I just read a status update by a friend, post the Budget, which read as:
“Such a stupid budget… Don’t give good education to your kids, coz it now costs more. Don’t go to good hospitals, as it’ll cost more. Welcome to obese India, gym costs more. IT enabled India is not for us, as internet and mobile cost more. Promote white money… Debit and credit card costs more. Trying to buy a house… Forget about it, you have still not saved enough or would be able to do it soon.”
Common man’s wait thus, continues for some super alien to come and make India a better country.
Service Tax and other Tax Regime Implications which have seen increase in Tax Rates, thus increase in cost to consumer and which will thereby lead the pockets to cry:
- Coffees in Coffee shops
- Restaurants
- Movies in Multiplex
- Banking Services
- Services of Beauty Parlour
- Traveling in Air-Conditioned Buses
- Air-Conditioners
- Cigarette
- Microwave Ovens
- Pulses and Sugar
- Tea
- Kitchen Chimney
- Salt
- Pickles
- Refrigerator
- Music System
- Cars and Motor Vehicles
- Books and Periodicals
- Dry-cleaning
- Taxi Fare and Bus Fare
- Hotel Rentals
- Consultancy Services
- Legal Fees
- Pan Masala
- Set Top Box
- Plastic Surgery
- Beer and Bar
- Branded Jewelry
- Air Travel
- Courier Service
- Tour Operators
- Washing Machines
- Headphones
- Milk
- Perfumes
- Camera
Tax Rates Reduced, a welcome step
- LED, TV
- Leather Items
- Kitchen Utensils
No doubt, deductions have been given, certain rate of taxes too have gone down, many proposals favoring the SMEs, Startups, Senior Citizens, SC/STs and the under-privileged have come up. Skill development, Education, Welfare and Health sector have also been considered, but these are what impact in a long-run.
The common man stands disturbed, on the immediate impact on his finances, on his day-to-day expenditure.
Overall, with most services that we shall have to undertake or products we shall have to buy, we shall have to shelve more towards tax, this stands to pro Aam Aadmi. Luxury is now luxuriously available. It now says “Think before you Spend”.
It may seem towards a “Make In India” on a corporate note, which indeed it is, but it surely is a “Shake the India” for the common man. From the common man perspective, I stand confused between a Thumbs Up and Thumbs Down, especially with respect to the basic and day-to-day amenities.
(The above has been authored by CS Reema Jain. For any queries or suggestions or feedback, she can be approached at reemajaincs@gmail.com.)
Vsnmurty ji,
I would like to correct you, it’s not stupidity.
It’s about the normal living ..
Hi,
If you feel bad that Corporate schools hospitals air travel star hotels have become costlier,think of those millions of compatriats whose income is less than 100 Rs per day Stupidity not be Exhibited,
Common man will not be benefited , Save more spend less . ( How ? )
Spend less save more ( from where ?
Dear Kuldeep,
Reiterating what I have mentioned, there are positives as well as negatives.
There is MakeinIndia, but there is taxing the common man.
So, I have put a conclusion on a confusion between a Thumbs Up and a Thumbs Down !
Dear reema ,
Thats what i said that its not a “shaking budget for common man”.
There may be few things which have become costlier but there are lot of things in th social security,health,education so if put this budget on a cost -benefit analysis test …its beneficial for all.
“Sabhka sath sabka vikas”
Dear Kuldeep,
It indeed is a MakeInIndia budget aiming towards rationalizing tax structures over a 2-3-4 year period. I do not doubt this, and have included this in my views too.
But there are
certain factors, which will immediately impact the common man, his monthly household budget and of course his planning towards leisure.
When all stand taxed at a higher rate, the common man shall suffer.
Over a period, as put forward by Mr. Finance Minister, things are bound to streamline towards a progressive India, and then maybe, the common man, the salaried class shall not suffer.
Dear Kuldeep,
It indeed is a MakeInIndia budget aiming towards rationalizing tax structures over a 2-3-4 year period. I do not doubt this, and have included this in my views too.
But there are certain factors, which will immediately impact the common man, his monthly household budget and of course his planning towards leisure.
When all stand taxed at a higher rate, the common man shall suffer.
Over a period, as put forward by Mr. Finance Minister, things are bound to streamline towards a progressive India, and then maybe, the common man, the salaried class shall not suffer.
Thanks Shobhan Ji.
I support the views of CS Reema Jain.
The salary earners are among the honest tax payers as their tax is being deducted at source. They do expect to have a tax structure that affects least to them directly. People are engulfed with a host of indirect taxes, which are being honestly paid but one is not sure of the extent these reach the Govt. exchequer.
This budget attempts to squeeze out much of the earnings of common man, I predict.
Dear Learned Author,
I want to comment on the budget and your views in following points
1. As far as my opinion is concerned I completely disagree with this view on the union budget and your friend’comment quoted by you.
First of all let me clarify that it’s not a “shake for india”s common man budget”. Everbody who is calling it a pro-corporate budget needs to understand the scenario from a board and neutral mindset ..(i am not questioning capabilities and knowledge of those persons-they all are highly learned)
2.As its been understood by many persons that the Budget is pro-corporate and tax rates reduced and N number of other things…so let me put light upon what the FM has stated..”he said the corporate tax rate will be reduced from 30-25 % within next 4 years by taking away the various exemptions it’ll be effective from 1-4-16 as we look forward towards a stable tax regime not a tax regime with surprises.”
So one can question the implementation that to later on if the roadmap lad-down is not followed but we can’t criticize the budget ..and over and above if somebody still wants to criticize it than you may call it a “antl-rich” budget (not in my views) Not “anti-poor ” or “anti-middle class”.
3.There is lot of “hue and cry” over things getting costlier and affecting the pocket of common man that too need a in-depth analysis…
e.g. If a person spends 10,000/- per month on your food,entertainment,gym n other expenses…
The increase in service tax going to cost him/her only 200/- more (approx) and i am pretty sure that a person who spends 10,000 Or more this increase of 200/- is not going to be bother him/her a lot.”
4. According to me we are confused in ourselves…..we talk for social security,general amenities,clean india .we want a living standard like other developed foreign countries and on the other hand we cry for “freebies”, “subsidies” etc.
Friends we have to move out of this “subsidized mindset” if want to move forward and achieve greater targets in long term.
5. In the last I believe that this budget is a pro-development budget,this is a budget which will change the meaning of social dynamics and india’s economy will surely the achieve the expected growth rate and targets.the ease of doing business,relaxation in the regulations,special schemes for providing finance to small and mid-scale entrepreneurs,digitization will surely help the middle class in order raise their living standards.