• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager
• BL Club
• Smartbuy
• Books
• Gallery

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

The Budget is welcome but does not measure up to the expectations of the ordinary tax-payer. The enhancement of the basic exemption limit by Rs 15,000 to senior citizens and by Rs 10,000 to others will be welcomed by all. However, the relief offered is too little compared to the hardship that is being faced by them due to unprecedented price rise of essential commodities. The basic exemption limit should have been raised at least by Rs 50,000 as widely expected by all.< /p>

The salaried class is the most honest and regular taxpayers of the country. They can hardly claim any exemptions to reduce their tax liability. Hence, as a reward to them, the “Standard Deduction” should have been re-introduced as it prevailed in the earlier tax regime. The Budget was a huge disappointment to the salaried class.

On the resource raising front, the Finance Minister did not make any specific announcement with regard to disinvestment of specific public sector undertakings. Only a general intent was expressed.

Narayan Paga, Dharawad

More Stories on : Budget | Income Tax

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Copyright © 2009, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line