Rajahmundry: When there are mixed Budget reactions from cross-section of people, the Budget was praised by tax consultants and the business community in Rajahmundry, one of the big commercial centers in the State.
Seshagiri Varaprasad, senior member of Charted Accountants Association of India, said self-employed youth would benefit with increase of service tax limit from Rs.4 lakhs to Rs.8 lakhs in new Budget. He said entry-level professionals like charted accountants, self-employed youth, small agents, taxi-cabs and other petty business people earning less than Rs.8 lakhs per annum would be exempted from Service Tax.
He said landless people in rural areas would be benefited with increased premium up to Rs.50,000. Employees would gain from increased medi-claim policy premium from Rs.10,000 to Rs.15,000 and senior citizens up to Rs.20,000.
This would give scope to more social security to claim maximum amount for surgical treatments even in corporate hospitals.
Reduction of import duties on edible oils, iron scrap would give more relief to common man, he added.