced this target to Rs 18,500 crore. After redemption, only Rs 15,000 crore worth of sovereign gold bonds will be issued in the year 2024-25, whereas in 2023-24, a total of Rs 26,852 crore worth of gold bonds were issued and after redemption this figure stood at Rs 25,352 crore.
So many gold bonds have been issued
2022-23 6,551
2023-24 26,852
2024-25* 29,638
2024-25** 18,500
Old pension system is not possible
Finance Secretary TV Somanathan has given a big shock to lakhs of employees who were expecting the old pension system. TV Somanathan said, OPS is no longer financially viable and bringing it back will be harmful for those citizens of the country who are not in government jobs. He said that meaningful talks have been held regarding the new pension system but the work is not yet complete. He said that regarding NPS, employees are saying that this is a matter related to the stock market, we do not want fluctuations in pension. Tell us how much pension will be given. If someone completes his job i.e. has not worked for 30 years, then some minimum pension should be fixed for him.
The old income tax system may be discontinued
On the other hand, Central Board of Direct Taxes (CBDT) Chairman Ravi Agarwal said that once a sufficient number of taxpayers accept the new income tax system, the old income tax system can be discontinued. He said, people are choosing the new tax system, they are finding it beneficial. It has been adopted by 66% of individual taxpayers. People are seeing the benefits of the new tax system. Standard deduction, NPS and many other benefits have been increased in it. Over time we will see how the old system can be realistically maintained, when the new tax system can be sufficiently numbered.
