If you subscribed to my blog before Saturday (Or Friday depending on your time zone) I sent an email asking your views on Indian Union Budget and I got variety of response. So here is a composition of yours and other fellow reader’s views.
If you subscribed to my blog before Saturday (Or Friday depending on your time zone) I sent an email asking your views on Indian Union Budget and I got variety of response. So here is a composition of yours and other fellow reader’s views. If you do not see your response in the list below this means your views were same or similar to some other reader who was quick enough to give views quicker. I have my own views as well in italics below each of them
Brij Kumar Singh
Nothing new in this budget. I can sum up” A budget of the Babus, by the Babus and for the Babus”. It is a govt in the name of AAM AADMI for the politicians & Babus and by them.
We talk a lot about common man but let me have one thing in this budget for the common man.
I don’t agree with you on this and I think Tax Rebate of increasing the slab upto 5 lacs is good for the common man. This may be steps towards New Direct Tax Code.
Short term :- Rise in food & other inflation
Long term :- Promotion to agriculture by Finance minister will increase the agriculture output ultimately will increase the purchasing power of the masses & economy will grow as per set targets.
Its Ok types.
As our FM is claiming to beat China Economy its obvious to increase the duties and all.
It would give a surge to corporates……
hi 2 all i m priyanka singh doing MBA in finance& HR as we get surprises every year about the budget what i think people starts to learn some home management tactics so that they use only limited glossry items and avoid wastage thus when the demand for expensive products become less from customers side automatically company have to think abut reducing the prise of there products to finish there stocks as there demand from the side of customers become low…and people start using bicycles again to go anywhere thus there health is also maintain n some savings on petrol will be possible there may b possibilty of growing market of battery bikes n scooty as the rate of petrol grows…and as the budget gives us an huge benifit of reducing the prises of childrens toys n games items we start giving gifts of toys n games in very occations to one another…….
Nice idea to kill the demand but I don’t think this will work because demand is something which is always growing for us.
As a retired employee I had hoped that the tax exemption limit would be raised a little higher. The rising of upper limit of the first slab from three lakhs to five lakhs will not help marginal tax payers like me who will be still in the tax net. The reintroduction of the Infra structure bonds is a good idea and I am of opinion that exemption limit should be raised further even if corresponding reduction is made for exemptions under 80c etc as this is the prime area where investments in large scale is a must.
it is certainly an inflationary budget. today’s growth potential will be eaten up in the near future.
Our budget is not good because if u r incresing petrol’s prices then everything will be costly
Abdul Ofoor A
thanks 4 d mail. i think it is a good budget. Because, the national income level will increase without hurting the people directly.. the hike in petrol and diesel will also prevent the usage of these. 🙂
Nice and contrasting views of Abdul Ofoor A and Pankaj Shrimal on same things.
Have more views to express? Leave them in comments.
Olevia Wormuth says
First, solid posting in Views on Indian Union Budget – Readers Perspective , just drifting around umteen web sites, appears to be a really good platform you are utilising. My slogan – Folks are going to say what they need to say. In the close, they always do. The most we can yearn for is to spotlight a couple of matters here and there that hopefully permits them to make an advised decision.
chetna dabral says
i think budget was quite thoughtful.As our finance minister gave 10% relief to middle class people.Reduced price of books,investment on solar power,investment on the development of laddakh,most importantly rise of sensex by around 300 points on the day of budget itself clearly shows that its really a good one.I think with this budget our country gonna become economically stronger.
But there is also a negative side of it,already prices of every food item are very high,in addition to it,prices have increased rather than being decreased.so this is really a darker side of budhet.This part is even worst for people who do not fall in the annual income of 3,00,000 and above,as already they are not getting any relief,and in addition to this price hike,its going to kill them.
Personally i do not mind price hike of jewellery,gold,platinum etc etc as these are just for fashion purpose.But basic necessities like food ,education,electricity etc etc are very important.I think,its more important to think about families which are just above the powerty line.
smit sheth says
Well, the first review of the budget reflects that it is a geoth oriented budget and will lead to growth, rather industrial rowth. but if we undergo a through analysis of the union budget, the following points can be derived.
– mere the allocation of funds doesn’t mean growth.
– the rural sector has been given importance and funds accordingly, but proper framework to utilise these funds in a way that they lead to growth has not been given
– there are so many sectors which ahave remain untouched in this budget.
now, the changes in income tax slabs:
there is no doubt the assessee is going to get benefit as per his/her income slab;
but, this applies to the people who has income above Rs. 3,00,000.
the people having income of below 3 lakhs or 3 lakhs had not been given any benefit.
what about these people.
are they not the “Common Men”?
and look at the steps or the framework that our rspected Finance Minister has given.
