Monday, 16 June 2014

Budget pinch in days to come:

Financial budget of Indian Union is due shortly and there are predictions as from experts in the field that it is going to be a hard one. Hard one because any developing economy can hardly afford a soft sort of budget. What is to be seen more closely is the extent to which it is hard. It was hardly ever in the past that didn’t hit hard the pocket of the tax payers –some Finance Ministers did it moderately and some like P. Chidambaram did it harshly with a deep prejudice against the tax payers. Need is one thing but getting personally biased or prejudiced against certain selected segments of the people is another. Chidambaram, the predecessor of the present incumbent Arun Jaitly, had a sort of sadistic pleasure in hitting the tax payers the hardest with actual need apart. Tax payers are normally prone to reconciling with need based taxes directly related to developmental plans but they find it unbearable if it is done with a prejudice unmindful of the tax payers plights. People of India including industrialists are holding their breaths watching as to what is there in store for them and such a suspense has to continue till such time the budget is out and declared on the floor of the Parliament. Let us wait and watch.

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