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Union Budget
10 good things about the Union Budget 2014, which made me smile
Frankly stating, Arun Jaitley, the finance minister was more like a Santa Claus (when no Christmas is around) while presenting the budget with goodies for all in his mysterious bag. The best thing about the budget is that there is something for everyone.

Although the perfect analysis of the pros and cons is a realm of an economic expert but as a common person I liked certain things things about the Budget 2014.

Poll
Are you happy with Indian Union Budget 2014?
Yes :
60.48 %
No :
33.87 %
Can't say :
5.65 %
Sponsored By :
Marginal Reduction in IT: For a salaried class, Income tax saving is always good news, no matter how small it may be. At least it gives a thought that the government is concerned about the burden that tax payers bear. Though there were big expectation of upto 5 lac tax exemptions but just another 50,000 increase in the limit (2 lacs to 2.5 lacs) is not a bad idea at least for a start.

  1. Three Ms - Milk, Medicine and Mobile will become cheaper.

  1. The best thing about the budget is it has been harsh on tobacco products like Cigarette in terms of excise duty. They will become costlier as the excise duty has been hiked to 72% (earlier it was 11%), so smoking will not be only injurious to health but also costlier to the pocket as well. Even pan masala and other chewing products are going be taxed heavily.

  1. Another Rs.5000/- rebate in housing loan 1.5 to 2 lacs.

  1. Aerated drinks has been levied with an additional 5 percent excise tax.

  1. Household products like edible oil and soap will become cheaper.

  2. FDI in Defense and Insurance sector with 49 percent share is a welcoming move.

  1. More IITs, IIMs and AIIMS in the country.

  1. Senior citizens have been taken care of.

  1. Around 28 schemes have been planned, though the allotment of money is little less 100 cr each.

Of course there are some disappointments like 100cr is too little for the apathy of a girl child and other women issues. Especially when Statue of Unity at Gujarat has got 200 cr. With all respect to Iron Man of India, Sardar Patel who is always loved in the heart of people, I feel a girl child should have been given more importance.

But as a whole I would still rate this budget 7.5 out of 10. Everybody has something to take away. At least I see a vision for a future and an intent to make things better. At least this government is talking about reforms, interlinking rivers, generating jobs by boosting infrastructure and FDI. I feel positive and hopeful.

If the Rail Budget was more pragmatic not populist then Union Budget is more directional than smoothly reform oriented. "There are two ways of getting more revenue, one you earn more and second is you spend less" said Arun Jaitley in his maiden Budget. I agree to it totally.

Editorial NOTE: This article is categorized under Opinion Section. The views expressed in this article are solely those of the author and do not necessarily represent the views of merinews.com. In case you have a opposing view, please click here to share the same in the comments section.
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