A good budget
- Reduces taxes
- Reduces deficit by cutting subsidies
- Reduces bureaucracy, rules and regulations
- Gives more freedom to people.
So here are the highlights of budget 2017
- No cash transaction above Rs 3 lakhs. Bad because it reduces freedom. People should decide the mode of payment, not government rules.
- Mahila Shakti Kendra for welfare of women to allocated Rs 500 crores. 60 days interest waiver for farmers. MGNREGRA allocated Rs 48,000 crores. Ugly because government subsidies are mostly wasted.
- Tax rate for people earning between 2.5 to 5 lakh brought down from 10% to 5%. Good.
- Foreign investment board abolished. PSEs like IRCTC to be listed. Good. Lesser the bureaucracy, the better.
- Cash donation to political parties curbed at Rs 2,000. Good.
- Higher taxes for rich. Bad.
Overall the budget doesn't do anything significant. So the Indian economic conditions will remain mostly the same i.e.
- Large scale corruption
- High inflation
- Lack of skills to compete globally
- Rupee will continue to fall in value against real money i.e. gold/silver.
No comments:
Post a Comment