Pranab Mukherjee could not have presented a better budget with two major coalition partners TMC and DMK putting dangerous postures threatening the very existence of the government, according to noted Chartered Accountant G.M. Rama Rao.
“He simply balanced the figures, meddling here and there and certainly made the life of common man and senior citizens miserable by increasing service tax rates,” Mr. Rama Rao said.
“Pranab should have boldly removed the service tax on phones, travel especially on sleeper class and three-tier AC fares and bus fares, keeping it on car rentals. There is no valid reason to remove service tax on cinema and luxury services. Overall, the best done out of the worst,” he commented.
NTPC Executive Association's general secretary Y. Suresh Babu said that Government and public sector employees were somewhat happy due to the increase in cushions levels for income tax.
There was a chance for decrease in prices of daily consumables due to decrease in inflation, he said.