Saturday, October 31, 2020
Home Opinions Dear Arun Jaitley, just take this one step to make the salaried class happy

Dear Arun Jaitley, just take this one step to make the salaried class happy

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hemenvarma
Hemendra Kishore Varma is an alumni of IIT, Kharagpur and IIM, Ahmedabad. Has close to 45 years of working experience of which the first 15 years were spent in the industry with Voltas G. Claridge, and finally with Jenson & Nicholson as GM – Manufacturing. In 1987, started his management consultancy activities in the areas of Operations Management, MIS and Organisation & Human Resources Development. Has a number of published articles in newspapers and journals like Economic Times, Financial Express, Business Standard, Indian Management, Indian Express, Management Review, Himmat, HRD Newsletter etc. Founded The 5S Institute in January 2005. This is India’s (and, indeed, the world’s) first institute dedicated to providing training and implementation assistance in 5S. Has conducted over 50 Certification Programmes and there are close to 1100 Certified 5S Practitioners in India, today.

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!

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hemenvarma
Hemendra Kishore Varma is an alumni of IIT, Kharagpur and IIM, Ahmedabad. Has close to 45 years of working experience of which the first 15 years were spent in the industry with Voltas G. Claridge, and finally with Jenson & Nicholson as GM – Manufacturing. In 1987, started his management consultancy activities in the areas of Operations Management, MIS and Organisation & Human Resources Development. Has a number of published articles in newspapers and journals like Economic Times, Financial Express, Business Standard, Indian Management, Indian Express, Management Review, Himmat, HRD Newsletter etc. Founded The 5S Institute in January 2005. This is India’s (and, indeed, the world’s) first institute dedicated to providing training and implementation assistance in 5S. Has conducted over 50 Certification Programmes and there are close to 1100 Certified 5S Practitioners in India, today.
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