Where the budget pleases and where it hurts
HYDERABAD: What does Finance Minister Arun Jaitley have for the common man? He indeed has a bag of goodies for the middle class, perhaps with an eye on the slew of Assembly elections next year. But, Mr. Jaitley has not lost this opportunity to garner income by raising taxes.
The common man has nothing to do with the very volatile and evolving business world but he has his own dreams. The salaried classes expect the tax slab to be raised for women, for senior citizens and the very senior citizens (80-plus years of age), more deductions to be introduced to these categories, easy loan facility for housing and for higher education and less expensive facilities.
Mr. Jaitley, however, had different things in mind, some helping the common man and the others burning a hole in his pocket. He made no changes in tax slabs but allowed some fresh exemptions through which Rs. 4.44 lakh in taxes can be saved per annum. He also introduced Sukanya Samridhi Account for girls below 10 years with an attractive interest rate and tax benefits
Here is a list of some items that will become cheaper or expensive:
- Microwave ovens, refrigerator compressors and electricity insulators.
- Locally made mobile handsets and tablet computers.
- Leather footwear priced above Rs. 1,000 a pair.
- Solar water heaters.
- Pacemakers, ambulance and ambulance services.
- LED/LCD panels, LED lights and LED Lamps.
- Peanut butter, packaged fruits and vegetables.
- Visit to museum, zoo and national park.
- Eating out in restaurants as service tax hiked to 14 %
- Aerated drinks, flavoured drinks and packaged water.
- Cigarettes and other tobacco products.
- Completely built imported commercial vehicles.
- Plastic bags and sacks.
- Business class and executive class.
- Visit to amusement and theme park
- Music concerts.
- Liquor, chit fund and lottery.