Budget Blues

 Every time a budget was being presented, salaried employees used to crowd around the radio/TV to check if income tax rates were being reduced. Maybe corporates for the same reason- corporate tax on income, in their case. 

Today, the middle class is probably much better off than 20 years ago. So maybe the I.T. rates are less of a concern. But maybe they still look for other sops, particularly for senior citizens. Interest rates being low, their savings are not going to earn much, and surviving with greater medical expenses may be a challenge for some.

Farmers have nothing much to worry about, at least from the budget. Their demands are taken care of through other channels. Small businesses or potential entrepreneurs may look for entrepreneurship-boosting initiatives. 

Post Script: Taxing the Provident Fund interest seems like a bad idea to me. By this logic, rich farmers ought to be taxed before any more tax is levied on the same segment- the salaried service class.

No comments:

Long Awaited Goa Trip

 It finally happened. The family went on a vacation to Goa and stayed at a new place in Candolim called Lillywood Highland Resort. Also foun...

These Were Liked a Lot