Arjuna (Fictional Character): Krishna, Honorable Finance Minister of Maharashtra, Mr. Sudhir Mangutwar has announced the State Budget for Maharashtra State on the of 18th March. On 23rd March the festival of Holi will be celebrated. Holi is celebrated by playing colours and throwing water-filled balloons on each other. In this correlation, whether it is Budget’s Holi or Holi’s Budget, let’s discuss in a knowledgeable and playful way. Lets enjoy it, as “Bura na mano holi hi”.
Krishna (Fictional Character): Arjuna, Holi is the festival of colours. This festival is celebrated all over India. Similarly, everyone including the people of states other than maharastra have their attention toward the Budget, for changes in the State Budget for further Investment, Trading within State. In Holi, people play with coloured water as well as dry powdered colours. Finance Minister in the Budget, brings plans for various sectors and strives for the growth of State. On the occasion of Holi, various sweet dishes like Puranpoli, shrikhand, etc. are prepared in Maharashtra. Similarly the changes made in the Budget are, in the favor of the taxpayers to some extent and unfavourable for them to some extent, but if such changes are viewed from futuristic point of view, they can prove to be beneficial. But, due to the ongoing drought in the State, only dry colors of Holi may be played by many. A similar situation may occur many a times regarding the Budget when a scheme is announced without making adequate provisions. Once the Copy of L.A. bill is out, we will be able to see many more changes. The proposals below are given on the basis of the Budget Speech of honorable State Minister.
Arjuna: Krishna, Holi and Budget come every year and colour the taxpayers. Colors get washed out, but leave behind some things unsaid. What do these colors say to the taxpayers about changes in VAT in the Maharashtra State Budget? While coloring each other people mostly use “Pink” and “Green” as the favorite color. According to these colours what are the favorable provisions made in Maharashtra State Budget?
Krishna: Arjuna, Pink and Green colors depict happiness and benefit. Similarly, favorable provisions relating to Reduction in Taxes are as follows:
Arjuna: Krishna, what do you have to say regarding the relation between black and varnish colours with Tax evasion?
Krishna: Arjuna, there is a very beautiful relation between Black color and Tax Evasion. After the new government has come into force, Respected Finance Minister has given special focus on tax evasion. This means that the person engaged in tax evasion would be colored black.
Arjuna: Krishna, Which are the provisions of Budget that depict the Red color?
Krishna: Arjuna, Red color depicts danger and fear. Provisions depicting Red color of increase in tax rates are as follows:
Arjuna: Krishna, What should we learn from this discussion on State Budget and Holi?
Krishna: Arjuna, In this Budget “Pichkari” belongs to Sudhir Rao and “Colors” belong to Modiji. It seems this State Government’s Budget is a mixture of policy (colors) of the Central Government. People celebrate this festival by forgetting the envy against each other. In the same way people should take the budget positively and work towards the growth of themselves, their state and the country. This budget is a mixture of various colors. It is said that, cautiousness should be exercised while playing holi, thus, be cautious while playing with the laws as well. In budget, many people think that only they have been targeted, like it happens while playing holi. In the next year, there would be a shower of “GST” colour and that is why in this budget the use of the “colours” is less. As there is a drought situation in the state, more attention is given to the agricultural sector. In this drought year, the “Farmer may be cheerful and the taxpayer may be Stressful”. Further, different colours can be used in holi to colour the faces of your friends, relatives, etc but Black colour should be avoided. Thus, in financial life different ways may be used to earn money but not to earn Black money.
Dear Professional colleagues,
Wish you all a happy Holi in advance . Holi is festival of colours. In our professional life, due to stress of office, clients works,etc. we many times miss colourful life. Just Think and enjoy different Tax laws, like playing with different colours and make your life colorful. Let’s play holi with family and friends in this March stress, and be cheerful in the coming financial year. Life is full of Colours, just we have to see it by our own way.
Your Comments and Suggestion are always welcome.