T.R.Anandan

The important points which call for the attention of the Finance Minister for inclusion in the budget for 2011-12 are the following:-1 Due to the escalating price levels there is justification for raising the no-tax slab for those with an income of around Rs 6 lakh per year.The tax rates should have consideration on the highest inflation rate of the previous FY.2. The senior citizens deserve substantial relief from IT. The medical expenses of the pensioner and his spouse should be exempted from IT. Also the no-tax slab should be raised substantially.Employed persons also should get tax relief in a substantial way.The financial inclusion for the rural poor and the offer of subsidies should be subjected to a comprehensive examination by an expert group for the method of rendering these and quantity and norms,In an expanding economy, allocations to various sectors should be based on critical study of the various sectors and the quantum decided according to priorities to be determined in the study.There should be standing committees for the various sectors for such study. 3. There is a growing disparity of income among the salaried sector which is rising by the day and affects the life of the less privileged causing frustration in them . Some meaningful steps need to be initiated to reduce the gap.4.Inflation figures and annual growth of the economy should be related to ensure that the effect of the former is reduced in the case of the lower income groups.There is justification for a mid-year review of the year’s budget to make it really pragmatic and welfare-centric.