Mariyam Posted May 14, 2020 Posted May 14, 2020 9 minutes ago, motomaverick said: But that "some of the funds" is taxable income now. So I pay tax on something that was tax free till now, plus my Employer contributes lesser too on top of that. I don't get how this will benefit anyone. Yes it is taxable now. I guess that is the cost of that extra capital if you(figuratively) need it immediately. The idea behind this move is to enhance liquidity and hence drive you to make more purchases. To push people away from the buy only essentials mindset, perhaps. What I do not get is that the EPF is mandatory to employees who have 15k or more INR/ month as their income and if the firm they work with employs 20 (not sure) or more people.So the office boys and wad boys and such like are not 'beneficiaries' of this extra short term influx of cash. Neither are those working in small firms. What gives?
Singh bling Posted May 14, 2020 Author Posted May 14, 2020 Today looks like FM is presenting a budget https://www.jagranjosh.com/current-affairs/finance-minister-nirmala-sitharaman-economic-package-rs-20-lakh-crores-1589352799-1 Nothing substantial for migrants apart from free ration and one nation one ration card for immediate Covid help.
coffee_rules Posted May 14, 2020 Posted May 14, 2020 3 minutes ago, Singh bling said: Today looks like FM is presenting a budget https://www.jagranjosh.com/current-affairs/finance-minister-nirmala-sitharaman-economic-package-rs-20-lakh-crores-1589352799-1 Nothing substantial for migrants apart from free ration and one nation one ration card for immediate Covid help. What do you expect? Migrant workers have to taken care of by states. Centre has done what it could, plying trains and giving free ration. Migrants moving about without jobs have to be sheltered by states
Singh bling Posted May 14, 2020 Author Posted May 14, 2020 2 minutes ago, coffee_rules said: What do you expect? Migrant workers have to taken care of by states. Centre has done what it could, plying trains and giving free ration. Migrants moving about without jobs have to be sheltered by states Current situation require direct cash transfer. Nothing short of that will work. Most states are extremely struggling with finances . They can't do anything
Jimmy Cliff Posted May 15, 2020 Posted May 15, 2020 https://twitter.com/kaul_vivek/status/1260550932661768194 A sobering thread.
coffee_rules Posted May 16, 2020 Posted May 16, 2020 5 hours ago, Jimmy Cliff said: https://twitter.com/kaul_vivek/status/1260550932661768194 A sobering thread. GDP is not of the government, but of the country - its private and public institutions Government can only regulate and divert portion of it to people and businesses, it will be a communist government if it can own all wealth of the country and distribute it to people.
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