1. No benefit to people having income less than or equal to Rs. 3 lakhs
2. in addition the prices of Petrol and diesel have increased. this will result in increase in prices of all the commodities due to costlier transportation
in addition the prices of Cement, Steel and iron have beeen increased, it will result in increased property prices.
3. and the increase in excise duty will reflect incraese in prices.
now, here there will be increase in prices on two steps.
1. direct increase in prices.
2. Increase in prices due to increased transportation cost and increased excise duty.
We can take the example of car manufacturing companies.
the car manufacturing companies had increased the prices in cars immidiately at the day of budget. and the reason given to us was the increase in excise duty.
and now, after sometime they will increase the prices with a given reason of increased steel rices and increased transportation cost.
NOW, THE QUESTION HERE IS THAT, WHERE IS THE COMMMON MEN IN THIS?
the tax experts say that the budget is reallt very good because the finance minister had allocated funds in some respective sectors, which may lead to growth of the country and the economy and the pther reason, in fact which everybidy is praising very much is the benefit in tax slabs. i have seen on 3 to 5 news channels that a person earnigng Rs. 8 lakhs will be getting the benefit of Rs. 50,000.
but the person earnign Rs. 8 lakhs; do he require much more tax benefits? will he be affected a lot with increased fuel prices as the person earning less than Rs. 3 lakhs will be afffeccted?
who needs relie? who needs benefits and who has been given?
the tax benefits which are given is taken off by increase prices in commodities and the remaining is or rather will going to be taken back by increased fuel perices and increased excise duty.
This was my openion.
Jaspreet Singh says
i think its a nice budget, our FM has done great .
the price rise in fuel is also a good step , as we all know that a bit of hike is necessary for growth, otherwise we will be stagnate.
Krishna Kanth says
Dear Mr. Shabbir,
Thanks for your invitation asking for my take on the budget. I am a salaried person with 4 dependents. My annual gross salary is around 2.4 lakhs & I am from Visakhapatnam, a Tier II city with around 2.3 million population.
I was not too shocked with the budget, because, I had no better expectations from our FM & our PM who actually is the budget’s mentor. What purpose will enhancing the Basic Tax rate by 10,000/- serve? Won’t that get neutralised by inflation in 6 months? (Too long a time, by the present trend). Widening the Tax base is a macro economic necessity, but there are better ways & a better time to that.
Was the FM actually trying to channelise the increased savings of the Higher income group (consequent to the tax reduction) into the secondary market?
The country is actually heading towards a food & water crisis & no efforts seem to be made in that direction. Apart from the defence allocation, nothing else seemed justified to me in this budget.
I am not a communist, I myself hate them. But, this budget is directionless, & is aiming only at enhancing revenues for the govt. just to maintain status quo. The disinvestment itself per se is flawed, as it resembles a drunkard, who makes no effort to improve himself, but makes merry with his habits by selling of his valuable possessions, mindless of what happens after all are sold. Where do the proceeds go? To “Social sector spending”, where contractors, who are “incidentally” the kith & kin of the politicians get to “build infrastructure” .
Easier reforms like revamping the Consumer Price iNDEX etc. weren’t thought of. Pricing of Petrol products is highly defective in India. The quickest & most convenient means of compensating the oil companies is price hike. Agreed that subsidies are misused in INdia. But, also flawed are the pricing components of the oil companies. The normal loss allowed in processing/evaporation etc. due atmospheric changes etc. allow a lot of hidden built in margins for the oil companies. All such intricacies are easily overlooked & often all the learned men lament about compensating the oil companies.
Reduction of duties on products like mobile phones is certainly unwarranted.
On the whole, it didn’t at all seem to me that a budget was presented at all.
You may find my opinion biased, based on my profile in the first para. But honestly, what has the budget got for people like me or has it opened up any new interesting investment opportunities. I can’t think of a single aspect, which would be of benefit to millions of middle class earners like me.
Zach Philip says
This year’s Budget will help the common people since the tax slabs have been increased. However, food prices should be controlled. I think it would be a good time to invest in the market now since the budget is over. I think Nifty is bullish now and therefore investing in the mid-cap stocks would be a great idea.
Great Blogger says
I think this budget is not an event for the stock market where people are un-necessarily getting excited about it. You will not feel it after couple of days and so this should be a good exit points for market experts.
This is something really interesting to see from you.