Daily headline that caught attention this morning, 'Rupee appreciated to a nine year high' of (dollor equivalent) to 41.90. Well that's an achievement, given the stability of government that indeed is. Centre reported inflation rate closing end of March to 5.74 against high of 6.49 previous quarters. GDP (Gross Domestic Product) has been dwelling over 8 for the last year and RBI (Reserve Bank of India) is boasting of cash reserves to the tune of 140 billion US dollors!!
YET my cost of living is high. Very high. Over past year cost has been increasing YoY by 20% which means my montly expenses for every hundred is 120 now. For people dwelling in Bangalore, state goverment of Karnataka imposes maximum sales and service tax as compared to any other state. Introduction of VAT (Value Added Tax) was to reduce levels of commission from goods producer to consumer and pass that benefit to consumer which is still at large. Isn't it state administration's responsibility to ease tax burden when revenues have stabilised? Is it not centre's responsibility to reduce cost of living for common man? If it were the case, common man is bound to save more and that be with FIs (Financial Institutions). How fare is it to tax only the salaried lot... why not make everyone pay tax. To top all this off, defence eats up more than 3/4th of revenues unupposed. I'm surprised nobody asks what happens to that money.
YET my cost of living is high. Very high. Over past year cost has been increasing YoY by 20% which means my montly expenses for every hundred is 120 now. For people dwelling in Bangalore, state goverment of Karnataka imposes maximum sales and service tax as compared to any other state. Introduction of VAT (Value Added Tax) was to reduce levels of commission from goods producer to consumer and pass that benefit to consumer which is still at large. Isn't it state administration's responsibility to ease tax burden when revenues have stabilised? Is it not centre's responsibility to reduce cost of living for common man? If it were the case, common man is bound to save more and that be with FIs (Financial Institutions). How fare is it to tax only the salaried lot... why not make everyone pay tax. To top all this off, defence eats up more than 3/4th of revenues unupposed. I'm surprised nobody asks what happens to that money.
Incidentally yesterday TCS reported this years average salary reviews to be 11.24% upwards. Well, thats not going to make all of cost. Have you had your yearly appraisals? Mine is done too, waiting for results; fingers crossed :-D
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