And for a Friday after the Budget, some thoughts…. though Budgets these days are no longer as exciting as in the past. Its predictable, no major shocks and that’s the way it should be.
Salaried middle class taxpayers and senior citizens, well, could have been given better. Gross Income of 50 Lakhs plus, surcharge of10{aff5a224634bf574f692c8c7d068a0713fecca4ea38a30d3005107227dbb12e7}, service tax to be deducted from rent paid etc. etc., simply adds up to paperwork. It’s not in the theme of More Governance, less Government.
Senior Citizens, all those who are 60 plus must take immediate steps. Ensure you have the Aadhar card, make all bank accounts joint with spouse on ‘either or survivor’ basis. Ensure nominees are clearly mentioned and acknowledged and close all unwanted bank accounts, particularly in different cities. You never know who uses these defunct accounts and for what purposes….. you will be liable!!
Budget has one good provision for Senior Citizens. 8{aff5a224634bf574f692c8c7d068a0713fecca4ea38a30d3005107227dbb12e7} Assured Return for 10 years for an Investment capped at 7.5 Lakhs. Unfortunately only one of the partners can avail, since its taxable, ensure the lower Tax bracket partner avails thru LIC.
Low Income Housing, given Infrastructure status. This is great, wish the genuine big names come into building affordable housing for the lower middle class.
Each one of us must help our personal staff, drivers, maids, other domestic and office help get their 600 sq feet homes. They deserve it, will give them dignity and a purpose in life.
Farmers in rainfed areas exposed to high risks are to be covered by Crop insurance. Lots of extension work and education is needed, unlike urban schemes. The poor farmers get exploited by middle men and corrupt officials.
Wish college students take time off and go to the villages to undertake this extension. Let’s build India the Ethical way…. the SEEGOS way.