Gaurav Sarkar, Pallavi Smart, Shailesh Bhatia smdmail@ mid- day. com WHILE the Union budget appears to have SOPs for citizens, not everyone is impressed.
There is confusion over the income tax laddoo being offered, but which is not as simple or sweet as it appears. And, senior citizens say the allocation of R 9,000crore for welfare of senior citizens is a vague idea.
mid- day spoke to citizens across age and income groups for their taken on Union Budget 2020.
Hereu2019s what they had to say: Vineet Kanabar, 32, Marketing professional There will be more confusion about filing taxes now.
I already find it hard, and the new no- exemption options only make it more complex. I was expecting some news on the employment front, but it seems like the FM forgot.
It may be too early to judge if this is a more pro- poor budget.
One thing is for sure: Itu2019s going to be a tough year financially.
Arun Taula, 47 Financial planner With categorical statements that Aadhaar- based verification of taxpayers is being introduced to weed out dummy or non- existent units, the writing on the wall is clear that those who were conducting their businesses via unscrupulous methods now need to mend their ways. There is actually nothing special in this budget and the initial response from the market has not been favourable. It is likely that the LIC public offering will boost markets in future and audit limit of businesses increased from R 1 crore to R 5 crore will help small establishments grow.
Arjun Taula, 17 SYJC student The current generation needs state- of- the- art infrastructure, super highways, smart cities, bullet trains and much, much more.
When I complete my studies, I want to look at options for becoming an entrepreneur right here.
This and future budgets will have to lay extra emphasis on youth and their needs. I know a few big projects in this direction have already been initiated and would like to see them completed as per schedule.
Romila Motwani, 76 Founder director, Schnell Hans Beauty and Salone As there are fewer opportunities for earning for seniors, the government can start platforms where senior citizens can voluntarily come forward to offer their expertise in certain sectors and earn through it. There should be bonds through which a senior citizen can keep money in banks and get high interest and this interest should be exempted from tax.
Anjali Taula, 9 Std IV student When can I change the channel? I want to watch POGO. Jyothi Taula, 42 Financal advisor The provision of zero tax for people earning less than R 5 lakh is an advantage for the common man, which will see a surge in their purchasing power, and also give them the liberty to invest surplus funds. News that PAN card can be generated instantly online is a blessing. The R 28,600 crore earmarked for women oriented welfare schemes will enhance empowerment.
Shyam Motwani, 82 Director of RBCS group of Institutions There is budgetary allocation for seniors but there is no clarity on what it will be used for. Senior citizens must be allowed subsidy on basic necessities and in health care, where hospitals offer discounts to seniors.
Income slabs can be decided in order to avail this.
PIC/ ASHISH RAJE
