The Union Budget's promise of an easier income-tax return process and the prospect of cheaper foreign tours got a thumbs up from many.
Several others, however, alleged that the budget lacked concrete measures to tackle unemployment and alleviate the distress in agriculture, manufacturing and other key sectors.
For many salaried individuals, the IT return form remains a complex maze. Many of them have to hire a chartered accountant or an income tax lawyer to file their returns.
"I tried filing my returns on my own a couple of times. But beyond a point, I had to give up. It is not simple at all," said a Salt Lake resident, who heads the marketing team of a private management institute.
On Sunday, Union finance minister Nirmala Sitharaman promised taxpayer-friendly changes to simplify the income tax return (ITR) process, reduce compliance burdens, and minimise litigation.
"The New Income Tax Act, 2025, will come into effect from April 2026. Also, the simplified Income Tax Rules and Forms will be notified shortly. The forms for the purpose are redesigned for easy compliance of ordinary citizens," said a PIB release on the summary of the budget.
Subrata Guha, a Behala resident who teaches at a government school in South 24-Parganas, has income from other sources, like house rent. He gets his return filed by a lawyer. "I will wait for the formal notification. If the process actually becomes simpler, then it will be of great help," said Guha.
The budget has also proposed a reduction in the Tax Collected at Source (TCS) on foreign tour packages to a uniform 2 per cent, replacing the previous higher slabs of 5 per cent and 20 per cent.
"It is a welcome step, expected to incentivise more foreign trips," said Anil Punjabi, chairman of the Travel Agents Federation of India (TAFI), eastern region.
Rajarshi and Tulika Roy, a couple in New Town who make at least one foreign trip every year, were elated. "We are planning on a trip to Scandinavia in May. This is great news for us," said Rajarshi, a senior project manager with a tech services company.
In addition, the budget has introduced a specialised fund of ₹10,000 crore to support the growth of small and medium enterprises, a decision embraced by entrepreneurs in the city.
"Loans will become easier. It also supports new technology like AI, data centres, and semiconductor manufacturing. Overall, the budget aims to make business simpler and more supportive for entrepreneurs," said Rajarshi Nag, one of the founders of Drivers4Me, an app-based driver aggregator.
Digbijoy Chakraborty, managing director of SunEco Tech Ventures, which provides a range of eco-friendly products, also welcomed the proposed corpus but said he would wait for further clarity.
“The statement is pro-industry. But I am waiting for more clarity on the disbursal mechanism. In such cases, PSU banks are the usual disbursal agencies,” said Chakraborty.
Sunetra Das, who works in the development sector, found the budget wanting in many aspects.
“The main problems India now faces are a lack of jobs and the shrinking manufacturing sector. This budget had nothing to tackle these problems,” she said.
Abhilash Viswanath, a senior employee in the compliance department of a private bank, said he had expected more investment in the education and healthcare sectors. “The share of the GDP that is being spent on these sectors has gone down consistently. These sectors are screaming for attention,” he said.
The budget has proposed a renewed emphasis on linking education with employment, with an aim to strengthen the service sector as the driver of India’s youthful population.
Anirban Bhattacharya, another senior banker, said he “had expected more allocation for the agriculture sector”.