He has also forgotten women altogether. Barring the meagre benefit that accrues from the raising of the personal income tax exemption limit to Rs 180,000 from Rs 160,000 for individual tax payers, there is nothing in the Union Budget 2011-12 for the common man to cheer about. Air travel, both domestic and international, will cost more. The new category of senior citizens known as the ‘very senior citizens’, involving people over 80 years, have been given an exemption upto Rs 5 lakh.
Metrolife spoke to a cross-section of people who said they were unhappy with the budget. ‘There’s virtually nothing for the common man’ is the common refrain that ran through and through. Jashoda, a business woman, thinks there isn’t too much to cheer about in the budget. “There’s nothing for women and no change either. The hotel and air fares have been hiked. Nothing to cheer about,” she says.
Scrutinising the budget, Chandrashekhar Shetty, a chartered accountant says, “The
Direct Tax Code bill (DTC) that will be passed in 2012 is said to replace the income tax act hence there are hardly any changes when it comes to direct taxes and it will not affect the common man in any way. The increase in indirect taxes is sure to drill a hole in the pocket. Other service based industries like hospitals and diagnostic centres are also going to be hit.”
Ravi Vijay Dev, a hotelier says, “For a small restaurant like mine where my monthly turnover is small, I will have no option but to increase prices. My customers comprise college-goers who may not be able to afford a price hike. I am against Service Tax,” he says. C S Gopinath, a retired income tax officer is happy that the government has finally decided to pay some heed to the elderly. “The tax exemption for the elderly is a welcome move.
With the number of the elderly steadily increasing the exemption couldn’t have come at a better time,” he says. Young professionals too aren’t happy and they reason that there could have been more provisions favouring the ordinary.
Nitin M, an IT professional says while the budget has benefited the agricultural sector, it has nothing for the common man, “Personal tax exemption limit and Rs 2.5 lakh for senior citizens will reduce the pressure on the aam aadmi for sure. But I see nothing worthwhile,” says Nitin.
Rohit Nagar, product manager with Aris Global points out, “There’s nothing for the private sector. The government employees stand to gain a lot. But the pressure remains on the working middle class,” he sums up.
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