Sunday, March 1, 2015
NGOs' Association deplore the Union Budget 2015-16
The Union budget for the financial year 2015-16 presented by Finance Minister Shri Arun Jaitely is a big disappointment for Government employees and other working class people. The Budget offers no personal tax relief to tax payers as expected by everyone. The ruling dispensation at Centre has not bothered to implement its election promise of enhancement of income tax exemption limit to Rs 5,00,000.
The disadvantages to common man have increased due to enhancement in Excise duty and Service tax from 12.36% to 14.42%. The proposed increase in indirect taxes is inflationary and is burden on the ordinary people, salaried class the more.
Whereas the rich and super rich are favored by the Finance Minister with abolition of wealth tax, reduction in Corporate tax from 30% to 25% in 4 years.
The Government Employees are totally neglected in the budget as there is no word about their genuine demands like merger of DA and grant of Interim relief etc. Requests from various service associations for exemption of ISDA, Hard Area Allowance etc. from Income Tax has gone un-heeded.
Non-Gazetted Officers’ Association, A&N Islands records its disappointment on the budget for the year 2015-16 presented in the parliament today.