Last straw on Camel's Back

 Last straw on the Camel's back

The approach of the Government to  optimise revenue collection in varied forms including the cess and surcharge as a regular feature and  as a permanent fixture apart from service tax very widely spread (ET Dt 4/3/2016).affects badly the common masses more  than the high net worth individuals and this trend if not curbed early the chances are that the BJP will lose its grip among the middle class in particular. The savings of the community in banks have been on the decline as per the RBI's reports and with the Income tax rates unchanged for the middle class other than the tax relief announced at Rs 5000 instead of Rs 2000 earlier, the middle class gets squeezed perhaps beyond the imagination of the bureaucratic and political minds who frame the policies. Over and above all these, the proposed tax on EPF withdrawals is the last straw on the camel's back  disturbing the equilibrium of the middle class people's finances and mental peace.

T V Gopalakrishnan