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Budget effect: With cigarettes getting costly, Vikram Poddar thinks passive smokers will also be charged Rs 2 per min

More duties are to be levied on tobacco products.

ET CONTRIBUTORS|
Jul 06, 2019, 09.28 AM IST
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Agencies
​Vikram Poddar shares highlights of the Budget with a light-hearted twist.
Vikram Poddar shares highlights of the Budget with a light-hearted twist.
By Vikram Poddar

Highlights of the Budget with a light-hearted twist:

- Budget 2019 has allocated Rs 400 crore towards education institutions. The FM said that India finally has three of its institutions in the top 200 of the QS world university rankings. What they missed out was India’s no.1 institution, which is Whatsapp University.

- More taxes for the super rich in this Budget. An additional surcharge for people having income more than Rs 5 crore makes their income taxable at 42 per cent. Due to this, for a change, people from South Bombay are claiming to be from Andheri.

- The government is promoting purchase of electric vehicles by slashing GST rates on them as well as giving an additional rebate of Rs 1,50,000. Now you can expect your annoying roommate to ask you questions like, “Bro, Wagon R ka charger hain, kya? Patli pin wala.”

- The government has furthered its plans of boosting their ‘Startup India’ initiative by launching a TV channel dedicated to startups. In true startup fashion, the TV channel will not make any profits.

- More duties to be levied on tobacco products. Cigarettes have become so expensive that now they will be shared one by two. Passive smoking will also be chargeable at Rs 2 per minute.

- The government has imposed a TDS of 2 per cent on cash withdrawals above Rs 1 crore. So, now dance bars will start giving Paytm codes along with chakna.

(The writer is an investment banker-turned-corporate comedian and CEO of BoredRoom Comedy)

Budget Impact: Imported Books, Gold Jewellery, Cashews Costlier; Apple Gadgets, E-Cars Beco...

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Mind It!

5 Jul, 2019
'Make In India' is a cherished goal, said FM Nirmala Sitharama during her maiden Budget speech, and the sentiments truly reflected so.The 59-year-old minister batted for initiatives and policies by reducing import dependence and facilitating domestic manufacturers.While many things like seeds, nuts, fuel, gold, woollen garments have become expensive for middle-class Indians, new benefits made leather products and electric vehicles affordable.Here's a look at the items that got costlier and what became cheaper after Sitharaman's debut Budget.
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(Disclaimer: The opinions expressed in this column are that of the writer. The facts and opinions expressed here do not reflect the views of www.economictimes.com.)
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