Humor For Your Health

You need a Ph. D. in economics and an encyclopaedia on hand to follow the top Indian economists commenting on English news channels about the impact of the Indian Budget on the common man. They freely use the latest jargon of economics and abbreviations of Indian projects (a quick sampler: AADHAR, TAGUP, GST, CRAR, RIDF, NABARD, MGNREGA, RKVY and NFSB)as if you grew up with them. Most of their discussion ranges around the changes in government expenditure and income, the state of the fiscal deficit, the concerns for subsidies, the pace of economic reforms, and so on and on. Of course, all this is meant to inform the TV viewer about how this budget will affect his personal finances, savings, taxes and inflation.Inflation? Oh yes, food prices have gone up by over 17 per cent. What’s the government doing about it in the budget? Many new schemes and s ppi reclaim ubsidies announcing for farmers and infrastructure. Don’t worry, they will bring down the prices when they are implemented.Fuel prices? Have shot up after the Middle East uprisings to new heights. Has the government cut down its tax on fuels considering the international oil prices have topped $100 a barrel? No way.Income Tax? Ah yes, the Income Tax exemption has gone up from Rs 160,000 to Rs 180,000 a year. Now you become a senior’ tax payer when you reach 60 years instead of 65 years earlier and your tax exemption will be Rs 250,000. A new category of very senior’ taxpayers, over 80 years, gets tax exemption for half a million rupees. All these tax reliefs come into effect on your next year’s income.What’s gone up and down in prices? Up – Branded garments, air travel, air conditioned hospitalisation, Down – paper, chemicals, yarns, TVs, mobiles.