Tuesday, April 19, 2016

Which way should salaried person go?

Cartoon Courtesy: Times Of India
(This blog post is written in reference to this news: 
http://timesofindia.indiatimes.com/city/bengaluru/Violent-protests-in-Bengaluru-against-PF-withdrawal-norms-several-vehicles-torched/articleshow/51893679.cms)

Which way should salaried person go? From Post office schemes to bank FD and other interest rates are very low. Income tax limit is not risen. From earned FD income tax is deducted on maturity. If he/she invests in stock market he/she has to pay STT. His/her professional tax is deducted. There is also TDS. Service tax is applied on almost every service. And recently service tax was raised to 14 %. Value added tax is also there. Swachchhata cess and other cess are additional! Petrol and Diesel prices are not decreased as per international rates.

I can agree and support this government on nationalism issues (because except Shiv Sena there is no such party) but not on economic front. This government is proven worse than previous UPA government as it wants income tax deduction on pf withdrawal. And now there is rule changed that no employee can withdraw pf until age of 58! Thank god that employees are protesting in many parts of country. Hence government has to postpone its decision till 31st July 2016.

Vijay Mallyas and Lalit Modis get away easily loans and even they get away from country without paying single rupee to banks. What would have happened if salaried person does same thing? Even farmers loans are forgiven because they are vote bank.

In Gujarati, there is proverb- Jeno raja vepari tenee praja bhikhari (If King is trader, subject will certainly be beggars.). Every government now adays eyes on how to get tax and how to earn money without giving high facilities compared to collection of taxes. e.g. in Ahmedabad, AMC is creating paid parking on Prahaladnagar to Shyamal road. Due to this parking problem has been intensified. Road has become narrow. And it is not commercial road like CG Road. So persons residing around this road will have to pay unnecessarily if they go to purchase even vegetables or any other small things.

Bosses add misery by not increasing or just 10-12 percent increasing salary. Favouritism also play its part in getting salary increment. And on the other hand, prices of the things once increased don't decrease. Even Chaiwalas increase price of tea with every rise in petro-diesel prices. Even hair dressers rise hair cutting prices. But salaried person don't get rise in salary as per inflation.
Please don't argue- there is no free lunch. I don't buy this argument of US. I don't believe in capitalism not either in communism. Our economy should be based on our ancient principals or based on our social life.

God please save us from this robber rulers.