A covid tax for ultra-rich Indians in 2022 budget may boost consumption demand evenly

With the Union Budget set to be presented by finance minister Nirmala Sitharaman on Feb. 1, the state of the Indian economy remains grim as the third wave of the Covid-19 pandemic appears to be peaking across cities and towns. The Union Budget presentation is closely observed by economic and political commentators as the government tries to correct some wrongs from the past year, or award a handful of carrots to poll-bound states in the expectation of garnering more votes. For example, last year’s Budget outlays sought to offer an optimistic “pro-growth” vision to the long-term plan in a bid to kickstart domestic private investment through increased, government-enabled capital spending.