Maintaining income tax rates and restructuring GST norms –Budget 2021 will need to continue on the strategic path chosen in the previous year, i.e. reduce consumption and increase investments. With this in mind, tax rates for higher-income groups were increased last year while dividends were also included as part of regular income, and the Dividend Distribution Tax was removed. This proved to be beneficial for the industry. Therefore, there is no need to make a change in tax slabs. Rather there is an ardent need to rationalize GST. The recent resilience in GST collections points to an increased shift to the organized sector from the unorganised. GST rates need to be simplified and the slabs need to be reduced to increase collections and participation. Along with this, there is a need to ease GST norms and reduce the GST rate to encourage people to spend more. This is even more significant in today’s scenario as consumers need to be given more money in their hands so that demand and consumption can be increased.