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Budget 2018-19: A Perspective

Budget in simple terms means “You give me taxes; I will give you the social and economic services.” The government implement taxes on the public and in return provide the social and economic services. The essential Social Services that government provides are education, medical and public health, housing, the welfare of SC, ST, OBC and minorities, social security, labor, employment and skill development. The essential economic services provided by the government are agriculture and allied activities, rural development, irrigation, energy, roads, railways, shipping, aviation, science technology and environment. A budget can be judged by measuring the amount of tax revenue received by the government and in return the social and economic services provided by the government. On comparing the budget of 2018-19 with the actual situation in the year 2014-15, we find that the income tax slab has remained the same in 2018-19 as compared to 2014-15.  The one significant change is that in 20
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Net Neutrality

Before I dive into the effect of the removal of Net Neutrality on the Indian economy, it becomes extremely necessary to throw some light on the concept itself. How come I did not read this term in my school and college text books? May be I bunked that day! Thanks to my bunch of friends. Frequently Asked Questions (FAQs) on Net Neutrality What is Net Neutrality? The name sounds like an app in the Android Market place….. In simple terms Net Neutrality means equal treatment of all the websites by the internet service providers (ISP). It’s like “Kanoon ki nazar me sab barabar hain”. Currently the ISP do not provide any kind of preferential treatment to any website i.e. all the websites are accessible at the same speed irrespective of their popularity. Who are ISPs? Internet service providers commonly called ISPs are the companies that provide us internet on our Smart Phones, Laptops, PCs and on whatever devices you have managed to access the internet. Why the big debate
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Fueling the Economy

In the last quarter of 2014 Indian economy has seen a growth rate of 7.5 per cent year-on-year basis. This has made India the fastest growing economy in the world, surpassing China. In the last quarter of 2013 Indian economy grew at the rate of 5.5 per cent. There is clearly a jump of 2 per cent in the growth rate. This has been achieved at the the time when most of the economies of the world are seeing a downward trend in their growth rate. A question arises what has actually changed in India that has made this achievement possible. Is it the change in the Government or the fall in the global crude oil prices? In my view the role of the new government and the fall in the oil prices both are responsible for this.  We all must have read or seen in the news that Global crude oil prices have decline from $110 per barrel to about $45 per barrel in less than six months time. What is the reason behind such a sudden decline!! I see three important reasons:  Fall in dem
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Budget 2015: Myth Busted

On 28th February finance minister Mr. Arun Jaitley presented his first (for full year) Union Budget. He finished his budget speech with the lines: "Sarve Bhavantu Sukhina......". These lines are actually the summary of the Union Budget 2015. As soon as he finished his speech there was huge uproar in the media and social networking sites. The corporate sector applauded the budget while the common people were shuffling the various news channels to gain an insight into the budget!! It's true because majority of the people in India understands this vital document of Indian economy through the lens of media and various experts in the panel.  Media created the myth that  Budget has nothing for the middle class!! First we need to understand the definition of "middle class". In India the majority of the population falls under this category. The size is so large with diverse characteristics that it needs to be classified into three categories: Upper Middle Class
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