NRIs disappointed with union budget 2008

---

Expatriate Indians in the UAE express themselves

March 03, 2008

The Union Budget for 2008-09 Finance Minister P Chidambaram presented on Friday is populist ahead of elections but has left overseas Indians out of focus, according to expatriate Indians in the United Arab Emirates (UAE). "The budget is a populist one as can be expected before elections," Abbas Ali Mirza, president of the Indian Business and Professional Council (IBPC) of Dubai, said Friday.

According to a report by IANS, the IBPC organised a post-budget interactive session here, which was attended by top Indian entrepreneurs, businessmen and professionals. Terming the budget populist, IBPC vice-chairman and Pravasi Bandhu Welfare Trust chairman and managing director K Shamshudheen said the debt waiver for small and marginal farmers was a bad step.

"The Rs 60,000-crore debt waiver to small and marginal farmers is a disaster. The government should have instead aimed at increasing farm productivity. Now agriculture will be all about taking loans," Shamshudheen said. "Also, NRIs were nowhere in the Finance Minister's mind when he prepared the Budget," he said. "I think it is high time organisations like the IBPC approach the Finance Ministry at least three months in advance to draw his attention to NRI issues."

Bharatbhai Shah of Al Mustaneer Trading drew attention to the 12.5 percent service tax on air tickets bought outside India. "We NRIs are not asking for anything. But at least they can give us some facilities. Why should I pay service tax for air tickets I buy here in Dubai for my parents in India? What service am I getting," Shah asked. "We have been writing to the Indian government about this for long. They waived it for one year and then now again it is back," he added.

more snippets...

We appreciate your feedback, please write to us by using our contact form

 

 

 

 

 

 

 

 

 

---

NRIOL Search Comprehensive search page...
NRIOL Site Map Listing of what is contained in this site
Contact NRIOL Give us your feedback or report any problems