What do you expect from Budget 2011?

By Reuters Staff
February 23, 2011

Finance Minister Pranab Mukherjee will present the annual budget in parliament on February 28.

The government is already facing criticism over high inflation. What are your expectations from the finance minister?

Should personal income tax slabs be relaxed further? What should be done to control soaring food prices?

Reuters journalist Urvashi Sibal gets us some expectations from people in the capital.

(In order of appearance: Ankit Jain, Business professional; K K Singh, Retired business professional; Dr Aruna Mohan, Associate professor, Delhi University; Kanishk Bhalla, Chartered Accountant)

Comments

I think tax slabs should be relaxed further, and they should be same for men and women. No tax should be there on income up to rupees 200,000.

Posted by aditya.kalra | Report as abusive
 

Yup, I agree. Keeping in mind inflation, they shouldn’t have tax on incomes up to 500,000 rupees BUT those in higher tax slabs should be asked to pay more.

Posted by ToeKnee | Report as abusive
 

Moment of truth has arrived.We need to change our image by taking bold and innovative steps like:
1.Rationalising the overall custom duties,excise,tax and octorio system.This applies basically to the prime movers of growth-energy,transportation,imports of essential commodites,infrastructure & necessities.
2.Subsidies do hurt the national wealth and,need to be removed,so as to have a level playing field.
3.In a growth economy,the balance of GDP increases,with inflation to be maintained.
4.Black money needs to be “harvested”,by bringing it back into the economy.
5.The Finance Minister needs to be the Deputy Prime Minister,so that he has the authority and accountability to ensure that scams are minimised and we do not remain a Banana Republic,in the eyes of the world!

Above would ensure a free economy and,give a positive investment-oriented signal to all global players,looking at India to invest.

God help us.

Posted by VKirpal | Report as abusive
 

STCG should be reduced to 10%
Also, FM should make clear at the earliest that ELSS funds would be part of 80C when DTC becomes applicable from 2012.

Posted by aditya.kalra | Report as abusive
 

we are all scarred with the govt on the 2g/3g scam , well please look at the common man and dont kill us with more taxes , increase more job and work on to reduce the corruption

Posted by ignatiuslegend | Report as abusive
 

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