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Social Budget-Is it??

CA Nikita (Chartered Accountant) (4158 Points)

29 February 2008

Can we say that the FM has righly made this budget keeping in mind Social development as the primemost concern...???

In my view this is the outmost Mr. FM cud ve done for the farmers who have bein livin in traumic situation since last few yrs .... Y do we forget our country's economy is agriculture based..though there r views of this being election stratergy .. I'm totally against such comments

Kindly give ur views

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8 Replies

kishor kumar g.c (C A Final Student) (142 Points)
Replied 29 February 2008

I think it is not social budget or Economic budget it is purely Election budget

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ACMA-ICAI (DGM-Global Voice Business) (1052 Points)
Replied 01 March 2008

As a Individdual Tax payer, one can be happy. but think about farmers who had taken loan from money lenders. most of farmers in India had taken loan from Money lenders and not from Govt Bank. so, there is great doubt about loan waivers propoasal of Rs 60000 crs. another point is that, 6th Pay commission report will come soon. there is also burden of Rs 16000 crs due to increment of salary of Govt Employee. this expenses will definitely pass on Individual Tax payer and Industry on next budget. there is no clear proposal to check high rate of Inflation and creat vast employment opportunity etc. also, loan waivers to farmers not good. it can be created bad habit among farmers. NPA of Bank will definetly increase in future.

(Guest)

@ CMA, u have rightly explained about budget proposal. i agree with you. thanks..

O.D.SHARMA (DGM-F & A) (1734 Points)
Replied 01 March 2008

Overall this is a good Budget.Individuals & Service class is main benaficial in this.

CA.Akhilesh kumar (79 Points)
Replied 01 March 2008

Yes you are right it is a overall a good budget

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SUSHAMA (TAX CONSULTANT) (162 Points)
Replied 01 March 2008

good one

Rajesh Itty Eapen (111 Points)
Replied 05 March 2008

i think it is a social Budget.but then its sure tat the Fin min has prepared such a budget for the upcoming elections.. well anyways, on a whole the weight of the balance is on the good side..
waiving of the Rs.60000 crores..now i guess the fin.min has not got the numbers wrong. the B/S of banks and govt does not hav agri loans of 60000crores. so dont know wat he meant by tat? but still, the loans of any agri will be waived off in which the banks and the govt will bear partly. moreover the govt can afford to increase the salary of its employess, coz business has improved and more profits comin... petrol,deisel prices has been hiked..so tat wil take care of all the so-called good things in the budget..and the old 30% std dedction withdrawal can take care of the salary appraisal probs...
this budget was more freindly to the middle class and individual tax payers... anyways sounds good on a whole...but the biggest problem we need to look at is - INFLATION.. i DONT WANNA PAY more for anything anymore.. and the global economy has slowd dwon..so, we need to pump up our operations at this phase on the global platform..so its gonna be real tough..
hope things work out better.
itty

kishor kumar g.c (C A Final Student) (142 Points)
Replied 11 March 2008

100% it is a election budget otherwise he would have implement the proposals earlier budgets wat is the reason behind this budget it is surely election budgets