The budget is a common man’s budget. Zero tax has been levied. But there are few issues. People from the footwear industry came to me this morning, saying they have to pay tax now on every product they sell.
The effective rate of the Krishi Kalyan Cess, however, will be lower than 0.5 per cent as the government will provide input tax credit for the cess, as against no input tax credit for Swachh Bharat Cess.