Monday, February 22, 2010

K.Vijayakumar, Chennai

My first and foremost wish in the budget is for removal of FBT at the hands of employees. Salaried class, with unforeseen inflation, has little left at hands. Removal of FBT will go a long way.
Exemption under section 80C, 80D, 80DD, and 80G to re looked into. Ceiling of maximum of Rs. One lac for Housing loan deduction should be enhanced upto atleast Rs.2.00 lacs , to take care of middle income group who aspire for a house. A social commitment on the part of the government will be admired by this poor section of the society.

Government is not a corporate, where only the social, economic development should be the concern. Of course, fiscal deficit should be contained only on a long term prospective, while the short term goal, is to build strong infrastructure , where rapid investment, encouragement on the part of the government for a conductive climate, on our march towards developed nation.
Concept of Private Public Partnership on infra development should attract maximum benefits , and lure with extended tax holidays etc.. will go a long way.
Oil subsidy should be immediately addressed to as affordable car and two wheeler owners (above 150 CC), should be given only premium petrol/diesel, where market factors to determine the price. Subsidies LPG per family to be reduced to 5 or 8 a year for a lower/middle income group and others at market determined prices. Of course, kerosene and diesel to be spared with a smaller subsidy portion. Our precious resources, will not be taken away as oilbonds and cash compensation to oil marketing companies.
With a huge demand and supply gap in power sector, eco friendly wind and solar generation should be given more thrust, whereas for the corporates, it is to be mandatory to set up wind mills in proportion to their electricity consumption or else to attract higher rate of corporate tax.
Disinvestment should be speeded upon , without diluting Govt. control , is an excellent source of funds for infra building of the nation , which is to be speeded upon the next FY.

K.Vijayakumar
Deputy Manager (Credit) Credit cell
State Bank of Travancore,
Zonal office, Guna complex,
Theynampet,
chennai 600 018
Mob: +91 95000 86377

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