In the ‘pandemic Budget’, presented in a year that saw many losing jobs or facing a pay cut, there was widespread hope that the Finance Minister (FM) would offer some relief to the middle class by way of tax rebate. That did not happen. At the same time, the wealthy were fearful that the government might impose additional taxes on capital market gains, increase the surcharge on taxpayers in the higher-income brackets, or even reintroduce the wealth tax. Those fears proved to be unfounded as well.
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