Saturday, 28 February 2015

Budget 2015: Middle finger for the middle class! As Always!

My first post after the Modi govt took over the reigns of India.

Middle class has been a constant supporter of the NDA government, be it in 1998,99 or for that matter even in 2004,09 where most of the seats having representation of lower and upper middle class went to BJP. Modi rose to power in Delhi with a developmental agenda and with a slogan 'Sabka Saath, Sabka Vikas' but unfortunately he has not been able to give his 'saath' to Middle Class of this country even in this Budget i.e. #Budget2015. There were very good provisions for the unemployed and the poor class in this budget, I congratulate them for that. But why this ignoramus attitude for the middle class?

Jaitley is known to be amongst Lutyen's elite. I wonder if he will ever be able to understand the middle class. Various schemes for the poor section of the society is very well lauded but what a FM needs to understand is if he doesn't help the middle class which is rapidly growing at this point then he might well be pushing them into the poor class of the society.

Jaitley said in his budget speech that the approx value that a middle-class individual can have an exempt of ~4.40 lakhs indirectly. I went through the fine print and found it totally unacceptable. It is nearly impossible for an individual to take benefit of all the exemptions at once. For e.g when an individual has a housing loan then why would he be setting aside an amount of 1.5 lakh for a pension fund, beats common sense. Also, what is govt expecting from them? saving every penny earned in useless schemes just to save tax? FM is indirectly pushing the neo-middle class into poverty by cornering them. All they want is to save some money that they earn and that too with their choice, By not increasing the tax slab and giving useless indirect tax exemptions, govt is forcing it citizens to take a pill which is not acceptable.

Leave it us on how to save our well-earned money, we are more careful for our wealth than you, Mr. FM. Shed the 'status-quoist' attitude of the babus.

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