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Indian Budget-2007 (A failure)

Many people in India have lot of hopes from this budget. There were expectations among the people especially in the middle class that Finance Minister P Chidambaram will provide them some relief. India is seeing a fast track progress in present time; therefore our finance minister is required to come up with some attractive measures which could encourage more trust among the individuals.

For tax payers finance ministers have marginally increased the exemption limit by 10000 whereas on the other hand increased the education surcharge on tax by the 1%. Overall there is not a significant help given by the FM to the Indian tax payers. The major point about this budget is that FM has not taken any solid measures for reducing the inflation or rising prices.

The bad point of this budget will be that now on the prices of eatables like grain, pulses, vegetable and meat will increase further. Only good point is that now on the electronic gadgets like computers, laptops, mobiles, fridge and AC will be cheaper by some extent. LPG, Kerosene and automobiles will be expensive in near future. If we give a look at this budget then this budget looks more favorable to the rich class and less or no beneficial to the middle and poor class.

Now on investing in shares and mutual funds will be more expensive. This may be the reason behind the debacle of share market by more than 500 points. The other negative point about this budget is that this budget is giving birth to double tax regime where people are giving multiple taxes on the single thing.

Our Finance Minister P Chidambaram lost this great opportunity to offer a good budget to the people. FM has assured many plans in his budgets for the help of the poor and privileged class and we all can only hope that money should reach in the right hands.

Also read Review-Railway Budget-2007 (a good and forward looking budget)

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