In West Bengal, State Budget is prepared and presented by an eminent Economist all along, comments on Demonetization is made by Economists only unlike what is happening in central.
Fiscal deficit for the current year is down to 3.2% as against the budget estimate of 3.5%. Two things to be observed here. 1) GDP is down because of demonetisation fiasco. 2)Is the deficit much lower due lesser spending or higher revenues? If it is due to higher revenues, from where the government got this money (let us not try to convince ourselves by saying that it came from higher direct taxes on account of demonetisation. This amount is too small to bring about such a huge difference in deficit percentage). If it is due to lower spending on projects, which are the areas deprived of developmental funds? Lot of clarification is required on these and such other points.
Very good budget MSME,s progress depends on Cheaper finance also to be competitive Govt is helping maximum possible But Banks,State Financial Corporations and Non Banking Finance Companies are not cooperating If wants to change the one of the above They have a clause in agreement to charge penalty of 2 to 5% however this is unfair MSME,s are not equipped to know about this and signed that big agreement in FAITH WHY THERE SHOULD BE PENALTY FOR PREPAYMENT? Kindly get it corrected like it was corrected for Home Loans Thanking you
FM says inflation is down considerably, but I as a common man am continuously shocked at the manner in which food cereals and grains prices keep increasing on a monthly basis - where is the relief if inflation has been curbed. Seems to be hollow claims
Re: Inflation
by FRANCIS DIAS on Feb 01, 2017 03:23 PM
That is because the FM does not go to the market for his purchases. And any bania would send him his food supplies at Cost Price if not less.
Re: Inflation
by Truth Prevails on Feb 01, 2017 03:42 PM
Reduction of inflation doesn't mean reduction of prices. It only means reduction in growth in price increase.
If prices are reduced it is called deflation.
Please learn basics before passing comments on something important.
Re: Re: Inflation
by Nandkumar Shetye on Feb 02, 2017 09:03 AM
True, people need to learn basics.Those who criticise budget is actually doesn't know what it contains & what are the benefits..This budget has covered almost all the areas.We expect benefits only upto personal level.
Re: Inflation
by mohinder bhatnagar on Feb 01, 2017 05:17 PM
Are you sure of what you are talking? Prices of daals that had touched Rs. 200/kg six months ago are back at Rs. 80/kg. Vegetables are selling at never-before-rates (of at least 2-3 years ago).
Re: Inflation
by Shahanshah on Feb 02, 2017 11:00 AM
In Bengal, the price of most of the daily products are high... who is responsible.... bazar mafia, dalaal, hafta vasuli, party politicis.... an mamta bano.... no body cares anybody in bengal... hayway state... mind it.!
FM in his speech mentioned that salaried class is the main contributor for the income tax and are taking the burden of tax evaders. Reward is annual saving of 12500!!!! I am sure that Mukesh Ambani may not be paying the income tax as he will be getting all his emoluments as dividend from the shares that he is holding - which is tax free!!!
FM in his speech mentioned that salaried class is the main contributor for the income tax and are taking the burden of tax evaders. Reward is annual saving of 12500!!!! I am sure that Mukesh Ambani may not be paying the income tax as he will be getting all his emoluments as dividend from the shares that he is holding - which is tax free!!!
Re: Re: Income tax
by Ramesh M on Feb 01, 2017 04:45 PM
Very well said Keka Baidya. So true. Many in India still have a (pseudo) socialist and (pseudo)communist attitude, blaming the rich for their plight. India has always been a land of opportunities for those who TRY. The lazy ones are the biggest complainers of inequality, injustice and blah blah
Re: Income tax
by jignesh narayan parmar on Feb 01, 2017 04:39 PM
Dividend which one gets from shares is INcome of the business after corporate taxing . So how can u put a tax on dividend .
AS per our FM 1.72 lakh show income more than Rs 50 lakh a year, but 1.25 cr cars sold last year. Two crores Indian travelled in in 2015. On basis of this fact the FM concluded that India largely a tax non-compliant society . Things should be kept in mind that our Govt. has collected indirect tax on those 1.25 cr cares and service taxes on those 2 Cr. travelers. Why Govt. is always diverting peoples mind that people of our country are not paying taxes. From morning to night every things we use are mostly taxable in indirect tax form. The Government should work on how to cover more people in direct tax net rather diverting our mind. Is there any answer --- Why those persons who bought cars and travelled abroad did not pay direct taxes but paid indirect taxes ? . The governments focus should be on same .
Re: India largely a tax non-compliant society, says FM
by Dipankar Mukherji on Feb 01, 2017 01:50 PM
What about the old cars purchaser. Traders community still go on two wheeler.
