Saturday, December 28, 2019

Suggestions given to Finance Minister for 2020-21 Budget

I gave the following suggestions to the Finance Minister for the Budget 2020-21. You can also give suggestions from

I suggest to link income tax slabs and exemptions with inflation.

The income tax slabs have not been increased in proportion to the inflation for a long time. Please link with inflation, so that it would be fair to the people.

Section 80C also has not been increased for a long time. Please link that also to the inflation.

The limit of the food allowance that a company can provide to its employees is set to Rs.50. That was decided more than a decade back and it was not revised till now. You might be knowing that with Rs.50, you cannot get a meal in any decent hotel. Please revise that and link that also with inflation.

Few suggestions on the Indian railways.

Open premium tatkal an hour before the tatkal and make them available at the highest price. The tickets that are not sold can be made available as usual after the tatkal opening. You can include normal tatkal tickets also in the premium tatkal when it is opened an hour before.

Provide waiting list for the premium tatkal at the highest price. If there is any cancellation, first clear the premium tatkal.

By this, during peak time, Indian railways can get Maximum revenue and also those who can afford can travel. As of now, it is becoming pure luck for everyone who is trying for tatkal.

Provide some refund to the cancellation of the confirmed tatkal tickets. Now, there is no refund for the cancellation of the confirmed tatkal tickets, and there is no incentive for the people to cancel them, when they are not going to travel. If we provide small incentive to cancel the ticket, then we can confirm another ticket and railways would get money for that. If you return only 20-30% of the ticket price for confirmed tatkal, it would generate lot of money.

Since, IRCTC is no longer completely owned by Indian Railways/Government any more, it is better to give licensing to multiple private players for booking tickets online with some license fees. With that, Government can get significant money, and also, it is fair from the government's perspective to treat all non-government organizations equally. Now, it is unfairly giving full license to one non-government organization (IRCTC).

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