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    Published On : Fri, Feb 2nd, 2018

    FM has disappointed business community, says Hemant Gandhi


    Nagpur: Hemant Gandhi, President NVCC said, Finance Minister in his last full budget has disappointed business community in particular and citizens in general. In the name of farmers FM has doled out tax exemption to Farmer Produce Companies, the people have to wait and see how this step will reduce the troubles of farmers. It seems FM has lost sight to the fact that Rail budget has been merged with Union budget; except for broader summary he has not given any details about new trains, increase in frequency or extension of route of trains. On direct tax front also FM has disappointed people, no increase in exemption limit for individual and for salaried class he has given by one hand taken away from other and after increase in Cess by 1% effectively there no relief salaried class also. It seems that instead of Budget speech FM has read out 2019 election rally speech.

    FM should have announced ‘No work, No pay’ for MPs : Sanjay Agrawal
    Sanjay K Agrawal, Secretary NVCC said, though Finance Minister has acknowledged the hardship faced in real estate transactions due to mismatch in circle rates and transaction value but failed to address the problem in totality.

    Further while proposing for periodic revision of MPs’ salary based on inflation index, he should have also proposed for ‘No work – No pay’ for MPs’ not attending Parliament or disturbing the proceedings to address the concerns of taxpayers on this issue. FM in his initial budgets has rationalized concessions given to corporate taxpayers with promised to reduce tax rate from 30% to 25%, this promise if half fulfilled in his last budget. Fine print of world’s largest health care programme has to be seen before applauding for same.

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