Union Budget 2024
BJP government is doing a good job. In last ten years the country has progressed from 10th spot to 5th economic power. Many people have come out of abject poverty. There is progress in providing better health, housing, water, electricity, sanitation, education, etc.
However, middle class is the largest segment of the Indian population. They have aspirations and they are honest tax payers. Middle class is today the most neglected class of population. They are the backbone of Indian white collar workforce. They are also the big foreign exchange earners for the country.
I am yet to see a focussed policy in budget to help them achieve their aspirational goals. They are the growth engine for demand - housing, higher education, clothing, food consumption, travel and entertainment, better health facility, automobiles, etc,.
Current budget gives them nothing to cheer abut. Even indexation on LTCG is removed so they will pay more tax if they want to sell old home and move to a better place!
I hope the government looks into their problems or BJP will face same problems in coming state elections and loose in all coming elections and bye polls. more
However, middle class is the largest segment of the Indian population. They have aspirations and they are honest tax payers. Middle class is today the most neglected class of population. They are the backbone of Indian white collar workforce. They are also the big foreign exchange earners for the country.
I am yet to see a focussed policy in budget to help them achieve their aspirational goals. They are the growth engine for demand - housing, higher education, clothing, food consumption, travel and entertainment, better health facility, automobiles, etc,.
Current budget gives them nothing to cheer abut. Even indexation on LTCG is removed so they will pay more tax if they want to sell old home and move to a better place!
I hope the government looks into their problems or BJP will face same problems in coming state elections and loose in all coming elections and bye polls. more
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any govt does not think or do anything for the middle class except tax them .very sorry state of affairs that may be the reason why in cities educated and salaried do not go to vote even though now it is a holiday since they know that whichever govt comes no one will do anything to them except tax them and their voice is never heard and they are crushed by the inflation and high commodities prices and medical .Sr citizens are effected worst with a meagre pension to meet the ends more
Jul 29
Nor has the BJP been kind to the senior citizens of India. Everyone is complaining against the government but why did you elect them???? more
Jul 29
Markets are at highest of the highs, celebrating the rising number of mutual fund folios, demat accounts and booming indices. "What the Modi government got wrong with this Budget and in it's economic signalling is moving away from its generally upbeat messaging of "India is on the rise. growth will get steeper, and markets are red hot and will get hotter'." "Let's stick to what we know the Indian middle class isn't. That is, being grateful. The heat the Modi government is feeling will cool down soon. But name the one person who's done more than any other Indian across three generations to create, expand and enrich this new middle class. By deregulating, burning the licence-quota raj, opening imports, cut- ting taxes and tariffs, and pushing the same middle class towards the markets with gen- erous tax incentives. Then, let us ask: Who is the one leader that this middle class has detested most of all since, say, 2011? You've guessed right. He is Manmohan Singh. In 1999, he and his party checked his popularity in India's most middle-class constituency by fielding him for the Lok Sabha in South Delhi. He lost. What did they expect? A thank-you vote? He's only got contempt instead. This middle class comes armed with entitlement, not burdened with gratitude." more
Jul 27
bjp from the day they have come to power have neglected the salaried class and have not given them any benefit since i presume they are the people who do not have choice since it is done TDS whereas business people appoint CA etc people and they know the loopholes in the system and escape the tax payment.middle and lower middle class people always bear the burnt like inflation/prices of essential going up etc That may be one of the reason the salaried class are upset with the govt since nothing is done for them more
Jul 26
I don't think CA's can do much to help people save taxes ethically. As a practising CA myself, I can say that the system is specifically gamed to benefit certain classes of society. (eg. Corporate Tax rate is 25% which is much less than the individual peak rate, with a lot of other benefits rolled in terms of finance, subsidies, grants and exemptions.) The affluent are the blue-eyed people of this government. The poor are silenced by free food grains and some crumbs. The middle class can keep ranting but we are not a vote bank or a political contributor, so they don't care about us. more
Jul 29
