Budget 2018: No fire in the belly says expert

No fire in the belly said, R Vaidyanathan, professor of finance at the Institute of Management Bangalore and a finance expert. It is an average budget, he told OneIndia.

For the salaried class there is no significant benefit, he said. If one takes the overall medical and transport benefit, it does not suggest anything significant, Professor Vaidyanathan also said.

The middle class in particular was waiting for a change in tax slab as well as additional benefits when it came to investments. Hence the middle class in particular is bound to be unhappy, he also said.

The good side is the benefits doled out to the agriculture and health sector. I however feel that this should have been done in the first year itself. These benefits do not come immediately and take some time. Hence if one is talking in terms of the election perspective, it may not serve the purpose the professor also added.

The corporate relief announced in the budget is a good move. The Finance Minister announced that companies with turnover of Rs 250 crore would come under the 25 per cent corporate tax slab. This is a very good move he said.

He also said that exemption for senior citizens is also a good move and would help them be comfortable.

The decision on cryptocurrency is also a very good move. It was good that the same has been mentioned, Vaidynathan said. The problem with such currency is that there is no sovereign guarantee and is not back by gold or any reserve. It is highly speculative and hence to this effect this was a good move to state that cryptocurrency is not legal tender.

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