ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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An Election-Year Budget

Arun Kumar The credit for the generally muted reaction to the 1984-85 Budget must go to the finesse of the budget drafting exercise which becomes obvious the moment one takes a careful look at the Budget's key provisions. Cuts in personal taxation have been granted with a view no pleasing the middle class. However, the real benefits of these high visibility measures would be enjoyed by the rich. Excise duty cuts on certain items have been suggested on the grounds that this would help to stabilise or even bring down prices, but the more important reason appears to be to give a boost to the sagging demand for the products of selected industries. Similarly, the Finance Bill appears to contain a number of measures to check evasion and avoidance of taxes. However, all these measures taken together will hardly touch the proverbial tip of the iceberg.

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