Budget 2010
Once you go through the fine print in Budget 2010, you ask yourself what does it actually do - for R.K. Laxman’s “common man”. Everybody is waxing eloquent on the budget – calling it a budget for the “aam aadmi”. I would like to debate that for a moment – who is India’s aam aadmi? Is it the educated employed, is it the uneducated employed, is it the farmer, is it the son of the soil, is it India’s super rich, or is it the vast majority of unemployed who cannot afford to have a square meal a day? I leave it to you to decide who is India’s aam aadmi. Who has the budget benefited? This is a no brainer, with the salaried tax payer and individual tax payer getting a lot of relief through stretching of the tax slabs. There is a little bit of everything for taxpayers who benefit. But what is the percentage of tax paying populace of this vast country? Excise has been raised on petrol and cement which will have a ballooning effect on prices of food and housing. The common man who is looking fo...