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Duty cuts is good for the healthcare sector.
Find out all about the budget and how it affects your pocket, that too, minus the jargon. Get tips from experts on what you can do now. Also meet people like you and find out what they think about the budget.
Name: Dr Danish Barmare
What is his reaction?
“There should be no import duty on life-saving technology because the cost is finally borne by the patients. But the good news is at least the excise duty for bulk drugs and pharma products have been reduced which means less cost for patients. Reduction of bulk drug means reduction in the price of antibiotics; again this is excellent news. I am also happy that customs duty on steel melting has been cut because we also use steel products in our field.”
- Since his tax outgo will decrease, he will have more money on hand to save and spend. He must choose his investments wisely and save smartly. Expert, HP Ranina says, “The budget is a good move for common tax payers. They can make substantial saving following the enhancement of the threshold.”
- Although he can invest in postal term deposits to get a deduction, he must consider instruments like equity linked savings schemes, the returns of which are more tax efficient. ELSS is also good from a long-term wealth creation point of view. Alternately, he can look at public provident fund schemes that give tax-free interest.
Want to know what Dr Danish had expected from the budget? Read this: Cut duties on medical equipment
May 17 2013, 12:38
- in FII View
May 17 2013, 12:39
- in MARKET OUTLOOK