In West Bengal, State Budget is prepared and presented by an eminent Economist , comments on Demonetization is made by Economists only unlike what is happening elsewhere.
All brouhaha all melodrama for the last 3 months reduced to 5% tax cut which is max Rs 12500 3% cess 875- actually much less because with basic minimum savings and PF contribution it will be 5000-7000 cess. Apparently you can earn in crores as farmers and pay 0 % tax and as businessmen gets crores as tax free dividends. Companies upto 50 crores turnover earning ( or showing book profit after numerous manipulations and personal expenses)5% income i.e 2.5 crore gets tax relief of 5%- Rs 12.50lakh!I am not mentioning salaries/perks/ pension benefits of ministers , MPs MLAs which continues to burden the exchequer but will never be removed. And poor salaried middle class continues to be fooled in the name of a)economic measures for long term gains (20-25 years??) b) being patriot:sacrificing for the nation C) sacrificing for your children. No mention of introducing transaction tax gradually because of fear of strong business lobby. So it is a potboiler masala movie of 70's with bombastic speeches or dialogues by a super powered hero(!)promising slaying of villains and Acche Din to poors, coming to an end which unlike a real entertaining movie leaves you depressed.
