Budget 2015: Not overtly populist, but well geared towards growth
The impact on your salary and savings
The differently-abled citizens have also been kept in mind. The limit of deduction for the medical expenditures of such citizens has been hiked to Rs 75,000 from the earlier Rs 50,000. In case of severe disability this limit has been hiked to Rs 1.25 lakh from the earlier limit of Rs 1 lakh.
The BJP government also wants you to be conscious and put away money in a retirement corpus. Therefore, for making a contribution towards any pension fund and the New Pension Scheme, you get a deduction of Rs 1.5 lakh from the earlier deduction limit of Rs 1 lakh.
If you have a girl child, there is further good news for you. The finance minister has announced that all investments in the recently launched “Sukanya Samriddhi Scheme”, a small savings account for the girl child, as well as all payments to the beneficiaries including interest payment is exempted from taxes.
Fuelling the Indian passion for gold
Indians have traditionally been smitten by the yellow metal. But they have a tendency to hoard it, which does nothing for the economy. The
Uplifting the youth –Make in India
The BJP government has taken cognizance of the fact that in order to boost the population of a nation like ours that is young and aspiring, concrete steps need to be taken to encourage entrepreneurship. Therefore, the finance minister announced the allocation of Rs 1,000 crore to encourage
AdvertisementThe other laudable initiatives towards harnessing the power of the youth that Arun Jaitley announced were the proposals to launch the “National Skills Mission”. It will focus on skill development and vocational training and the formation of a new scheme called “Nayi Manzil”, which will bring confidence among the unemployed youth minority in India.
All of these measures have been taken keeping in mind the “Make in India” initiative of the central government. The policymakers seem keen to harness the great potential of the Indian youth to give a boost to manufacturing, entrepreneurship and creativity in the nation. This will take the country to its next growth trajectory.
What gets cheaper and what gets costlier
After every budget is announced, all that the common man wants to know is what gets cheaper for him and what is it that he will have to shell out more for. So here is the lowdown. As a precursor to the Goods and
But wait, all is not lost! For those who have a shoe fetish can rejoice as leather footwear is set to become cheaper. The reason being that
AdvertisementIn conclusion, it is therefore right to say that the finance minister did not go overboard to make populist announcements and given the fiscal constraints that he is still operating under as a legacy of the previous government, he has done his bit to boost the spirits of the ‘aam aadmi’. Sure, cigarettes and eating out are set to become costlier, but that is not such a bad thing is it? How about giving your lungs some fresh air and cooking up a storm at home?
(About the author: Rajiv Raj is the director and co-founder of www.creditvidya.com.)
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