Budget 2016 - What becomes Expensive vs Cheaper

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Thanks nikita for giving the details of Budget 2016-17.As Govt has taken back the tax to be levied on EPF withdrawl but jewellary & other items has increase the vat & excise that is definately effect to middle class.We will pay more if we will enjoy outside the home so Govt say that sit at home & see Tv serial & save for future. subhash chander sharma more  

Yest Nikita this budget as usual is not to the expectations of the middle class, mostly salaried. Income tax slab range enhancement and considering exemption on the high school fees of children under a special head was a expectations of the middle class. Also I would emphasize on the govt to make the Mediclaim policy compulsary and affordable by all citizens as we do it for vehicle insurance. That will disburden the economical burden during Medical emergencies. more  

Thanks are due to Ms. Nikit Mehra for the summery presented by her. All the items that are going to bear a higher tax, Except the withdrawals from EPF and Industrial Solar Water Heaters (ISWH) can and should bear the weight of a higher tax. Tax on ISWH may induce the Industry to shift to use of fossil fuels, which are both environment unfriendly and need to be imported. EPF is the result of wage-earners forgoing consumption ( which is not easy in the present state of low standards of living) for providing for old age. Many corporates, including PSU's like the State Bank of India have discontinued or have had no provision of pension for their employees. Many employees of non-corporate firms also fall under EPF and save there in for their future security. They are also not covered by any pension from their employers. AS ITIS GIVEN THE PRESENT TREND OF INFLATION RISING EVERY YEAR, THE VALUE OF FUNDS IN THE EPF ARE BOUND TO DECLINE BY THE TIME THEY ARE WITHDRAWN. SUBJECTING IT TO FURTHER TAX MAY JEOPARDIZE THE FUTURE SECURITY OF THE WAGE EARNER------MANY OF WHOM ARE FROM THE LOWER & LOWER-MIDDLE CLASS AND THE REST FROM THE MIDDLE CLASS WHICH ARE ALREADY UNDER PRESSURE, SPECIALLY BECAUSE THE EXEMPTION LIMIT HAS NOT BEEN RAISED. I REQUEST THAT THESE ASPECTS MAY BE RE-EXAMINED. more  

Items mentioned above has direct bearing on its cost. Do we understand that it will have cascading impact on other cost. It means person consuming these item will have to spend more. Thus making one to earn more to meet this additional cost or loose from his current saving. In directly there is cost pressure on individual which will make other services expensive like maid, plumber, electrician, carpenter, car service and so on so forth, you name it, it going to be expensive. Do not think that aerated water / cold drink is not consumed by them. You go to any retail shop , you will find them buying it. more