BUDGET- END OF SUSPENSE. ======================== So finally the govt has spoken.Calulators are busy computing individual tax reliefs. The IT relief is across the board for all slabs as what is amended is exemption limit,80(C) and HL int.In a subtle way FM has passed on the benefit to high income groups also. Looking beyond as an Individual, I feel I have been served a huge THALI,where a little bit of everything is provided for all.After all Gujus are known to serve big sized Thalis and the PM has not disappointed.But looking at the broader picture , a few things strike me: @No big bang announcements. @No whole some decrying of what the predecessor did.In fact accept some like GFD at 4.1% as a challenge @Be grounded on figures.They all look credible/achievable. @Make the vista large with at least nominal investment like say- inter river linkages- amt Rs 100 Cr for preliminary study.Every aspect of infrastructure like roads, shipping and even tourism finding attention. @No increase in direct taxation @Investment Allowance for even small units @Tax administration to be less draconian @Banks to fund Infra through LT funds which are differentially treated for SLR/ CRR One jarring note is the reticence to accept that retrospective tax is bad in law and business ethics.On the other hand there is belligerent reiteration that this is the sovereign right.It is now left to a committee of seniors in the IT dept to re look and validate what the junior officer has done by way of assessment.Really retrograde in my view. On the whole congrats o the Jaitely Modi team for presenting a budget which has has honesty and credibility written allover it and having a proper orientation.
Posted on: Thu, 10 Jul 2014 11:59:17 +0000
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