Tax slab remains unchanged for salaried employees (but 2% tax increase on super-rich ). The only benefit for salaried employees is increased tax deductions (upto Rs.4,44,200) inviting investments in health insurance, pensions and provident funds. Increment to 14% for sales and 12.5% for education cess.
But majorly the budgets invites investments, (reduction in corporate tax from 30% to 25% in next four years), growth, job creation (Rs. 70,000 crore investment in railways and road constructions), reduction in fiscal deficit, controlling inflation rates to 5% and reduction in black money by introduction of GST. Further government plans to sell of sick PSU firms, and strategic disinvestment to private sector.
Budget is pro-capitalist. Even if not the best it is better compared to what UPA had done previously.
P.S. : Nevertheless, I wait for the day when there would be minimum to no government control in economics.
