Budget disappoints employees, senior citizens welcome it

February 28, 2015 05:52 pm | Updated November 17, 2021 03:35 am IST - VIJAYAWADA:

The Union Budget 2015 presented by Union Finance Minister Arun Jaitley evoked mixed reactions from employees and senior citizens. While, employees call the budget a bit disappointing, senior citizens welcome it.

Many employees said that the budget failed to meet their expectations, especially in terms of savings. Most employees hoped the Government to increase the tax exemption but all their hopes were dashed.

“Last year, the tax exemption was increased to Rs.2.5 lakh from Rs.2 lakh providing a tax relief of Rs.50, 000. Likewise, there were expectations that the tax exemption would be increased to Rs.3 lakh or Rs.3.5 lakh,” observes P. Mallikarjun Rao, a private employee.

There is nothing much for employees to cheer in this budget. No major perks for savings or tax exemptions. The government had reduced the tax for corporates but there are no encouraging things for middle class, feels P. Panduranga Varaprasada Rao, general secretary of Andhra Pradesh Teachers Federation.

A section of employees welcomed the health insurance premium deduction hiked from Rs.15,000 to Rs.25,000 and Rs.30,000 for senior citizens. Though it would help in major savings for individuals, nevertheless something is better than nothing, he adds.

Meanwhile, the senior citizens are happy with the budget. It is good that the government has announced pensions for people aged 60 and above years from the low income groups. “Though clear guidelines are yet to be announced, creating a welfare fund for senior citizens is a welcome move. On the whole, it is ok,” says M.Venkateswara Rao, secretary of Krishna District Senior Citizens Welfare Association.

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