Economic Survey drops a hint if Budget will bring Covid cess, tax on ultra-HNIs

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Economic Survey drops a hint if Budget will bring Covid cess, tax on ultra-HNIs
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Synopsis

While the government and much of the formal sector maintain that the domestic economy is seeing a V-shaped recovery post the national lockdown to contain the Covid-19 cases in April-May, the true shape of the recovery has been rather ‘K-shaped’.

Economists have called upon the government to step up social spending in the Budget through rural and urban job guarantee schemes in order to help the lowest strata of society cope with the after-effects of a deadly pandemic.

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