Budget what to expect
Frankly I have no clue about what to expect. However I know what people will say:
1. The FM should raise the taxable exemption limit by at least Rs. 50,000
2. The exemption limit for women should be raised by Rs. 75,000.
3. There should be a separate limit (like 80 C) for repayment of home loans. This will encourage more people to buy houses and will in turn increase the demand for cement, steel, etc. (please remember the biggest beneficiary of the HOME LOAN tamasha is the home finance industry – SBI alone has a Rs. 100,000 crore HL portfolio).
4. The limits for medical insurance premium deduction should be increased by Rs. 15000 at least (remember the general insurance lobby is getting stronger).
5. 80 C limit should be enhanced to Rs. 300,000 at least (poor life insurance and mutual fund industry are wondering what to do next, at least if you are Fidelity or AMP you can leave the country!)
6. 80 C there should be a separate limit for life insurance companies alone.
7. The income of people above the age of 80 should be made completely tax free. (Senior citizens forum)
8. The government should reduce the prices of gas, petrol, diesel, etc. should be reduced by reducing government levies. (the car lobby is amused that the government’s policies- supported by the left are actually reducing the market cap of IOC, Hpcl, Bpcl, Ongc and increasing the market cap of Tata motors, Hero Honda, M&M, etc…)
Ultimately experts say what they want, then experts say what happened, then they say why many of these things DID not happen.
God bless the experts, God bless the over worked anchors, God bless the parliamentarians who hear the bill and pass it…
Generally, God Bless!!
Ashish
Subra Sir – no ‘God Bless’ the Mango Man (aam AAdmi)???
Mahesh
🙂 … I say would the real man please stand up … but again ‘God Bless’ the country … 🙂
Siva
Dear Subra,
Initially I thought this post is real opinion of yours. From 3rd point you proved me right. This post is real you! About your “Left comment” they should be there, otherwise no fun will be.
Diesel price goes up, grocery and veg price goes up, expense goes up, tax margin goes up, many goes up… What will go down?
anon
Loved this post.
Rajeev
It is futile to expect anything logical. Looking at the farce of the Railway Budget being played out in public, we should expect another political budget, with sops to all possible lobbies and no source of money. Means more deficit.
The Railways should be operated as a business and not a political tool for distribution of subsidy. Why have the Minister present his companies financial planning in Parliament in the first place.
As for the Budget, expect the food subsidy bill to go sky high.
Regards
Prabu Raja
// at least if you are Fidelity or AMP you can leave the country!
// separate limit for life insurance COMPANIES alone
// Generally, God Bless!!
Crazy.. Lol 🙂