'Budget has nothing for the middle class'

The Trivedi family at their Santacruz residence. Pic/Sayyed Sameer Abedi

With the presentation of Budget 2019, a rustic understanding of finance-related issues is of further relevance now to everyone as the nation strives to become a three trillion dollar economy by 2020. Among the ones to know the pulse of the economy in depth, at both the micro and macro level, are those from the business community. In a conversation with three generations of the Asher and Trivedi family in their suburban home, mid-day got an insight into the implication and assessment of Budget 2019, presented by India's first full-time woman finance minister on Friday.

'We were expecting some major tax reforms but for the middle-class people there are no major or minor tax reforms. But, if the budget is making value additions to the nation at large, then we gladly accept it.'
Sandeep Trivedi, 55, Tax consultant

'In the education sector, the government proposes to introduce 'Study in India' programmes; this has great potential. I also like the idea of introducing inter-operable, One Nation One Transport card, which can also be used at ATMs.'
Sanket Trivedi, 21, Student

'The intention to make available facilities that will impart new-age skills in Artificial Intelligence, Virtual Reality, Robotics and Big Data are futuristic and will prove beneficial for the youth of our country in the long run.'
Devang Asher, 46, professional

'I like the pension benefits to three crore shop owners with an annual turnover of less than R1.5 crore. Also happy that finally the modern tenancy law will be given to states. Expected standard deduction to go up though.'
Nilesh Asher, 53, Businessman

'The current budget is a big disappointment. On the one hand, the finance minister thanks the middle class, but on the other offers them no sops or benefits. Also, fuel, which is the lifeline of any country, will become dearer by R1. So overall, we have nothing to be happy about.'
Madhavi Asher, 51, Counsellor/lawyer

'I am happy with the promotion given to MSMEs (micro, small and medium enterprises), but with the rising cost of living, we need more benefits for senior citizens in terms of IT and Healthcare. The minimum taxable limit for senior citizens should have been be R10 lakh.'
Suresh Asher, 83, Retired industrialist

'The increase in petrol price will lead to higher prices for day-to-day commodities, which are essential to run a household. Healthcare is another big worry, as very limited mediclaim is available post 70 years of age.'
Shobna Asher, 74, Homemaker

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