Reasons to Smile......Tax Cuts
The interim budget was passed today along with a finance bill and surprisingly the congress has moved away from his earlier stand.They have tinkered with the taxes to boost demand.Service tax is now 10% from 12%.And excise duty have also been made in the tune of Rs 30,000 crores for the exchequer.We desperately needed a booster announcement and it has been done.
Elections are round the corner and the parties are out there to please the public.The congress has come forward to describe Slumdog Millionaire bagging eight oscars as it's achievement.Any way sounds funny........
It is good that cement prices will come down because of these tax cuts.Now we desperately needed lesser taxes on petroleum byproducts like diesel and petrol.The government taxes ridiculously to make people think twice before buying those as they are scare.What a fool's logic?
If the government feels that petrol and diesel are not good for the environment, why do they allow sale of cars, buses and diesel generators.They should be fostering research and development of green technology rather than resorting to idiot's logic of taxing them.The government knows that the rich will buy the fuel at what ever price.It is the poor who finds it hard to buy them..
Japan and China are now going hybrid.Our government is not even thinking to persuade the industry to go green.Instead they encourage them to make nanos and fills them up in the streets.