| People’s expectations from the budget |
23rd Feb 2013
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Adarsh Ramakrishnan,
Lawyer, Delhi
I think that this year the budget should reflect the UPA's understanding that they have made several mistakes in their current term. It should show their pro-activeness in fiscal policy making and also continue combating inflation. Even though this is the last budget before the elections, I would like it if the decisions are aimed at correcting the economic conditions right now.
Amar Mudi,
Government Employee, Delhi
Right now the common man wants the government to take some measures to reduce inflation. Moreover, while there has been increase in inflation, there hasn't been a similar increase in incomes. As a result, the government needs to revise and reduce the income tax slabs that are in place right now. Further, the government needs to encourage FDI and other investments in order to create more jobs.
Avni Singhal,
Student, Delhi
Inflation needs to be curbed. As students, we rely on our pocket money to get through the month, but with the inflation in food prices, commodities and even stationery, it is really hard to sustain that. Our education system doesn't make it easy to work while studying and as a result, the burden is on our parents.
Judhajit Sengupta,
Market Research Analyst, Delhi
I hope that the Finance Minister, in the upcoming budget, does not increase the slabs for the employed class. I would also like it if the finance ministry takes some serious steps to reduce government expenditure. Also, I would appreciate it if some reforms can be introduced to reduce the exhorbitant home and automobile loan rates that are prevailing in the coutry.
Nishtha Arora,
Working Professional, Delhi
The price of general day-to-day commodities has gone up due to inflation. As a result, we can buy almost 20% less than what we could have earlier with our incomes. I think that this year's budget should focus primarily on addressing this issue, either by bringing down inflation, or by taking measures to increase the income of the masses.
Ajay Aggarwal,
Pharmacist,Chandigarh
Local players in the pharma business hope that the VAT on the medicines is brought at a common level, which is 5% in Chandigarh and 6.05% in Punjab. VAT in Chandigarh on food items is around 12.5 % whereas in Punjab it is around 13.75%. This should also be brought to a common level. We want more regularisation of the rates and the taxes.
Amit Sethi,
Student, Chandigarh
I expect the government to focus on infrastructure development and reduction of administrative delays. Improvements in these two aspects will help foster India's reputation as a futuristic growth economy, which is prepared for serious investments by foreign investors and companies. I also expect the government to focus on reduction of fiscal deficit for enabling a stable economic environment. While doing so, we should not compromise on the capital spending but should curtail wasteful subsidies and welfare spending.
Priya Changol,
Service, Chandigarh
I expect that there should be an increase in exemption limit on income-tax. I think that the slab of tax free income has not moved in line with real inflation. The current basic exemption limit of Rs 2 lakh should be increased to at least Rs 3 lakh, while the limit for women should go up to Rs 3.5 lakh. Also I am hoping that the rate by which the salary of a common man hikes matches the inflation.
P. Vatsayan,
Entrepreneur, Chandigarh
I expect that the budget will allow for a conducive framework for the early stage entrepreneurial eco-system along with the increased allocation for risk capital. The time has come for the Indian economy to provide for a stronger framework for student entrepreneurship and for setting up innovative and technological ventures.
Sureshtha,
Housewife, Chandigarh
Increasing gas prices, food prices, cosmetics, education for kids, household items, medicines, eating out and even entertainment are scaling new heights. I really wish that the FM presents a proposal that will bring down the prices of all the goods that directly affect the household budget.
— Compiled by Prasid Banerjee & Munish Dhiman
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