Its financial year end and the Budget bandwagon is rolling full steam. Every newspaper and magazine keeps publishing reports and reports and reports and reports! Some great, some not so great, but, one thing is common; most of the terminology is not common for the common man. So let’s try to understand some of the… Read More »
The Union Finance Minister Mr. Pranab Mukherjee presented the Union Budget 2012-13 and has given a marginal benefit on the much awaited income tax slabs for common people. The biggest beneficiaries would be people having income between 800,001 to 999,999 per annum. They move from the 30% slab to the 20% slab! Personal Income… Read More »
Budget in India always tries to encourage the women by giving tax exemptions and other benefits. The tax exemption limits have generally been higher than that for men or senior citizens. The allocations for women welfare and child healthcare has been comparable with other developing countries but there has always been room for more innovative… Read More »
What Pranab has in store for Small and Medium Enterprises – The Young ones of Indian Industry SMEs (Small and Medium Enterprises) and the Entrepreneurs had many reasons to smile after Mr. FM finished his budget speech. According to experts, these sectors are highly vulnerable to the unexpected changes in the market conditions and need… Read More »
I Must Be Cruel Only To Be Kind – Pranab The finance minister quoted Shakespeare’s Hamlet before starting the second part of his Budget speech. A long monotonous speech had a humorous pause albeit a very small one. To quote him “The life of a Finance Minister is not easy. Various players, including policy makers,… Read More »
The finance minister Mr. Pranab Mukherjee is facing one of the toughest challenges of his long and distinguished career as the man at the helm of financial planning for the nation. This year’s Union Budget comes a time when the ruling coalition faces multiple challenges from almost every quarter and the frustration of the masses… Read More »
New Tax Slabs The Finance minister has increased the tax slabs and given relief to the common man. Especially for the people in the below 10 lakh slab. Greater news for those earning between 8 Lakh and 10 lakh, they move from a slab of 30% to a new slab of 20%. The minimum tax… Read More »
The FM has outlined 5 major objectives which have been kept in mind to prepare the budget 2012-13 1. To focus on the domestic demand 2. To assist the process of getting more private investment in the economy 3. Remove Supply side bottlenecks especially in four sectors – Agriculture, Infrastructure, Railways and Civil Aviation 4.… Read More »
The first thing an average citizen of India thinks about before any Government Budget is about his/her personal income tax. Discussions during and immediately following the Budget presentation by the Finance Minister is also about income tax slabs and the tax savings instruments. But is the budget presentation only about income tax? Income Tax As… Read More »
The Reserve Bank of India has left the key rates unchanged. Repo rate remains unchanged at 8.75% in the policy review on 15th March 2012. Probably, RBI would have sensed the UPA government’s inability to present a bold budget to bring in economic reform, and therefore, it has suspended the further relaxation in policy rates.… Read More »