Finance Budget of India – 2009

Lot of expectations is attached with the budget no matter what’s the religion, region, caste, creed, sex or other factors of distinguishments. India is country with so much diversity be it states, languages etc. fulfilling the expectations of all at the same time is not only tough rather too difficult. But one can expect that from the Finance minister from a country like India.

Some people are ignorant enough they feel that what difference will the budget will make to their life, may be not directly. May be they are not made to pay high prices to buy the products as they do not have any money but life has become so interconnected. This is shown by the effect of the great success of the story of Slumdog Millionaire making it win so many Oscars.

A beggar is not interested in budget. What return will he get by being interested? A housemaid has also the same feeling. What about those who have huge expectations like a stockbroker, a housewife, a salaries employee, employer, corporate giants and all? We cannot ignore the feelings of those who are disappointed. Lets discuss it with examples. A minor difference is made by increasing the limit by 10,000/-. Many people don’t have income above that level. So they are least bothered. People can save around 1,030/-. Those changes have expanded the category of people who are exempt from paying tax.

It’s not that everything is bad. There is always opportunity no matter even if it is small. The corporate are encouraged by removing Fringe Benefit Tax (FBT). But Marginal Alternative Tax has been increased. Special benefit is given to commodity market by removing commodity transaction tax. A few benefit for rich man too by making LCD, Branded Jewelry and Luxurious cars cheaper than earlier.

Budget is for the people of the country and many things are at stake. The reactions can be seen on news channels, net and other forums. There was sharp decline in stock market too. So reactions are coming up from many quarters. Some businessmen have praised it and few have criticized it also. Altogether it’s the perception that matters. Some feel happy and some sad.