With the new budget announcement from the FM Nirmala Sitharaman, it's clear that middle class people are screwed over again.
Although they have increased standard deduction by 25000 INR for the new tax regime, the people opting for old tax regime have no taxation benefits.
On top of that, they have now increased LTCG and STCG as well. This is ridiculous to be honest.
Everywhere I read (Threads, Instagram, Fishbowl, Reddit etc...), I can only see hatred towards the FM.
They had already killed the middle class people and now they are just stabbing them over and over again.
How many middle-class employees earn more than or up to 15 lacs every year? The new tax regime was a disguise to squeeze more from the middle class and with the new tax, you as an employee will only save INR 17500 under the new tax regime. Already the actual tax player in India constitutes around 2 percent and from that small percentage, this government has been squeezing money for about 15 years now. The Modi government was never friendly but they disguised themselves as Hindu saviors to get into power.
After destroying the crypto industry they have now come to the stock market. After the budget, the stock market went down and it went further down, in the meantime their IT cell has started promoting that after every 10 or 15 years the Indian stock market tends to fall which is natural. This is not the first time that their IT cell has misguided everyone they have been doing it since 2014. I have not seen anything unrealistic happening in India apart from the geopolitical events. Being a salaried middle class in a country like India is a bad option. It is better either to become rich and loot the government or become poor and live on government development policies for poor.
You just echoed mine and other fellow Indians voice.
Tax is not the problem as other developed nations too have taxes but we don't get anything in return for these taxes we pay for everything be it out salary or our investment or spendings. We don't get better governance and government employees who gets their salary from our taxes treats us like slaves and they are most corrupt. Apart from paying tax on every step of life we also have to bribe these officials for even smallest things.
We only get Hindu Muslim divide and riots in return, there is zero development and those who can afford to move out of India have already started migration in masses. The problem is still people vote for these hatemongers who don't know anything about economic or development and wins election by creating fear in people's mind, people should kick them out else India will become one of those countries ruled by dictators with absolute brutality and survival will become tougher.
Yeah, I went ahead with that thing. The current budget has really killed the real estate sector.
