The Hindu : New Delhi News : More to Budget than meets the eye

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Thursday, Mar 13, 2008
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New Delhi

More to Budget than meets the eye

Staff Reporter

NEW DELHI: Well over 70 per cent of Delhiites believe that “compulsions” of the upcoming Lok Sabha elections influenced the shaping of this year’s Union Budget in a big way, while 10 per cent give credit to Prime Minister Manmohan Singh, another 10 per cent to UPA Chairperson Sonia Gandhi, and an equal number to Finance Minister P. Chidambaram for all the “positives” in the Budget.

According to a public opinion survey conducted by the Delhi-based Shyam Vyas MARC Private Limited, 70 per cent of the Capital’s residents approve of the Budget, while 45 per cent say they had expected the Finance Minister to reduce the tax burden on the middle class.

Quizzed about the Union Railway Budget, an overwhelming 70 per cent said they believed it too was guided mainly by the 2009 general elections.

Prof.Shyam’s survey

A whopping 92 per cent feel that the Delhi Assembly elections due later this year had also influenced the Budget. Prof. Shyam Vyas carried out the pre- and post-Budget survey gauging perceptions of over 600 tax-paying citizens across the Capital. “It appears the public mood is somewhat relieved that the Finance Minister did not propose a harsh Budget, but they are not in a mood to give credit for the soft Budget to the good intentions of the political coalition in power but the coming elections,” concludes the survey.

According to the poll findings, 74 per cent of the respondents felt that the middle class taxpayers were “overly burdened” with taxes imposed by the Government. An overwhelming 87 per cent reasoned that taxpayers were forced to become dishonest because of “high taxation” and complicated tax-filing procedures.

Interestingly, 70 per cent of the Delhiites polled believe that reduction in taxation slabs would result in more citizens filing tax returns honestly and willingly.

So very obviously the lowering of the tax burden by enhancing the Income Tax exemption limit this year has been lapped up by all taxpayers.

Response to loan waiver

The massive loan waiver for farmers came in as the most liked as well as the most disliked feature of the Budget with a significant proportion of the respondents feeling that it was a “populist measure taken by the Government with an eye on elections”.

A huge 75 per cent said industry would benefit most from this Budget.

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