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.
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