Seems to be a 40:30:30 budget; some good, some bad, some I simply can't understand.
1. Excise Duty Hike on Cigarettes: Good; maybe will convince me to stop smoking. Bad; Increase the burn hole in my pocket.
2. Service Tax rate hike: Bad; both on the personal front as well for the firm that I work for. Got to pay more for services.
3. Duty cut on small cars: Good; Maruti and Hyundai have dropped their prices already. Anyway, was planning for a small car!
4. Short Term Transaction Tax: Simply can't understand. Does it affect MF investments?
5. Duty cut on aerated drinks: Good; Summer's made more bearable. Bad; Deeper into the 'fast food' mud. Swadeshi Jagaran Manch has more stuff to munch on!
6. No changes in Income Tax Rate: Good; Status-quo maintained. Bad; Status-quo maintained, could have been lowered.
7. Duty increase in Comps: Bad; Will cost more and slow (?) growth of
the already margin squeezed H/w market.
8. Duty abolished branded food: Good. Chomp along.
9. Duty cut Vital drugs: Good; some AIDS drugs will be cheaper.
10. Peak Customs Duty Cut: Good?? Bad??
11. FBT cut on business conveyance: Good; For the firm that is!
12. Duty Exemption on DVD Drives, storage media: Good; Flash drives and the like will be cheaper. Goody good news.
13. Infrastructure: Some good news. Should give a lift up to the core economy sectors.
14. Power: Seems good, got to measure against performance though!
15. Rural Thrust: Congress trying to avoid the NDA pitfall but as Rajiv Gandhi famously said only 10 paisa of 1 Rupee reaches the benefactors.
16. 1/6 rule good: Good, but is that so!
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