Dear All
Budget 2013 presented by FM Mr. Chidambaram is pretty good one.
But investors and the public were disappointed for the following:
1. Fiscal deficit: The reduction in fiscal deficit is not enough. He
could have brought down below 4%
Investors and people are scared for increasing debt of
our country. Please don't follow US!
2. Black Money: India was expecting some strong measures to bring black
money and reduce black money transactions.
3. Increase in 80C deduction: We were expecting an increase in Tax
exemption investment of up to Rs. 200000/-, but this budget failed to
increase such limit 80C investments.
4. Tax Widening: We know there are huge number of people including
politicians and bureaucrats are evading tax on their actual income. And they
file returns with less income and bundle up black money and keep it in
lockers in India or in foreign bank accounts. I was surprised to see super
rich of Indians are only 42800. Its sure that we are missing huge number of
BIG fishes. Please use the proper net to catch them.
With regards
Bharat
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