I am not going to worry too much about what you have already read in the budget. Let me just tell you what scares me.

  1. Governments lie without much of batting of an eyelid.
  2. The holy cow PF has been touched for taxation. PPF cannot be far away. Actually they could have been much much smarter. All they had to do was to reduce the interest rate to say 7% it would have had the same effect.
  3. Endowment plans, Elss, equity and equity mutual funds are holy cows in 2016. Tomorrow, could be a different day.
  4. Government hopes to collect 56000 crs. from disinvestment. As usual they will collect 25000 crs. Rupees.
  5. Government hopes to collect Rs. 98,000 crores from spectrum allocation. Las year they collected 55,000 Rupees. This year they are more likely to collect Rs. 36000 crs.
  6. You can like/ ridicule the deficit ONLY if you know what all assumptions. The correct figure is far away from here.
  7. Minimum Government, Maximum Governance is just a slogan.
  8. How PF will be taxed is a million dollar question on which a billion words have already been published
  9. If you are a small retail investor and spent more than 10 minutes on the budget you wasted exactly eight and half minutes.
  10. If you react to a finance bill by a government which has no clue how to use its majority, you are stupid and foolish. Or both.
  11. The government has done a fantastic job with the Fiscal deficit and CAD. I wish it were true.
  12. The governement has done a fantastic job with regard to rural India – reeling under a draught for 2 years.
  13. An insipid budget and could have done much more.
  14. No dynamic changes at all.
  15. Happy with just Rs. 25000 crores for banks. They deserve even less.
  16. Kill a few banks by merging them. Remember merging 2 weak banks will not make them stronger. Merge shitty banks into big.

just a quick one…my article appears in Rediff.com also…

 

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  1. PF was supposed to be a retirement fund. It should have been taxed when there is an early withdrawal. Have a gut feeling that the decision will be revised.
    With increasing medical cost , I expected medical reimbursement and medical insurance to have higher exemptions, but AJ doesn’t seem to mind.

  2. Looks like the list of taxes & tax percentage for an ordinary citizen is going beyond anyone’s comprehension. Swatch Bharat tax is levied and situation last month in Delhi gone from ugly to worse. All the taxes collected are diverted for other purposes. Services & Supplies for citizens anywhere in India be it essentials (water, power, roads) or garbage and health care are not improved. Budgets henceforth going to be much more nightmarish.

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