The Great Debate (India)
What do you expect from Budget 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)
What would you have done differently if you were FM?
The government raised personal income tax slabs for 2010/11, which could result in a net tax saving of 20,000 to 50,000 rupees for those earnings above 300,000 rupees.
Fuel prices — Petrol (by 2.71 rupees) per litre and diesel ( 2.55 rupees a litre) — would be raised from Friday midnight.Are you happy with Budget 2010/11?
Reuters India asks its readers to don the finance minister’s cap and tell us what they would have done differently.
If, i would be the finance minister, i could have removed tax from individuals who have income less than 3 lacks. The rates would be remain 20% for all others but every body should file the tax return so we will be knowing who is coming under taxable income and who should get refun
What would you do if you were the FM?
The task before the finance minister is tricky as the Congress-led government gears up to present the annual budget for 2009-10 on July 6.
Reuters India asks its readers to don the FM’s cap and tell us what shape they would give to the budget to keep a country of over 1 billion people happy.
Extremly poor budgetIt lacks directionsWe need to make Income tax compulsory for all not put tax limits. Let it be small amount let it be even 5% but everybody should pay tax otherwise they would never respect infrastructure and act irresponsibly.When whole world looks for non-agricultural way of developing we still relay on agriculture. Are we going back or forwards? We need food but when things can be done by 10% of population how can you engage a major population in it? That is called inefficiencyThere is no clear cut direction for INDIA. India has lost to china and will loose it\’s power due to direction-less budgetTo give food to needy is a temporary solution but to make him capable to earn is real solutionUnfortunately this government has nothing to offer except sellouts and charity which is again inefficient way of managingOverall the stock market is too much up and this budget speaks that this government lacks clarity,will,management and economics to take INDIA forward or make it world leaderWith this budget there is no over-reaction this market is extremly over priced. India is flying in dreams and yet needs to test the level ground of actionsUnfortunately with this budget India has lost it\’s credibility once again. It is unstable. It is reflection of mindset of chaos and lazinessEnd resultThe real industry the real finance the real farm sector, the real estate is extremly overpriceand in 1 year or 7 years from now that is sooner or later INDIA will face the same credit-crunch and declining estate prices and will pay price for lack of visionary,greed and mismanagementBottomline the correct land value in INDIA is 50% of what it is nowThe correct market is at least 60% down meaning this market is 60% overpricedThese may seem overstatements or pessimistic views but this is realityThose westeners who are investing in INDIA are just playing games and they will withdraw sooner or laterWe still work on populist not econmoist fundamentals which means we want everything without doing anything and that will be the cause of our downfall
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The Wall
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