Mumbaikars across age groups speak about their hopes, expectations and finally takeaways from Union Budget 2020
Anurag Thakur and Nirmala Sitharaman
While the Union budget appears to have SOPs for citizens, not everyone is impressed. There is confusion over the income tax laddoo being offered, but which is not as simple or sweet as it appears. And, senior citizens say the allocation of Rs 9,000crore for welfare of senior citizens is a vague idea. mid-day spoke to citizens across age and income groups for their taken on Union Budget 2020.
Here's what they had to say:
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Vineet Kanabar, 32, Marketing professional
There will be more confusion about filing taxes now. I already find it hard, and the new no-exemption options only make it more complex. I was expecting some news on the employment front, but it seems like the FM forgot. It may be too early to judge if this is a more pro-poor budget. One thing is for sure: It's going to be a tough year financially.
Arjun Taula, 17 SYJC student
The current generation needs state-of-the-art infrastructure, super highways, smart cities, bullet trains and much, much more. When I complete my studies, I want to look at options for becoming an entrepreneur right here. This and future budgets will have to lay extra emphasis on youth and their needs. I know a few big projects in this direction have already been initiated and would like to see them completed as per schedule.
Arun Taula, 47 Financial planner
With categorical statements that Aadhaar-based verification of taxpayers is being introduced to weed out dummy or non-existent units, the writing on the wall is clear that those who were conducting their businesses via unscrupulous methods now need to mend their ways. There is actually nothing special in this budget and the initial response from the market has not been favourable. It is likely that the LIC public offering will boost markets in future and audit limit of businesses increased from R1 crore to R5 crore will help small establishments grow.
Jyothi Taula, 42 Financal advisor
The provision of zero tax for people earning less than R5 lakh is an advantage for the common man, which will see a surge in their purchasing power, and also give them the liberty to invest surplus funds. News that PAN card can be generated instantly online is a blessing. The R28,600 crore earmarked for women oriented welfare schemes will enhance empowerment.
Anjali Taula, 9 Std IV student
When can I change the channel? I want to watch POGO.
Shyam Motwani, 82 Director of RBCS group of Institutions
There is budgetary allocation for seniors but there is no clarity on what it will be used for. Senior citizens must be allowed subsidy on basic necessities and in health care, where hospitals offer discounts to seniors. Income slabs can be decided in order to avail this.
Pic/Ashish Raje
Romila Motwani, 76 Founder director, Schnell Hans Beauty and Salone
As there are fewer opportunities for earning for seniors, the government can start platforms where senior citizens can voluntarily come forward to offer their expertise in certain sectors and earn through it. There should be bonds through which a senior citizen can keep money in banks and get high interest and this interest should be exempted from tax.
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