While there were mixed reactions to the Thursday’s Union Budget proposals, Joy Ganguly, a senior manager with a private company, was among those who welcomed it.
Mr. Ganguly felt that there were definite positives in the budget.
His family was pleased with the personal income tax exemption limit raised from Rs. 2 lakh to Rs. 2.5 lakh and also welcomed the hike in investment limit under 80C of the Income Tax Act from Rs. 1 lakh to Rs. 1.5 lakh. “This is a good move which has long been overdue. Most people are able to save up to Rs. 1 lakh and raising the limit to Rs. 1.5 lakh will only help further. Though I personally feel it could have been increased further, it is a good first step,” said his wife, Mandira Ganguly, an I-T Department employee. They also welcomed the custom duty cuts on footwear, soaps and LED panels and gave thumbs up to the excise duty hike on cigarettes. “This hike could perhaps discourage people from consuming tobacco,” said Mr. Ganguly.
