The FM has scr***d the middle class once again - especially the Urban middle class. His charity in increasing the IT expemtion limit by Rs 20000.00 means nothing as the savings is just Rs 166.67 per month. This is insignificant considering that inflation has already meant that the average expenses for even simple survival hasgone upaminimum of 4 to 5 times that amount. He has also hit this very section by bringing in new entities into service tax net and doing nothing to absorb the increase in fuel costs. Infact,just after this session of parliament,it is expected that price of petrol wuld rise increasing inflation further. His action intargeting healthcare with Service Taxis appauling to say the least. Pity is that not one Congressman was asked about this.
It is absolutely a pity that the Govt has been pushing for growth when it means nothing to the common man. Increase in social sector spending once again means nothing as people know where that money will go.
The FM has just mentioned a few lines in his budget about black money and there are zero efforts to bring back all that money. If this money were to be brought back, surely India would have had a surplus budget.
In short it was a budget that is easily forgettable. Surely it is a typical Congress budget. Only the Congress has the capability of scr**ng the middle class and yet get their votes.
The sensex these days only needs a reason to rejoice and rise for no obvious reason. This is a patchy budget and does not show any departure from the basic tenet "TAX THOSE YOU CAN". Noose is tightened more and more around who can't/don't evade the tax anyway.
One glaring example of this is the tax on interest. With the official rate of inflation howering around 12% and the real rate around 25%, there should have been some relief on this count. As savings int rate is around 3.5% and FD rate around 9%, all savings get eroded in real terms. On top of it the FM wants to charge tax on it at a rate as high as 30.9%? Isn't it unjust to say the least?
It's good that the GOvt has realized that its own retirement age is 60 not 65. That's when a person gets a large amount as a retirement corpus - mostly his own provident fund contribution. Since all tax free avenues like RBI interest free bonds have been closed by this govt several years ago, several pensioners end up paying more IT after retirement. It's not that this govt doesn't understand the problems. It doesn't want to give up on this cash cow. It's easy money with provisisons like TDS and abolishment of 15G/15H. Most people comply voluntarily anyway.
BJP NOTHING DO GOOD ONLY COMMENTS AND SCREW TP ALL INDIANS , FOOLING - CORRUPCTION , RAPES , BANDH , RELIGIONS ETC- BJP IN POWER WHAT NOTHING , ALL PARTYS ARE SAME SHAME INDIAN DIRTY POLITICS.
Re: HI
by Hebbar R on Mar 01, 2011 08:29 AM
If all parties in power are the same, why are you abusing only the BJP. BTW, in the last few months, how many scams have you seen involving the BJPand how many involving the Conress? What is the scam amount involved.
India is a weak eunich nation that promotes power to women, while all politicians get away with corruption and femi-nazi women wreck havoc on Indian families by 498a and other clauses to break the Indian family. Break up India, join to Miaoists to take revenge on the politicians of India and then see where they are when India is under a different system of governance! do not pay taxes, join Miaoists!
Re: Re: break up India and dump these corrupt politicians
by Moosalam on Mar 01, 2011 01:32 AM
I am not a muslim, but an Indian. Step out for a moment from what Indian media and politicians teach you, and think of what I suggested.
Mimimum Tax slab should have been raised atleast to Rs. 2 Lacs considering the inflation & rise in prices of essential commodities in last 2 years (congress rule). Even person earning Rs.20K per month but having family of father, mother, self, wife & 2 childrens i.e. 6 persons cannot satisfy their basic needs as per head income comes to Rs.3K which is nothing in today' days. As per constitution food, clothing, shelter should have been provided by the govt. Also govt. should have increased exemption limit of medical reimbursement exps & travelling allowances which is very low & pegged at Rs.1250 & Rs.800/- since years,
I respect the opposition on certain views like Pakistan etc where they have a strong point to express, but in areas like finance better leave it to the Experts like Pranab da and Dr Singh In the former view also the opposition can make only noise and not any concrete steps
Re: Budget 2011
by Supersecualirist on Feb 28, 2011 06:06 PM
Even assuming that certain benefits are given to certain sections of society, still it is the tax payer's money and not paid from the pockets of Pranab da or Dr. Singh. By the way, somewhere I read no audit has been for the money spent on NREGA. Since the money spent a huge sum as in the case of Spectrum, such audit is necessary.
Re: Re: Budget 2011
by Manas Bramha on Feb 28, 2011 06:38 PM
Going by Dr. Singh's view, only Mussies have rights to resources of this country, othrs should starve to death. Ultimately making India an Islamic republic of India.
Re: Budget 2011
by Hebbar R on Mar 01, 2011 08:34 AM
The opposition in India does not have the required space to contribute more. That is a fact even if the Congress were to be in opposition, which they will be in the next elections.
You are entitled to your views on MMS and Mukherjee. But, the fact remains that inflation and scams have been the highest when MMS was at the helm - as FM or as PM. Besides, he seems only inerested in grwoth of GDP and not improvement in the lives of people. His tax proposals as FM and even now as PM are clear indications of this.
Re: Budget 2011
by Karan Hi on Feb 28, 2011 05:12 PM
We are talking corruption.. and goverance ! Not Talks and Budget speech.. They try to show as if Congress is giving Subsidies.. It is Taxpayers money my friend..
Congress rule Favours Middle Class And Rich ! Because they easily escape taxes and they dont have to depend on corrupt system on Subsidies.. Most of them have progressed over the long run with Congress in Power.. Still they are the ones which understand the Ugly Play of Divide and Rule of the Congress.
Where as the Minorities and Weaker Sections have remained the same or ever Poorer over the years.. They depend on Corrupt system on Subsidies which middle man or Class Upsurp it. Couple of Rice bags at subsidised rates and they would vote them again to power .. What a Joke
