Monday, March 5, 2007

Budget folly

The finance minister of India has increased IT exemption for men up to 110000 , for women 145000 , and senior citizens up to 195000 . I don't understand this logic .
Nowadays women work in BPO's and MNC's ,etc . They are earning a good amount . But whatever it may be their income is an extra income to the family .While in most family in India are patriarchal where only a man earns. His parents and siblings are dependent on him . He has to look after them . Hence , he ,too , deserves higher IT exemption . Senior citzens who earn that amount are well off and most of them have children's to look after them . Even if they don't this amount is enough for them . Further they get more interest on savings . The only worry for them is medical expense . But for that there is insurance .
The finance minister has pleased these well-to-do citizens while ignoring the widows of debt-ridden farmers who committed suicide of the vidarbha region . Many more senior citizens, their parents , are in pitiful condition .Hence , if the FM would have brought their IT limit on par with the men we could use the money for these poor people .