Thursday, March 4, 2010

Budget 2010-11

Feb.27, 2010, a day after the union budget was presented, The Times of India proclaimed, “Time to shine” and also said “ investors richer by Rs. 70000 Cr”. But also contradicted by saying, “ No pay-offs for Mr. 10 per cent”. They did not go below Mr. 10%. The editorial ‘Going for feel-good budget’ was a crowning glory with ‘budget is a well-rounded effort at economic management'.

Deccan Chronicle was not far behind. It proclaimed, ‘ joy on the home front’, 'saving spree for tax payers’ and ’60 percent of tax payers sing FM tune’. The editorial said, ‘feel- good budget for growing India’.

Only Jayanti Ghosh in DC wrote, ‘FM has ignored 95% Indians’.

I have a few questions:
1) What percentage of Indians are investors?
2) What percentage of Indians has income enough for tax payment?
3) How did someone arrive at 60% of taxpayers being benefited?
4) How will the people who earn less than 1.6 lacs a year manage increase in excise duty? As Jayanti Ghosh says 95% are ignored.

Intentions of the government may be good so far as expenditure part is concerned. Ofcourse it is not done to talk of defence expenditure.

Minimum wages act is a state subject, but where Congress is in power minimum wages can be raised to the level of junior most worker of PSUs.

Only intentions are not enough, there must be justice as well.