E-Paper
Nothing tangible, only pompous announcements in Union budget, say Pune residents
The finance minister, on Saturday, announced new slabs and rates for the income tax with the rider that taxpayers can avail this if they forego certain exemptions.
Even with finance minister Nirmala Sitharaman offering relief to the salaried class, particulary those belonging to the middle class, residents in Pune said that the relief was not adequate. The finance minister, on Saturday, announced new slabs and rates for the income tax with the rider that taxpayers can avail this if they forego certain exemptions.
Calling the budget high on pomposity and low on tangibles, Shalini Thakur, 22, a homemaker said that the budget had no mention of essential commodities. “ Every year the budget is announced and every government makes great promises, but in the end during inflation or during seasonal changes, the prices of agricultural products increase. The government should do something to ensure that the prices of essential commodities like grocery and vegetables remain stable. Also, the health sector needs to be paid attention to with new viruses and diseases coming up. The education expenses also need to be managed as this is a basic need of every household,” she said.
In her budget speech, Sitharaman announced that under the new tax regime, the 30% slab, which was stuck for nearly a decade at Rs10 lakh, has finally moved to Rs 15 lakh – an increase of a whopping 50 per cent. Also, income up to Rs 5 lakh is now exempted from tax, and lower tax rates apply on income between Rs 5 lakh and 15 lakh if tax payers don’t claim deductions.
Rohit Awate, 38, a marketing officer in a private company, said, “The new tax slab needs to be understood as the finance minister said that it is optional. I do not completely understand the technicality of it, but what I read and understood is that the next tax slab is in fact more burdening for the salaried class as the 80C deduction has been waived off. If that is the case then it is not great news for the salaried class especially when the inflation rate has gone up.”
Gnyanesh Kapse, 62 , a retired school teacher said, “The budget had no mention of the retired class though Rs 9,000 crore was allocated for the welfare of senior citizens. The government should at least focus on the health of the elderly and their insurance cover. In rural areas, the elderly do not have any financial independence and the government should think about it.”
