Union Budget 2015: Nothing meaningful as compared to what was expected

Anil Rego

Indian Budget is always high on expectation with the audiences from different groups like industrialist, entrepreneurs, tax payers and citizens. With the improving credibility of Indian economy along with strong expected growth and tripping inflationary pressure, on the personal finance front it was expected that the government will roll out bundles of measures which will ultimately benefit the taxpayer and the citizens of India.

Amidst the list of expectation which people had from the budget, only few of them were fulfilled. One of the most important segment of tax -  tax slabs, which was expected to be revised upwards. However government did not make any changes to the tax slabs which were revised during previous budget. Considering the strength in the current economy, a reduction in tax liability by changing the tax slabs would have left additional amount in the hands of tax payers which could have been channelized as investments or consumption.

Also considering the importance of infrastructure growth, it was assumed that there would be additional benefits for the home buyers as well as existing borrowers of home loan, however tax provision on housing loan remains unchanged.