Friday, March 1, 2013

Indian Budget 2013 analysis

Please read this analysis from an amateur blogger's perspective who has little knowledge on Budget system, but knows well how budget going to affect his lifestyle.
On the budget day I read on many of the newspaper sites that the budget is for poor, women and youth. Some analysed the budget as a balanced one.
Some said it has no potential to tackle fiscal deficit and some say it was the govt's last budget so, nothing hopeful had been expected.
What I analysed is that Govt. had no other option but to present a budget which can help him garner some votes from the weaker sections be it women or poors. If anyone analyzes the other budgets of this govt. they will find there is a huge difference between them and the current budget. Earlier govt used to table the budget which used to have solutions tackling fiscal deficits, debts and GDP growth. But this time govt deliberately had to forward a budget which lacks almost all the previous themes and adapted a newer version to attract the voters.
Govt tried wooing voters by giving models only, like women bank. I don't understand what this women bank mean. Are women now not allowed to open bank accounts in the existing banks?
Taxes on high end mobile phones, gadgets and AC restaurants, Cigarrettes. These are the sectors or products where no one can blame govt for imposing any tax they like. But what these high tax payers or super rich have done wrong, why they are taxed so heavily. These super rich only give you employment and they only give you more than 80% of the total tax the govt receive.
Funds to SC, ST, Other minority. Why?
who will pay the debt created by this govt?
we the tax payers are going to nothing and all those who escape taxes going to be benefitted? I don't understand any logic behind this.
We also lose morals govt, please don't ignore us, else we too need to devise ways to escape taxes.

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