II

The budget provisions are against the interests of the rising middle class. Duty on set top boxes has been hiked from 5 to10 per cent, inspite of television being a household necessity. The cost of digitalisation of TV shall be more as government has made it compulsory in many cities and slowly it shall be applicable across the country. The duty on mobile phones priced at more than Rs 2,000 has been raised to 6 per cent, another requirement which even the poor class possess now.

Service tax on all air conditioned restaurants will add to the burden of the women folk and never relieve them of the kitchen stress. The only provision in favour of the middle class is the tax deduction for a first time home loan holder.

MAHESH KUMAR, New Delhi

III

The editorial ‘Spend and grow’ can be read as ‘grow and spend’. Industrial and agriculture growth is the key to economic growth. Infrastructure and foreign investments, plugging tax evasion/ leakages, enlarging tax base, austerity in government spending, measures deterrent to economic offences are some of the steps that can make the sun shine through the dark clouds.

What we now essentially need is to increase the agricultural yield by two-three times, as is the case in advanced countries like Israel, the US, Australia, etc. It will have a direct impact on wealth growth and denting poverty. Over the years, the number of APL families has increased. Mitigating miseries of the BPL multitudes is still a dire need and a social responsibility. Mahatma Gandhi said, “The rich should live simple, so that the poor can simply live”.

BM SINGH, Amritsar

IV

No provision has been introduced to check black money, which is essentially used to win elections. While people were still calculating the cascading affect of the budget, petrol price was hiked by Rs 1.40 per litre. The actual increase in rate for consumers will be higher after including the state taxes. This is a betrayal of the nation as it came a day after the presentation of the budget in Parliament. Pete Seeger sang “it is time for people to decide which side they are on”?

SK KHOSLA, Chandigarh

V

The Finance Minister’s carefully crafted budget for 2013-14 seeks growth and balances populism and prudence. It is a balancing act between economics and politics in view of the next general election. He hopes for a fiscal deficit of 4.8 per cent of GDP in 2013-14 as against 5.2 per cent in the current year and also a continued commitment to control the revenue deficit at a time when economy has crashed from 9 per cent growth rate to an abysmal 5 per cent. Nevertheless, it is a far cry from his "dream budget" of 1997.

There are no fireworks, no change in income tax slabs, no benefits to middle class or senior citizens much to their disappointment. Majrooh Sultanpuri's couplet explains this predicament :Main to jab jaanun ke bhar de sagar har khaas-o-aam/ Yun to jo aayaa vohi peer-e-muughaan banta gaya.