Though Finance Minister may find it difficult to offer a balanced budget for the nation, home-makers are doing that tough job at home almost every month. Given high inflation in recent times in consumer goods there is not much money left in the hands of the home-maker and still she has to ensure to make the ends meet.
On the one hand the prices of goods and services are on the rise and on the other there is a steep taxation in place, which amplifies the inflation- reasons the economists at home. They want the finance minister to reduce taxes on essential commodities and cooking gas.
The Finance Minister should also invest significant amount of money in infrastructure facilities and warehousing facilities to ensure that food and vegetables can be stored properly and there won't be sudden shortages leading to spike in prices. Lower prices mean more money in the hands of the home-makers.
The savings so made needs to be invested and there are not many investment schemes home-makers are offered exclusively. Some schemes are too complex to understand and not backed by government. Bharat Mahila Bank was formed in November 2013 with an objective to empower women financially. However there is a need to introduce easy and affordable investment vehicles for women that offer exposure to various asset classes such as equity, gold, real estate to name a few. These investment options should also have favourable tax treatment so that the post tax returns in the hands of the home-makers remain attractive.
Home-makers are also emphasizing on the need of a robust education system for their children. There is a need to offer more tax-breaks on the school fees paid by the parents for their children under section 80C. Extant limit is set at Rs 1.5 lakh. This can be hiked to Rs 2.5 lakh.
Comments
0 comment