The Union Budget presented by Finance Minister Pranab Mukherjee has evoked a mixed reaction here.
Lidwin Lobo, social worker: If the slab for income tax exemption has been raised for senior citizens, it would help them save money as they are dependent on their children. Senior citizens such as retired teachers would be benefitted. However, in my experience, the elderly people that I have worked with would not be helped much.
Varun Kannan, call centre employee: Raising the income tax emption up to Rs. 2 lakh is a good move, more people with low incomes will be exempted from paying taxes. However, having hiked the rate of service tax will make them expensive. Besides, the government has left taxes for corporate companies untouched. This year, like other years, the government forgoes revenues from large companies.
Ramesh Devadiga, autorickshaw driver: The Budget does not sound good for people like me. They have raised the prices of gold coins, bars or biscuits while lowering the prices of gold ornaments. This benefits jewellery shops, while people like me will find it harder to buy gold and save for my children's wedding. I already find it difficult to pay my children's school fees.
Shobhit Choudhary, chartered accountant: The Budget does nothing for the common man. People expected that the government would raise the exemption limit up to Rs. 3 lakh, but it had been raised only by Rs. 20,000 (from Rs. 1.8 lakh). Also, majority of salaried people fall within the income group of Rs. 8 lakh. So including more people within the 20 per cent tax bracket does not help their interests.
