Higher levies, no I-T rebates to drive up cost of living: Citizens

MUMBAI: The expectation that Budget 2018 would be a populist one, given the prospects of an early general election, came to nought as some

salaried

Mumbaikars rued the lack of relief towards income tax.

Ashwin Dasgupta, who works with an I-T firm in Mindspace, Malad, said, “The middle-class is already burdened by the high cost of vegetables, food items and LPG. Now even edible oil and toothpaste will become more expensive. Moreover, the government has raised education and health cess from 3% to 4%. Customs duty has been increased on imported cellphones and TV sets, and a new social welfare cess of 10% has been imposed. These extra levies will only increase the cost of living. Where is the relief expected in an election year?”

Pensioner

Suvarna Shetty from Kandivli, though, was pleased that senior citizens had received tax exemptions towards fixed deposits and small savings as well as medical insurance.

Consumers

complained that while the Budget had given with one hand, it has taken away with the other. Motorists were unhappy with the reduction in excise duty on petrol and diesel by Rs 8 per litre followed by a levy of Rs 8 as road infrastructure cess.

Damodar Tandel, president, Akhil Maharashtra Machhimar Kriti Samiti, said, “The Budget announced a Rs 10,000 crore corpus fund to be distributed between fisheries, aquaculture and animal husbandry nationwide. So each sector in each state will get a pittance. Meanwhile, the FM has hiked the rate of fishing nets. In effect we will lose more than we gain.”

Conversely, chief minister Devendra Fadnavis said the budgetary provisions would lead to ‘Sabka Saath Sabka Vikas’. “The budget treads a fine balance between urban and rural infrastructure. Mumbai has received the lion’s share of infrastructure allocation,” he said.

Real estate developers expressed mixed feelings. Some said that despite the emphasis on affordable housing and infrastructure, the budget was no “boon”.

“There is no reduction in 12% GST so home buyers are disappointed. Low-cost homes are selling but high-end inventory is not in demand because of high GST rates,” said Manohar Shroff, former secretary, Navi Mumbai chapter of Maharashtra Chamber of Housing Industry.

But

developer

Rajesh Prajapati said, “Once builders read the fine print, they will realize they can get benefits like input tax credit if they share the burden of GST.” Navy Nagar resident Kanta Kadam welcomed the announcement to instal CCTV cameras at all stations and in trains.

Transporters

rued that their demand for including fuel under GST was not addressed.

Hotel

and restaurant owners also felt sidelined.