Discrimination between men and women

 

Sir,

 

                  The Union budget ,2009 is a politically pragmatic but  

financially weak budget that does not care for the escalating fiscal

deterioration with an estimated fiscal deficit of 6.8 % which will

cremate the Fiscal Responsibility and Budget management Act,2003

 

                  The Finance Minister continues to discriminate

between men and women with regard to Income-Tax exemption

limit.In fact, it is men who deserve a higher income- tax exemption

limit because most of the men have house-wives as their whereas

most of the income-tax-paying women have earning husbands.

The F.M. should haveraised the exemption limit to Rs.200,000 across

the board.

 

               Just Rs.10,000 increase in income-tax exemption limit

is mere peanuts. Tax on Rs. 10,000 is just Rs.1000.This Rs.1000

does not compensate for the increase in the cost of living and

this is no relief  at all for the salaried classes.

 

               Defence is no substitute for diplomacy. An extra

Rs.27,103 crore on defence means that, that much less for

other sectors for development.

 

             What is the use of LCD TVs becoming cheaper for aam

admi ?.They would have been happy if ordinary TVs were cheaper.

 

            Witdrawal of FBT will not help common man or lower

middle class. Employers can afford FBT and the FM is losing revenue

for nothing.Employees have to pay tax on perks and that is an

avoidable burden on the tax-payers.

 

            Withdrawal of 10 % surcharge will benefit only the higher

income groups or the Shining India.In stead, if the F.M. had withdrawn

the 3 % education cess, it would have benefited all tax-payers.After

all, there is no guarantee that the cess money actually goes into

education.

 

            Income is income in whatever form or from whatever source.

One cannot but blame the FM for failing to tax the agricultural

sector, as it is a big chunk of our economy. If the FM does not

raise resources and instead take recourse to higher brrowings,then

we will jeopardise our prospects for growth, reignite the flames of

inflation, sow the seeds of another balance of payments crisis and

place an unfair burden on the next generation.

 

Yours truly

 

S.  RAGHUNATHA  PRABHU

                   M. Com., C.A.I.I.B.

STATE BANK OF TRAVANCORE

PUNNAPRA-688004 ALAPPUZHA

 

 

S. Raghunatha Prabhu

Amaraavathy Cottage

Thiruvampady

Alappuzha-688002