due to the coronavirus pandemic and its influence on various sectors of the economy there is more interest and expectations from the budget this year every year the finance minister presents the budget on february 1 2022 finance minister nirmala sitharaman will present the fourth budget of the modi 20 governmenttaxpayers expect that budget 2022 will include tax rate and surcharge reductions as well as an increase in the deduction available under section 80c an increase in the housing loan repayment exemption dividend tax relief capital gains rationalisation across different asset classes the elimination of securities transaction tax and the removal of gst on services provided to the general publichere is a list of some of the expectations of the common man from the union budget 20221 hike in 80c limit with the pandemic and rising inflation in consideration the government should raise the section 80c ceiling to at least rs 25 lakh per year in the union budget of 2022the cost of living has risen dramatically compounded by the pandemics negative consequences as a result the current limit of rs 15 lakh should be reviewed with a minimum rise to rs 25 lakh in budget 2022 this will also help the government achieve its goal of ease of living as well as individual taxpayers reduce their tax burden heres how doing so will not only aid the individual taxpayer but also the government click here to read the full column2 hike tax exemption limit for health insurance under section 80d the current tax incentives do not incentivize consumers to purchase adequate health insurance the government should have two objectives under section 80d to encourage more people to buy health insurance and to make sure that they buy the right amount of coverage to do this section 80d income tax exemptions should be increased ideally doubledthe gst reduction has a direct impact on overall insurance pricing making it much more affordable to buy the gst tax slab will be cut from 18 percent to 10 or 5 percent resulting in an immediate increase in health insurance enrollment the reduction in gst has a direct impact on overall insurance prices making it considerably more inexpensive to purchase the gst tax slab to be reduced from 18 percent to 10 or 5 percent which will immediately improve the uptake of health insuranceaccording to government figures nearly 70 of health care costs are covered by personal savings this is a significant amount and personal funds should only be utilised as a last resort for medical bills when insurance has been exhausted click here to read the full column3 hike in benefits for home buyers the threat of covid19 continues to throw gloom on the real estate sectors bright prospects as a result the expansion and continuance of demandside policies such as tax breaks and incentives for homebuyers would only enhance the real estate sectors fundamentalscompleted projects continue to be preferred by home buyers because they result in cheaper tax bills and avoid the