Sir — When one does not have substance in one’s speech, one tends to speak more. The budget speech was so unnecessarily long that the finance minister felt unwell upon reading it. Further, this budget showed, once again, that simplicity is not the government’s forte. The direct tax proposals have been needlessly made abstruse. They will discourage savings and upset plans like availing of exemptions under Section 24 for home loan interest, saving under Section 80C as well as donations under Section 80G. The disinvestment plans have anyway fallen flat for the year 2019-20. One thus cannot be too confident about the targets set out for the next financial year. Until consumer demand, manufacturing and liquidity improve, the economy will continue to stall. All in all, it is a rather dull budget.

Amit Brahmo,

Calcutta

Sir — Two different personal tax regimes will be in force simultaneously, according to the Union budget. One can opt for either based on one’s needs in order to maximize financial benefits. As per the new regime, 70 of 100 exemptions and deductions have been done away with. Interest on housing loan, for instance, has been excluded. As a result, those who were counting on substantial exemptions in tax owing to their interest on home loans will have to pay more tax in the next fiscal.

The proposal to partially lower tax rates for those opting for the reduced exemptions list will only benefit a handful of taxpayers. This plan may therefore prove suicidal. The economy is already facing a severe crisis. Doing away with exemptions will only deter people from investing in real estate, worsening demand and consumption.

Goutam Narayan Deb,

Calcutta

Sir — The budget attracted scorn from several experts; some even labelled it a major disappointment. There are, however, a few positive takeaways that no one can deny. Partial divestment in Life Insurance Corporation, the dilution of government stakes in IDBI Bank, a comprehensive vision for integrated rural development, introduction of the public-private partnership model in healthcare and investment in robotics and artificial intelligence are among the few things that the budget got right.

Rahul Chouhan,

Ujjain

Sir — It is evident from the disappointing budget that the Bharatiya Janata Party is only interested in taking care of the affluent and in implementing the Hindutva ideology. Even the so-called income tax sops are unlikely to bring any cheer given the complications that are sure to ensue in their implementation. Worse, the announcement of partial divestment in LIC has sent a chill down the spines of millions of policyholders who have invested in the trusted public company counting on a stable support for their family in case of emergencies. The only relief is the increase in insurance cover from Rs 1,00,000 to Rs 5,00,000 on deposits with banks. However, one wonders whether the Deposit Insurance and Credit Guarantee Corporation is in a position to settle the claim amount since most banks are saddled with non-performing assets which might finally lead them to liquidate, more so in light of the government’s reckless economic policies.

Although people have already started realizing their folly in bringing the saffron government to power again, they are more worried about what it will do in the next four years of its misrule.

Tharcius S. Fernando,

Chennai

Sir — Common people could not be more disappointed with the budget. The government has made no effort to create employment opportunities. In the meantime, basic necessities like food, clothing and shelter are getting costlier. Indians seem to exist only to pay taxes.

Asit Kumar Mitra,

Calcutta

Similar buzz

Sir — Indian TV serials are just as regressive in their depiction of women as the Pakistani ones mentioned in Mehmal Sarfraz’s article, “Myths soaked in poison” (Jan 30). Female leads are portrayed as compliant housewives nurturing their families even when they are playing roles like that of an icchadhari naagin or a housefly. The least one can expect is that the fly does not end up buttressing patriarchal norms. But in Indian TV soaps, the fly seems more interested in buzzing dutifully around the mother-in-law rather than in a sweet shop.

Asha Dikshit,

Calcutta