Disclaimer :: This is aftermath General Budget 2012-2013.
Past couple of days, this has caught the thunder everywhere. When Dinesh Trivedi increased rail fares after 9 long years in terms of 2/3 paise per km, Mamata came out thundering that it affects "AAM AADHMI" !!! Little does she know what happened in Tamil Nadu couple of months back in terms of milk and electricity and even city bus charges. More than this, this is a regular slogan of Congress, whenever there is an election, that too in development deprived states of UP / Bihar and so on. For people who don't know Hindi, this just translates to "Common man". Soniaji is ruling India for favoring "Aam Aadhmi", as is quoted by Congress.
Since I am not a Govt. "Babu" and a person of public fame, I too think I belong to this category. I was very eager to hear today's budget. Of course this was fueled by some programs yesterday on how this could bloom.
CNN had "Axe the tax effect". They projected too many things and some were useful also, like when the slabs in taxes were introduced, when medical exemptions were given and other stuff. Some made me happy since they were introduced by Chidambaram, one minister whom I really have some respect on.
NDTV @ 9 yesterday, had a big debate :Will Pranab introduce any big ticket reforms and more than that, will Mamata quit if he introduces something. Bullshit it was, that nothing happened. Half an hour viewing was utter crap.
Finally it was 11 AM today and I started online listening in office. Initially I got a doubt, if at all, am I streaming any fish market live-stream? There was so much of hues and cries, and after 5 mins I understood it was all about PF rate slash. Pranab Da started to read the Budget. I was listening and listening and God, it was over!!! No reforms, No big-tickets. Vada pochey !!!
As an Aam aadhmi, I felt really bad on many segments:
1) Medical reimbursements were not increased. Same 15K for long time now.
2)Tax slabs were nothing but crap. For a 5L individual, he will have 2k more in the end of the year. What will you do with Rs166.67/- every month?
3) Medical insurance for parents didn't have increased limits. When the premiums go higher in April, it will be too much to pay from pockets, may be?
4) Infra bond investment limits not altered. Could have been more money for development and also lesser tax burdens. But intelligently, double infra structure bond limits, but no tax benefits !!!
5) No concrete steps to curb inflation menace...Simply not sufficient to tell inflation is higher, but should have explained the Fuel subsidy bill more.
6) Service tax hiked by 2% in addition to existing 10%
7) No Info / reference to Diesel De-Regulation !!!
And Mamata's comment was "Budget is good"...How is it good Mamata Di? every 100 rupees you spend, you are going to pay 112 instead of 110, which was existing. More or less same 2 paise what Dinesh Trivedi asked. Hopefully the difference is only one thing : Dinesh put it in English, people got it right. Pranab put the same in Economics, so no understands easily.
But looking back, I really felt a lot in terms of slabs. Lets see how the world has changed in last 10-12 years...
1) Morning coffee - Milk has almost doubled in last 10 yrs, coffee powder too.
2) Bus charge / Auto charges :Bus has increased 1X to 1.5X, autos are out of proportion. Recently there was a fare hike in Bangalore and drivers are even more demanding. Don't know what they think of people who travel in their vehicle.
3) Food rates have quadrupled everywhere. Lunch, you pay more and eat less, with long standing issues with your health.
4) Rents have doubled / tripled.
5) Govt fees have gone higher for any work. Atleast the brokers make it so.
6) College fees / tuition fess and why not, Pre KG, LKG fees have gone up considerably higher than the fees which I paid for M.Tech 7 years back.
7) Loans are costlier, thanks to Subba rao.
8)Vegetables which are sold at 20 per KG in residential areas are sold at 40/- near tech park residences.
Only good aspect is Salaries have gone up. But to put the truth in writing, there are so many vultures around you to eat your flesh, rather than taking the proper amount to do the work. Their simple strategy - Software people earn a lot, so let me get my share out of them. So, after giving to all of them, literally we are left with nothing. This budget is gone, without giving anything to salaried class.
Taking all these into consideration, Pranab Da, atleast in next budget, GIVE US ALMS !!!
