India Union Budget 2016: A bit disappointed / myLot

India

February 29, 2016 5:00am CST

I was expecting the Indian Finance Minister Arun Jaitley to provide some more tax relief for the middle class- raising tax exemption limit, may be by a small amount. This has not been done. But what is even more worrying is an additional 0.5% addition to the already high 14.5% VAT. Now, eating out in Restaurants, flying by planes is not as luxurious as it was 15 to 20 years ago. And raising cess on smaller cars is also a dampener, in absence of sufficient increase in public transport facilities, it will be an increased burden on middle class. Looks like FM has certain upcoming elections in mind.

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2 responses

Nitesh mundhra

@nerdnitesh (272)

•

29 Feb 16

It was all predictable they have to acheive fiscal targets and take care of our economy Overall great effort You will see effects in days to come .stay positive

2 people like this

vanny

@vandana7 (98834)

• India

10 Mar 16

I am against land acquisition. I want land equitisation, meaning, transform the land values into equity type of holding. That way, the farmer or whoever is losing the land gets rights to sell it as and when he needs to and earns monies as long as he or she is holding it. The values should be determined by mock auctions.

1 person likes this

vanny

@vandana7 (98834)

• India

10 Mar 16

I do not expect much from this finance minister for middle class until the last budget. So don't have much hopes.

1 person likes this