The Union Budget 2017-2018 was not well-planned as it only benefitted the government at the centre and not the common man. Manmohan Singh was a better Finance Minister. He was far better and much more superior to Arun Jaitley. Ever since Jaitley took charge as the Finance Minister he has been thinking only of himself and not the common man. Has he or Prime Minister Narendra Modi stood in long queues outside banks or ATMs to withdraw cash during demonetization period? Have they ever stood outside ration shops in queues to get their monthly quota of kerosene or at a railway booking ticket counter? Or have they ever travelled during peak or non-peak hours in buses or trains? All they are doing is enjoying themselves on the taxpayer’s hard-earned money. We work, pay our taxes and they eat. Is this they call India?
Section 80L should have been brought back and the tax-free limit on interest earned from bank fixed deposits should have been raised to Rs 50,000/- per annum. This would’ve encouraged savings and inflation could also have been brought under control. Also, the pensioners are drawing minimal amount as pension. This should be increased. The retirement age from service of an employee of limited and private limited companies should also be increased from 58 years to 60 years.
(The views expressed by the author in the article are his/her own.)