Cosmetic, disappointing, unfair: Common man’s take on Budget

NAGPUR: Nirmala Sitharaman’s maiden Budget evoked mixed reactions from the ‘aam admi’ (common man). The reactions veered from extreme to moderate as retailers rued the rise in fuel prices which would impact the disposable incomes, while some felt that the effect of the measures announced in the Budget would be visible in the long run.
Upset with the hike in import duty on gold to 12.5%, jewellery retailer Bharatbhai Sheth said, “Gold retailers’ federation had demanded cut in duty from 10% to 5%. Instead of heeding to our demand, the finance minister has raised it by 2.5%. This is very unfair to our business. As it is, the retail business is very low, a cut in duty would have infused life in it,” he said.
There is nothing path-breaking in the Budget, feels Yash Gandhi, an electronic goods dealer. “The provisions are such that one can save in taxes by spending money. Otherwise, it’s all very cosmetic as the finance minister has simply tweaked here and there to present a tame Budget. However, removing charges on digital payments will get people into the habit of using digital payment gateways in a big way,” he says.
Stringent fiscal measures adopted by the government in its last term will give way to more ease of doing business, feels event manager Nilaya Verma. “For the common people, there are hardly any gains. Hike in fuel prices is steep. Almost everything that the middle class buys is set to get expensive. The rich and the upper middle class will feel the pinch the most,” he says.
Terming the Budget as not up to his expectations, businessman Rishi Udhoji says, “I have not understood this concept of tax cut on loans for e-vehicles. First of all, there is hardly any choice in the market for such vehicles. Secondly, the cost of driving them is even higher than petrol vehicles as their maintenance cost is very high.”
Describing the Budget as good for the middle class, advocate Trupti Udeshi says, “By increasing tax relief that can be claimed on repayment of home loans, the finance minister has made buying a home more affordable for the middle class. Similarly, full tax rebate for individuals with net taxable income up to Rs5 lakh is also a good gesture,” she says.
“Modi government has never favoured the middle class,” feels homemaker Vidhi Prakash. “The increase in prices of petrol, gold and white goods affects the middle class in the long run. The rich don’t even notice the change while the poor are not big consumers of these things. This is a very disappointing Budget,” she adds.