No cheer for the common man

No cheer for the common man

CAPITAL LOSS: UNIMPRESSIVE INCOME TAX EXEMPTION LIMIT BOTHERS DELHIITES

While the revision in income tax slab has brought some relief for the common man, Delhiites have given a thumbs down to the Union budget.

People said the ‘meagre’ increase in the exemption limit of income tax would be nullified due to the increase in service tax and prices of several other items.

People said the government is least concerned about the common man.

“The government is unaware of the real problems of the people as the decisions are taken in air-conditioned rooms of North and South block. Otherwise, the exemption limit should have been increased at least to Rs 3 lakh, which would have brought some relief to the tax payers,” said Deepak Mathur, an insurance agent.    

Sunil Jha, an auto-rickshaw driver, expressed displeasure over the government's failure to curb price rise.

 “It’s difficult to run our family when prices of everything are going up. The price of CNG was Rs 21 when the auto fares were hiked the last time. Now, the CNG rate has shot up to Rs 35, but the fares remain same,” said Sunil.

Meanwhile, some were of the view that the budgetary proposals would derail their investment plans. Parth, an engineer in the FMCG sector, who has been working for three years, had plans to invest his savings in the future as he is getting married this summer.

“ I was hopeful that the exemption limit would be higher because of the media reports doing the rounds. But the budget has left me disappointed,” he said.

Incresed burden on people

With the Finance Minister announcing hike in service tax from 10 to 12 per cent, the burden on the common man is set to increase. Those who run businesses in the service sector said they have no option other than passing on the burden to the consumer.

“While the IT-exemption limit is a disappointment for all of us, in case of service tax, we have to follow the rules. The clients will have to bear the brunt of this,” said Mukul, a tour and travel agent.  

Young professionals echoed that the increase in tax is justified only if the government provides adequate facilites and keeps corruption at bay.

“The increase in spending on some of the social sector schemes in this year’s budget can only be justified if the money is utilised properly. Rampant corruption and pilferage is a stark reality. The NRHM in Uttar Pradesh is a case in point,” said Vijay Malik, an IT professional who holds twin degrees in engineering and management. He is seriously considering moving abroad.

No brighter side

* Thumbs down: Revision in income tax slab has brought some relief for the common man, Delhiites have given a thumbs down to the Union budget

* More burden: With the Finance Minister announcing hike in service tax from 10 to 12 per cent, the burden on the common man is set to increase 

* Passing the buck: Those who run businesses in the service sector said they have no option other than passing on the burden to the consumer

* Check corruption: Young professionals echoed that the increase in tax is justified only if the government provides adequate facilites and keeps corruption at bay

* Cancelled out: People say the ‘meagre’ increase in the exemption limit of income tax would be nullified due to the increase in service tax and prices of several other items

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