The Hindu : Fingers crossed over Union Budget

Online edition of India's National Newspaper
Thursday, Feb 27, 2003

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Fingers crossed over Union Budget

By Our Staff Reporter

NEW DELHI FEB. 26. Amid widespread expectations that the Union Budget-2003 would be populist and easy on the general taxpayer, a public opinion poll among Delhiites on "Pre-Budget 2003 -- Public Expectations and Perceptions'' conducted by a market research group has revealed equally widespread fears and concern that "the Budget will increase their tax burden rather than reduce it''.

The survey, conducted by Shyam Vyas Marc among 550 Delhiites, has only 38 per cent of them responding that the Budget would reduce their tax burden. While 19 per cent were uncertain, 43 per cent believed that the Budget would increase their burden.

Last year's Budget is fresh in the taxpayers' perception and only 29 per cent believe that the new Budget would not be harsh on the middle class. Thirty-eight per cent believe that the middle class would be hard-pressed while 33 per cent are uncertain.

A majority -- 63 per cent -- hold the belief that whatever be the nature of initial budgetary proposals, it would require many corrections. Forty-eight per cent believe that the new Budget will correct/redress some of the vastly "discriminatory'' and "unfair'' provisions of last year's Budget such as blanket denial of Standard Deduction and Section 88 benefits to honest taxpayers with incomes above Rs.5 lakhs an year.

The taxpayer wants to hold on to his verdict on whether the Budget would be people-friendly or anti-people until it is unveiled by the new Finance Minister, Jaswant Singh. While 63 per cent of the respondents said they were uncertain, 27 per cent expect it would be a people-friendly Budget. Only 10 per cent think it will be anti-people and will hurt them.

There is a strong undercurrent of a positive general belief associated with the Budget, with 77 per cent stating that it would help economic growth. While 4 per cent said it would not do so, 19 per cent were uncertain.

Opinion is divided over whom the Budget will benefit the most. Asked if it will benefit the common man, 48 per cent of the respondents were uncertain. While 28 per cent said it would benefit the common man, 24 per cent said it won't.

Fifty-four per cent of the respondents felt that the Budget will be tilted in favour of industry. Interestingly, only 39 per cent believe multinational companies will benefit the most.

There is a strong feeling that the Budget would potentially be beneficial with only 8 per cent stating that it will not benefit anyone. While 25 per cent were uncertain, 67 per cent said it would be a useful exercise.

Asked what they thought of Mr. Singh, 65 per cent said he is an able Finance Minister. While 20 per cent said they were uncertain, 15 per cent disagreed. While 49 per cent believe Mr. Singh is a "caring man'', 50 per cent said he "understands the difficulties of the common man''.

It seems the Prime Minister, Atal Behari Vajpayee, has bounced back in the ratings game with 79 per cent agreeing that they have faith in his leadership.

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