NEW DELHI: The man on the street expressed a mixed reaction to the Union Budget on Wednesday. While working professionals welcomed the relief in income tax under the new regime and business owners hoped for better days now, there were others who felt GST changes should have been made.Government employees and private company workers appreciated the alterations in the tax regime. Ajay Singh, a software engineer in a private firm, said that tax relaxation is always a welcome decision. “I am yet to go through the details of the Budget, but my initial understanding is optimistic. For salaried people like me, saving hard earned money from tax is a big thing,” said Singh.Payel Singh, who is employed by a private bank, said that though the government had effected changes in the tax regime, there wasn’t clarity on the implementation. “There is confusion about the slabs and the reduction in taxes under the old and new regimes. To understand this, one has to study the Budget in depth,” she said. “Apart from that, the rest of the Budget has not offered anything specifically new and attractive. It was just a safe budget.”GST was a disappointment for homemaker Pawandip Kaur. “With every passing day, products are becoming more expensive and are becoming quite difficult for middle-class people to afford with their earnings,” she said. “There is GST on each and every small item. I think it would have been a big relief for homemakers if the government had thought about a lower GST rate for at least certain commodities.”The business community was also divided on the impact of the Union Budget. “Efforts to benefit the small manufacturing units will enthuse the trading sector since the manufacturing goods and consumable income will accrue to the economy and will help meet the current challenges of financial liquidity in the trading sector,” noted Praveen Khandelwal, secretary general, Confederation of All India Traders.However, Brijesh Goyal, chairperson, Chamber of Trade and Industry, pointed out, “Despite being two years old, almost 90% of businessmen and middle-class individuals still opt for the old income tax system. Also, there is no big relief in GST. Petrol and diesel should have been brought under GST. The interest rate for loans could have been reduced for MSMEs and small traders.”Rajinder Singh, 54, a professional, was happy about the relief given to the middle class in tax. “Currently, the middle class is suffering a lot because prices of items of daily need are high,” he said. “So, any step to give us some tax relief is very welcome. I am still to go through the budget in detail but what I have heard till now is that the income tax rates have been reduced. But the poor performance of businesses is a concern.”
Source: https://timesofindia.indiatimes.com/city/delhi/mixed-response-to-budget-on-city-streets/articleshow/97534434.cms