21 September, 2020

Smell The Coffee

Venture out, see the risk, make informed moves and savour the market's rewards

Swapan Nayak
Smell The Coffee
George Bernard Shaw once famously said that newspapers had seemingly lost the ability to discriminate between a bicycle accident and the collapse of a civilisation. Media and middle-class Indians' response to Budget 2005 and many of its path-breaking proposals appear to reflect a similar incapacity to come to terms with the momentousness of the Big Idea—and an eagerness to focus rather more on mildly irksome micro-details. Without any risk of exaggeration, the tax reform measures unveiled by finance minister P. Chidambaram, which are at the heart of this year's budget proposals, will profoundly influence every aspect of your personal finance and everlastingly alter the way you manage your money.

It's not just about how much less tax you will fork out next year, how much more you will take home, where you will invest, and how much more affordable that imported home theatre system will get: important as these considerations are, even a minor tinkering of tax rates and duties would have influenced them. What distinguishes Budget 2005 from these "bicycle accidents" is that it...


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