It’s not just the facts and logic that matters, Mr. Arun Jaitley, you have to take the ‘mood’ and perception into account also.
You and Mr Adhia have explained with impeccable logic why nothing or nothing more needs to be done for the salaried class. So I will not debate that. However, my point simply is that expectations were different, and for more. As a consequence, there is deep disappointment, which is slowly building up into resentment, which will definitely affect votes in 2019 and the 3 upcoming State elections before that.
Do you want to be remembered for having won the admiration of financial analysts for financial prudence, particularly the foreign ones, and forever condemned for making NDA lose the polls?
Please do not dismiss this as some naive alarmist feedback – this is what the bureaucrats will tell you, primarily because election results do not affect them one bit – they will always remain in the corridors of power, no matter which party wins or loses.
If you walk the streets yourself, you will gauge the deep “let-down” feeling of the salaried class who are your most disciplined tax-payers.
So what is my suggestion – one very simple step.
Just increase Sec 80C limit by Rs. 50,000/- to Rs. 2 lakhs.
Of course, this will have a financial cost (albeit not too huge) but the resulting relief and joy it will bring to your “committed constituency” will change the entire perception about the budget and dramatically drown out the voices of the “congenital prophets of doom” who pretend to see not even one good point in the budget because it electorally suits them to paint a dark picture.
This simple move will finesse all these biased opposition voices and give a much needed boost to the morale of the people, of the NDA and, I believe, so also of the stock market.
Do consider this option – low cost but very high returns!