InvestorQ : Should we expect a coronavirus cess in the Union Budget FY21-22?
Rutuja Nigam made post

Should we expect a coronavirus cess in the Union Budget FY21-22?

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natasha Samani answered.
4 months ago
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This could be a possibility. Lower revenue collection and higher expenditure have been the result of the pandemic we are in the midst of fighting. Thus, the government would require all the ammunition it can gather to pull the economy back on the path of high growth. Additionally, the cost of COVID-19 vaccine will increase the government's expenditure this year.

Media reports have suggested that government has already held preliminary talks on revenue-raising measures. However, a final decision on whether to impose COVID-19 cess or surcharge will be taken by the end of the month. COVID-19 cess for high-income earners may become a possibility. Furthermore, the government may add a cess to excise on petroleum and diesel on top of custom duties. Thus, the cess is something we should be prepared to pay for in the near future.
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