there are many lessons for the retail investor from the budget:
1. It is a very important event if you are running a blog, website, channel, magazine, newspaper. It allows you to have a lot of chance for creating content.
2. No impact on the common man from an investing or tax planning point of view. Will ELSS go after the introduction of DTC? Well it is actually a function of how well the mutual manufacturer’s lobby (they even have an all India association) works on the Delhi babus in the interim period. Wait till the DTC becomes an act.
3. Peter Lynch says if you spent 10 minutes on the macros…you wasted 7 minutes..nice statement. So if a person is planning to invest for the next 20 years, and wants to know what is the impact of this budget …well you should be worried. Neither you nor the guy who told you what to do will remember it on 28 Feb 2012. Forget remembering it in 2031. LOL
4. Income tax limit being raised by 20,000 – and keeping it gender neutral is just sadism. If you adjust the limits set in the 1970s…and had just indexed it, surely the limits would be at least Rs. 4-5 lakhs. So much for a canon of taxation that ‘it should be fair’.
5. I have benefited by the budget – see it could do this stupid post. Kuch nahi hai is post mein.
apologies for wasting your time.
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