Past couple of days, this has caught the thunder everywhere. When Dinesh Trivedi increased rail fares after 9 long years in terms of 2/3 paise per km, Mamata came out thundering that it affects "AAM AADHMI" !!! Little does she know what happened in Tamil Nadu couple of months back in terms of milk and electricity and even city bus charges. More than this, this is a regular slogan of Congress, whenever there is an election, that too in development deprived states of UP / Bihar and so on. For people who don't know Hindi, this just translates to "Common man". Soniaji is ruling India for favoring "Aam Aadhmi", as is quoted by Congress.
Since I am not a Govt. "Babu" and a person of public fame, I too think I belong to this category. I was very eager to hear today's budget. Of course this was fueled by some programs yesterday on how this could bloom.
CNN had "Axe the tax effect". They projected too many things and some were useful also, like when the slabs in taxes were introduced, when medical exemptions were given and other stuff. Some made me happy since they were introduced by Chidambaram, one minister whom I really have some respect on.
NDTV @ 9 yesterday, had a big debate :Will Pranab introduce any big ticket reforms and more than that, will Mamata quit if he introduces something. Bullshit it was, that nothing happened. Half an hour viewing was utter crap.
Finally it was 11 AM today and I started online listening in office. Initially I got a doubt, if at all, am I streaming any fish market live-stream? There was so much of hues and cries, and after 5 mins I understood it was all about PF rate slash. Pranab Da started to read the Budget. I was listening and listening and God, it was over!!! No reforms, No big-tickets. Vada pochey !!!
As an Aam aadhmi, I felt really bad on many segments:
1) Medical reimbursements were not increased. Same 15K for long time now.
2)Tax slabs were nothing but crap. For a 5L individual, he will have 2k more in the end of the year. What will you do with Rs166.67/- every month?
3) Medical insurance for parents didn't have increased limits. When the premiums go higher in April, it will be too much to pay from pockets, may be?
4) Infra bond investment limits not altered. Could have been more money for development and also lesser tax burdens. But intelligently, double infra structure bond limits, but no tax benefits !!!
5) No concrete steps to curb inflation menace...Simply not sufficient to tell inflation is higher, but should have explained the Fuel subsidy bill more.
6) Service tax hiked by 2% in addition to existing 10%
7) No Info / reference to Diesel De-Regulation !!!
And Mamata's comment was "Budget is good"...How is it good Mamata Di? every 100 rupees you spend, you are going to pay 112 instead of 110, which was existing. More or less same 2 paise what Dinesh Trivedi asked. Hopefully the difference is only one thing : Dinesh put it in English, people got it right. Pranab put the same in Economics, so no understands easily.
But looking back, I really felt a lot in terms of slabs. Lets see how the world has changed in last 10-12 years...
1) Morning coffee - Milk has almost doubled in last 10 yrs, coffee powder too.
2) Bus charge / Auto charges :Bus has increased 1X to 1.5X, autos are out of proportion. Recently there was a fare hike in Bangalore and drivers are even more demanding. Don't know what they think of people who travel in their vehicle.
3) Food rates have quadrupled everywhere. Lunch, you pay more and eat less, with long standing issues with your health.
4) Rents have doubled / tripled.
5) Govt fees have gone higher for any work. Atleast the brokers make it so.
6) College fees / tuition fess and why not, Pre KG, LKG fees have gone up considerably higher than the fees which I paid for M.Tech 7 years back.
7) Loans are costlier, thanks to Subba rao.
8)Vegetables which are sold at 20 per KG in residential areas are sold at 40/- near tech park residences.
Only good aspect is Salaries have gone up. But to put the truth in writing, there are so many vultures around you to eat your flesh, rather than taking the proper amount to do the work. Their simple strategy - Software people earn a lot, so let me get my share out of them. So, after giving to all of them, literally we are left with nothing. This budget is gone, without giving anything to salaried class.
Taking all these into consideration, Pranab Da, atleast in next budget, GIVE US ALMS !!!
