Mango People; Banana Budget
I don’t care if you saw economists on Times Now rate The Union Budget as 8/10.
No change in the income tax on any of the tax-slabs but an increase in Service Tax + Education CESS and a tax burden of 2% on the super-rich (Yes they removed wealth tax, nobody cares because nobody bothered paying that. No, nothing is yet extremely clear about GST either, that happens next year.) Higher indirect taxes but no direct tax benefits and they ask why is there black money in this country? Policies and stupid decisions is the reason why. Oh also, good going on the fact that I don’t need to show my PAN card to purchase anything worth ₹ 1,00,000 and saying you want to curb black money at the same time. GOOD GOING.
You’re going to spend more money on commercial vehicles, aerated drinks and if you consume tobacco in any way, shape or form plus obviously any kind of service ever. YES UBER GETS MORE EXPENSIVE WHERE IS THE OUTRAGE?!
Corporate tax to be lowered from 30% to 25% but that would happen over the span of the next 4 years. So yes, continue crying as you were.
Nothing gets cheaper, seriously go look at it. Nothing you give a shit about got cheaper. Not phones, not drinks, not food, not travelling. Nothing. Also, no cuts in import duty of things you care about and no subsidies to export stuff you care about.
Nothing related to B2B businesses, nothing related to consumer-facing industries like real-estate and the retail sector either. Nothing related to FDI or for privatisation of sick PSU’s either. Wut.
Hey chief, bro: “India is the fast growing major economy in the world” Lol, sure it is when you use non-standardised methods to calculate how your economy is doing. :)
Handouts and entitlements were being given out like anything. Essentially reminding me that we live in a socialist country. Instead of helping the poor to be rich, they are making sure the rich become poor so they can be a truly socialist country. :)
A recent article said that the Income Tax department won’t be refunding ₹ people this year because they want to balance the numbers this year to make sure investors are attracted to India.
Restoration of old heritage sites? What about Bombay roads, bro? Collecting 60+% tax here and still hating? What scene, bro?
Make In India was a bad concept but had a great branding/marketing thing going along with support from those big guys wearing suits (or so it seemed), trying to convert a service-sector country into a manufacturing hub is not easy and it shouldn’t even be a priority and it looks like the government agrees, there was nothing major discussed about this at the budget. Yes, they mentioned the word ‘startups’ and yes, they’re allocating ₹1000 crores to it but they are inclined towards tech startups which is kinda confusing because tech startups are usually services and not into manufacturing but they were saying before that everybody should Make in India. Am I the only one confused by this?
“Yoga to be included in charitable organisations which will mean a tax exemption” ARE YOU FUCKING KIDDING ME FUCK THIS SHIT. FUCK YOU.
I like how the finance minister started the budget by blaming the previous government for everything wrong in this country but didn’t change any of the financial policies or resolutions made by them. Atleast, with the UPA government, you would get to see tax benefits year after year and foreign investments happening. This was a cold hearted budget, possibly politically motivated and extremely extremely socialist in nature.