High praise for tax sops,safety plans for women

A CA family dissects the Union Budget

July 11, 2014 12:12 pm | Updated 12:12 pm IST - THIRUVANANTHAPURAM:

R. Sridhar, his daughter Vijayasri, relative Jaysindhu (right), R. Srinivasanand his wife Sripriya (left), all chartered accountants, follow the Union Finance Minister’s budget presentation on Thursday. Photo: S. Gopakumar

R. Sridhar, his daughter Vijayasri, relative Jaysindhu (right), R. Srinivasanand his wife Sripriya (left), all chartered accountants, follow the Union Finance Minister’s budget presentation on Thursday. Photo: S. Gopakumar

The family of chartered accountants sat in their office at East Fort on Thursday, getting live updates of the Union Budget. There was a heightened sense of happiness as Finance Minister Arun Jaitley announced the setting up of an Indian Institute of Technology in the State and provided concessions on the income tax front.

The women of the group found the decision to set aside Rs.150 crore for the safety of women in cities and introduction of gender-related subjects in school curriculum encouraging.

R. Sridhar, a long-time resident of the city and senior chartered accountant, said the decision to provide concessions to small and marginal tax payers by raising the threshold limit from Rs.2 lakh to Rs.2.5 lakh and investment under 80C by Rs.50,000 to Rs.1.5 lakh would help the salaried class have more liquid cash to spend and invest.

The concessions provided to small and marginal tax payers would help them save a minimum of Rs.5,000 annually. Similarly, the decision to raise income tax exemption limit to Rs.3 lakh for senior citizens was also a welcome step, he said.

His brother, R. Srinivasan, said that the decision to raise the FDI cap in Defence and insurance sectors would bring in more investment and spur growth, which was good for an ailing economy. The setting up of a Price Stabilisation Fund with a corpus of Rs.500 crore would benefit the common man since they would not be burdened by the sky-high prices of essential commodities, he said.

There was disappointment when the State did not figure on the list of AIIMS allottees, but it gave way to joy when the Minister sanctioned an Indian Institute of Technology for the State.

“It was disappointing not to get AIIMS but at least it is compensated with the sanctioning of an IIT. I hope that Kerala will be given priority while allotting government medical colleges as well as in the next allotment of AIIMS, since the percentage of students appearing for, and getting selected in, medical/AIIMS entrance is high when compared to other States,” said I. Jaysindhu, another family member and chartered accountant.

Vijayasri, daughter of Sridhar, expressed hope that the government would earnestly implement the schemes introduced for women in the budget. “Women safety is a growing concern across India,’” said R. Sripriya, expressing hope that the budgetary provision of Rs.150 crore would be utilised properly. “The decision to include gender sensitisation as a chapter in curriculum is welcome,” Sripriya, wife of R. Srinivasan and a chartered accountant.

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