Volume 1, Issue 18
The most appealing part in the budget is that there are 8 crore tax payers and after the budget 99 lakh tax payers are exempted from tax paying as their income is below Rs. 3 lakhs. This means that Rs. 5000 crore of Rs tax income of the Govt. is gone. Next there are 15 lakh tax payers in 30% slab. Thus 5000 crore tax rebate is given in this regard also.
Govt has increased the buying capacity of a common man by rs. 5000 a year
or in other word who were not showing their income can now show Rs 50000 extra by not paying anything. There loan taking capacity will increase. Due to digitisation the people are going to earn the saving interest too. Who were storing the money in almirah will now open FDs in bank and not only benefit themselves by earning some interest but also they will benefit the country by providing money to be used in development. Over all the budget has given something from nothing. This budget and digitisation of transaction will motivate many people to file IT returns (who were not filing till yet) and put them in a line of tax payers, thus helping the nation in many ways.
The best part of this year’s budget is the limit of cash donation to political parties. The change in tax slab is also appreciated. Cash transaction limit upto Rs 3 lakh is also part of good Budget.
Budget 2017 appealed me as
1. Income tax reduced to 5 percent for 2.5 lac to 5 lac.
2. Health card for senior citizens linked with aadhar card.
3.And above all, Railway budget is a part of union budget.
Budget 2017-2018, 40% of cropped area will receive coverage under Fasal Bima Yojana.This will help farmers to reduces the risk factor. The Government said that the percentage will rise upto 50% by next fiscal year…