Indian Budget 2016-17 .. Main Thread ..

[skyisthelimit]

I think it is certainly very important to serve all areas of the population, not just from an economic perspective (although that is very important) but from an ethical perspective. The GoI is just that- the elected representative of the entire nation and thus should serve all sections.

I think this budget was well balanced, it is good for some elements clearly, it may have fallen short of some expectations but there isn't much to be too critical about. It seems that much of the disappointment being expressed is rather similar to all frustrations of the GoI/PM/NDA so far- expectations are simply very high and some (including myself from time to time) aren't happy at the pace/scope of change.

That said, change is happening so one should appreciate that and I think the "UPA 3" title is entirely undeserved because whilst these announcments may not be earth shattering I (and clearly many) do have a strong feeling that at least they will be implemented- under the UPA one almost wrote them off as scams in th emaking or pipe dreams that would never see the light of day. At least with this PM (not neccesarily his party) implementation and constant vigilance is the name of the game and one gets the sense that there will be follow through with much of of what has been announced.

I think many need to remember this is India and not China, India will never be able to move ahead by leaving the majority of its population behind, it's going to be a more staggered process but it should (fingers crossed) pay off in the long term. Focusing on female empowerment, improving the quality of life and improved education of most of India's population is not somthing to be entirely dismissive of.


That said, Modi DOES need to blend tis kind of "grass roots transformation" with "big bang" reforms for the top end of the economy ie LAB and GST, this is essential but I am starting to have many reservations that there is any intention to move foreward on these issues anytime soon.

@PARIKRAMA @MilSpec @nair @ranjeet @skyisthelimit @noksss @Parul @Star Wars @arp2041 @Water Car Engineer @Levina @danish_vij @knight11 @Dandpatta @Stephen Cohen @kbd-raaf @Roybot

We all have good expectations from Budget. But we should not forget that India has a great divide between Rich and Poor and the divide also exists between poor/farmer and middle class.

So budget cannot be made to please anyone side. If we think that, we are fooling ourselves.

In future all our budgets will always be like this balanced. We had the opportunity to have some big bang in last decade, but unfortunately we lost it and today the same parties are blaming saying its a poor budget n blah blah blah because its their job to lie and mislead people.

Our nation is big, we need lot of infra, we need good services, network. Our people have dreams and expectations and for all this we need $$$, it cannot be done by having socialist approach by giving subsidy in one hand and compromise on your life style/infra/services on other. To run a country, its infrastructure everything costs money. We Indians have to change our thinking, approach and mentality. Our previous govts have pampered us too much and hence we sound disappointed.

The budget is very balanced and the more our people come out of poverty and rise towards middle class, we should not expect big tax reliefs and big money in return. Farmers had 2 droughts in succession and it was important to help them. a huge increase in panchayat allocations, irrigation is a good approach.

BJP should make sure, it reaches every village and difference is seen on GROUND to get votes in 2019. Otherwise BJP well might end up like ABV, i want Modiji to get at least one more 5 yr term. His second win will also help him take better n tough decisions since he will have more RS seats by then.

I live in NL, being in highest tax bracket. I pay 52% salary in taxes. I also pay 21% VAT for all services, restaurant, products bought or used. I also pay car tax/month, garbage tax/year, plumbing/drainage tax/year.

There are no lose ends here. Tax always deducted in full every month with salary, no compromise, no benefits towards MF, Pension, savings plans or insurance or etc. Interest rate on savings is less than 1%. If you want to claim anything towards house mortgage/child benefits or so, then you can only after you file tax return at end of year.

We are still a lot lucky that in India, we are not such bad level as in Europe. We should only hope for worse in coming times. Be it BJP or CONgrass, we have to take the BITTER PILL.

BTW, today's news China govt will be giving pink slip to 5-6 million workers. Indian govt should take some good reform steps, this is our chance to get industries from China to India. Hope Modiji is taking a note of it.

regards;

 

[Taygibay]

India has a great divide between Rich and Poor

In numbers in each ensemble sure but in total scope of the spread between the extremes,
America has you beaten without batting an eyelid!

A.K.A. Not specifically an Indian problem, more of a concern for the @jamahir s of the world!

Tay.


P.S.

China govt will be giving pink slip to 5-6 million "workers". Indian govt should take some good reform steps, this is our chance to get industries from China to India.

Nah, it won't empty any industry man, that's just the result of closing the re-education camps, that's all!
And you don't want to import those.

 

[DesiGuy1403]

Except for tax on EPF, the budget is very very good.

People think BIG reforms are the order.
may be they are.
What is more important is getting the rural infra up and getting our poor people into lower middle or middle class.

 

[magudi]

Except for tax on EPF, the budget is very very good.

People think BIG reforms are the order.
may be they are.
What is more important is getting the rural infra up and getting our poor people into lower middle or middle class.

EPF tax prolly be rolled back we have created dedicated twitter squads to swarm Jayant Sinha's mentions until its done

 

[DesiGuy1403]

EPF tax prolly be rolled back we have created dedicated twitter squads to swarm Jayant Sinha's mentions until its done

Absolutely.
It is a horrible mistake by Jaitley. It hurts middle class people the most.