Budget 2008: Terrible, Historic, Sweeping, Election, or Election-oriented

I thought I must also write about my views on the budget 2008 presented yesterday. For senior citizens, the exemption limit has been raised to Rs 2.25 lakh. I don’t bother about enhancement of exemption limit at my age when I don’t have that high an earning. I don’t know how many of senior citizens who are retired are earning good enough money for paying taxes. It must be a miniscule percentage. Even after working for almost 39 years, though in private sector, many like me hardly get any significant pension earning. As such the prices of all the commodities of daily use have gone so expensive that many a times we are forced to think before buying some essential things too. Even many, and I am also one among them, do take the risk of major illness. The premium of medical insurance for persons above 60 years of age is either pretty high or the insurance companies don’t have anything for them. And the cost of hospitalization and treatment as well as medicines has skyrocketed. It may be cheap with respect to the cost in UK, or US but for a retiree like me it is exorbitant.

All the time I wish some finance minister will introduce a scheme in which the persons paying significant income taxes for 20 years or more will be covered by some respectable medical insurance scheme, at least for major hospitalization. However, I don’t think it to happen ever.

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