February 2, 2021

7 min read

I once hosted a called Pessimists Archive. It gained a large and loyal listenership and got lots of media coverage. That success helped me ignore a problem I knew about but just wished would just go away:

The show’s name was turning people off.

I first heard about it from fans. They’d share the show with friends, who would refuse to listen. “It sounds like a bummer,” the friends would say. This was bad, because the show is not a bummer! It’s a fun, optimistic show about how naysayers throughout history are proven wrong! But what could I do? The name was the name.

I am the editor in chief of Entrepreneur, and Ialways tell people that is opportunity. But when it came time for me to change, I was afraid. I pushed it off. But recently, for reasons I’ll explain below,

In the ‘pandemic Budget’, presented in a year that saw many losing jobs or facing a pay cut, there was widespread hope that the Finance Minister (FM) would offer some relief to the middle class by way of tax rebate. That did not happen. At the same time, the wealthy were fearful that the government might impose additional taxes on capital market gains, increase the surcharge on taxpayers in the higher-income brackets, or even reintroduce the wealth tax. Those fears proved to be unfounded as well.

However, there are many changes in the Budget that will affect your financial planning. Business Standard explains:

Employees’ Provident Fund (EPF): Until now, EPF enjoyed exempt-exempt-exempt (EEE) treatment (besides Public Provident Fund). In this Budget, the FM has restricted the tax exemption on interest income earned from this scheme to employee’s contribution of Rs 2.5 lakh.

The Centre on Monday imposed an agriculture infrastructure cess on a range of items, including petrol, diesel, gold, and alcoholic beverages, up to a 100 per cent, in a move that aims to further boost farm infrastructure.

“There is an immediate need to improve agricultural infrastructure so that we produce more, while also conserving and processing agricultural output efficiently. This will ensure enhanced remuneration for our farmers,” said Finance Minister Nirmala Sitharaman, while proposing an Agriculture Infrastructure and Development Cess (AIDC) on a certain items.

According to the Budget documents, AIDC of Rs 2.5 per litre has been imposed on petrol and Rs 4 per litre on diesel. However, this cess, will not put additional burden on consumers, explained the minister. “To ensure the imposition of cess does not lead to additional burden in most of these items on the consumer, the basic Customs

analyses the movement of stocks and gives key reasons behind it.

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