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  • Category: Miscellaneous

    Annual Budget for 2017-18; what do you like or dislike in the budget?

    This budget had certain new things to be observed. This is the first budget which combined General and Rail budget. It also has the shadow of upcoming elections in Uttar Pradesh, Goa, Punjab, Uttarakhand and Manipur, the election commission's restrictions and much more. What is your general take on the budget presented by Sri Arun Jaitley? Have you given some thought to it?
  • #589641
    Prasanna, let us wait for the presentation to be over before initiating half baked discussions. I am shifting this thread to pending status for the time being. Will check out and do the needful later.
    'Real knowledge is to know the extent of one's ignorance'- Confucius

  • #589669
    The budget having been presented, the thread is being reopened for some fruitful and serious discussion.
    'Real knowledge is to know the extent of one's ignorance'- Confucius

  • #589684
    I think the tax slab 2.5 to 5Lakh remained 5% which is big disappointment. I wished for it to be NIL. Considering the prices of food, transport and healthcare rising every year. It was expected for people under 5Lakh to be exempted from tax. Even charging 5% will keep them under tax bracket and will make them worry for low earning that they are into. But then again, they want to keep everyone accountable.

    I like how this government is taking bold decisions, instead of not taking any decision like congress. Some good things were declared in the budget. So yes, happy on some front but not so happy on others.

  • #589690
    I was expecting a wholesome largess for the general public who have literally donated all their hard earned money to the bank for 60 days and in return they are denied of best treatment. The income tax slab rate of 5 percent should have been removed. The NDA government knows that the ordinary citizens who are mostly the salary class are bound to come under the tax bracket and thus Modi government should have addressed this. And details of Railways proposal concerning to Telangana is not yet known to me fully. In shall revert back on what the NDA government has done to Telangana in Railway budget.
    K Mohan
    'Idhuvum Kadandhu Pogum "
    Even this challenging situation would ease

  • #589703
    I don't have much knowledge to read and understand entire budget and so I can't give generic comment like good budget or bad one. With respect to Personal Income Tax, slab rate could 5%, 15% and 25%. Tax has been reduced to 25% for the companies which are earning less than 50 crore and 90% of the companies are falls under this category. It looks strange to see personal income tax rate(30%) is greater than corporate(25%).

    Also the limit under 80C, Medical expenses should be increased. Limit for medical expenses had been fixed 2 decades ago and I don't know whether government thinks that inflation doesn't affect medical field.

    Government itself accepts in the budget speech that salaried class are paying more taxes. Benefits / exemptions are not given to salaried people instead of taking steps to bring non salaried people under tax bracket.

    Thanks,
    Suresh.


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