Frankly I have no clue about what to expect. However I know what people will say:
1. The FM should raise the taxable exemption limit by at least Rs. 50,000
2. The exemption limit for women should be raised by Rs. 75,000.
3. There should be a separate limit (like 80 C) for repayment of home loans. This will encourage more people to buy houses and will in turn increase the demand for cement, steel, etc. (please remember the biggest beneficiary of the HOME LOAN tamasha is the home finance industry – SBI alone has a Rs. 100,000 crore HL portfolio).
4. The limits for medical insurance premium deduction should be increased by Rs. 15000 at least (remember the general insurance lobby is getting stronger).
5. 80 C limit should be enhanced to Rs. 300,000 at least (poor life insurance and mutual fund industry are wondering what to do next, at least if you are Fidelity or AMP you can leave the country!)
6. 80 C there should be a separate limit for life insurance companies alone.
7. The income of people above the age of 80 should be made completely tax free. (Senior citizens forum)
8. The government should reduce the prices of gas, petrol, diesel, etc. should be reduced by reducing government levies. (the car lobby is amused that the government’s policies- supported by the left are actually reducing the market cap of IOC, Hpcl, Bpcl, Ongc and increasing the market cap of Tata motors, Hero Honda, M&M, etc…)
Ultimately experts say what they want, then experts say what happened, then they say why many of these things DID not happen.
God bless the experts, God bless the over worked anchors, God bless the parliamentarians who hear the bill and pass it…
Generally, God Bless!!
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