Top Story

e4m_logo.png

Home >> Media - TV >> Article

Guest Column: Every FM is very cautious or miserly in giving anything to the honest tax payer: Maheshwar Peri

02-March-2015
Font Size   16
Share
Guest Column: Every FM is very cautious or miserly in giving anything to the honest tax payer: Maheshwar Peri

Here is why I am upset with the Budget. Yes, it sets a direction, revs up investments in infra, reaches out to corporate sector, etc. But while it taxes the honest tax payer immediately, the benefits are statements of intent.

Every FM, including Arun Jaitley has expressed his concern for the honest tax payer, when he was not an FM. He talked about increasing the minimum slab to Rs 5 lakh for taxable salary. He was only lying.

He talks about 4.4 lacs being the exemptions from salary. Of this, 2 lakh is interest on home loans (self-occupied property) and another 2 lacs for savings. For those who cannot save nor own a home, it is zilch. It is different from the exemption slabs from taxable salary. This is cheating.

Then you increase service tax which picks our pocket every day, from hiring a taxi to eating out to watching a movie to tutoring our children. You tax us high, and of what is left with us, you steal on the sly. You are a pick pocket.

And while you are unable to pass on the benefits of crude prices, you add an Ad Valorem duty to charge us Rs.3 more. You make money on fall in crude prices, and then you rob us again. It is highway robbery.

You make one lakh crores on crude, another few lakh crores on coal auction, 3G auction, disinvestment etc. All these were windfalls gains. And every FM then is very cautious/miserly in giving anything to the honest tax payer. You don't even blink giving up a few thousand crores to crony capitalists. This is looting.

This is besides the complete inaction in making education and owning a home cheaper, loans cheaper, creating jobs, securing our lives, etc. The UPA govt. was never concerned about the honest tax payer. If UPA is the comparison, they are no different. Jaitley and Modi promised a 5 lakh limit and hence the disappointment. No other government had favourable circumstances as this one. Crude, coal, 3G. They have failed themselves while you defend them.
For me, this budget is a saga of how the honest tax payer was lied to, cheated, pick pocketed, robbed and looted. Got it?

The author is Founder & Chairman, CAREERS 360.

The group released the Little Hearts online-only campaign, #BreakSomeHearts, early this year and is on the path to make many more of its brands available on the digital platform

As Milind Pathak takes over as Managing Director - Southeast Asia, Httpool, we chat with him on his new role, aspirations and his plans to aggressively penetrate the operations of the group in the Southeast Asian market

We speak to Punit Misra, CEO, ZEEL, Domestic Broadcast Business, on Zee TV’s new look, its aim and the shaping up of domestic business

This exercise will take the channel to the next level: Siju Prabhakaran, Cluster Head – South Business, Zee Entertainment Enterprises Limited

Despite the economic slowdown, Star TV has managed to earn more than Rs 250 crores in advertising revenue from the India-Australia T20 series

Sorrell who is in India for WPP’s first-ever board meeting in the country, hints at more acquisitions and announces a second role for CVL Srinivas, CEO, South Asia, GroupM

Though business has picked up, the private FM industry expects festive ad spends to be subdued compared to 2016