Budget 2011

What I expected came!

IT exemption limit raised to 1.8 lakh from 1.6 lakh

Here is the more news about the Budget 2011.

http://www.mathrubhumi.com/english/story.php?id=105311

Apart from raising general limit by Rs. 20,000/-, a new category of very senior citizens aged 80 years and above has been created. Besides, age of senior citizens has been reduced to 60 years from 65 presently for tax purpose. Very senior citizens will be exempt upto Rs. five lakh.

For more details visit:

http://economictimes.indiatimes.com/news/economy/policy/union-budget-2011-pranab-unveils-budget-inflation-fiscal-deficit-eyed/articleshow/7592699.cms

http://www.hindustantimes.com/India-Budget-2011/IndiaBudget2011-TopStories/Pranab-s-budget-No-new-taxes-I-T-exemption-limit-raised-to-1-80-lakh/SP-Article1-667767.aspx

http://www.dnaindia.com/money/report_union-budget-2011-pranab-mukherjee-s-proposals_1513562

http://www.moneycontrol.com/news/economy/union-budget-2011-ringsno-cheer-for-telecom-sector_525900.html

The Industry has generally welcomed the budget as a balancing act. Stock market has responded positively. The Senior citizens are happy as the eligibility age has been reduced to 60 years and a new class of very senior citizens aged 80 years and above has been made. Salaried class will be spared the filing of returns. Women are disappointed as there are now at par with men.

The small scale industry hoped that the current exemption limit of Rs. 150 lakhs under central excise would be raised but the are disappointed. Also, the service tax will make visit to hotels, air travel and even medical treatment costlier.

The reaction from politicians is on partisan lines as expected. Here are some links for detailed news:

http://online.wsj.com/article/SB10001424052748704288304576171603657164940.html

http://www.indianexpress.com/news/India-Inc-can-t-ask-for-more/756163/

http://in.specials.yahoo.com/budget2011/news-detail/post/news/267/india-inc-nris-react-to-pranabs-budget.html

http://in.specials.yahoo.com/budget2011/news-detail/post/news/256/bouquets-and-brickbats-for-pranabs-budget.html

http://in.specials.yahoo.com/budget2011/news-detail/post/news/202/budget-2011-tax-relief-for-individuals-inflation-a-concern.html

http://in.specials.yahoo.com/budget2011/news-detail/post/news/228/eco-friendly-hybrid-vehicles-to-be-cheaper.html

http://in.specials.yahoo.com/budget2011/news-detail/post/news/255/mobile-phones-to-cost-more-from-april-1.html

The income tax limit of ladies are kept in old style.It is a draw back.

On the whole it's good budget prepared and presented under very difficult conditions and the Finance Minister the seasoned politician that he is,has drawn on his vast experience to make the is budget appear reasonably acceptable!

The income tax limit of ladies are kept in old style.It is a draw back.

I believe that there should be same tax for same income irrespective of gender and age. There is no justification in introducing separate slabs for women and senior citizens.

As regards senior citizens, they do not need financial support in shape of tax rebate. similarly, women do not need this. The senior citizens need more medical and physical care. The Government will do well to provide free medical treatment to very senior citizens and provide more facilities in railways, airways etc by providing more comforts and care. However, they don't need concessional fare.

As regards women, they need not be given any financial concession. What is required is to bring in an environment safe for them. In this connection, I wish to highlight the issue of eunuchs and prostitutes. The eunuchs are the worst sufferers of gender discrimination. It is necessary to impart skills and employ them like other members of society. similarly, sex work should be recognized and justice be done to them. More fund need be allocated for uplift and rehabilitation of prostitutes, sex workers and similarly placed others sections.

budget 2011 is not good for medium person or poor person they will face certain problem

budget process has been a complicated and painful challenge at many school ... "We want to put the finishing touches on this budget (2011-12), ...