Stretching Their Budget

Of their monthly income of Rs 75,000, Kumar and his homemaker wife Manorama set Rs 65,000 aside for their household needs. Much of this goes towards the Rs 18,000 EMI they pay on their Rs 20 lakh home loan, the Rs 12,000 school fees for their two children and the remainder on groceries, phone and power bills and fuel. It leaves the couple with very little to save.

Of late, their expenses have risen by 30 per cent. “We need Rs 1,000 every day just to meet our daily household expenses,” says Kumar. The couple have cut down on all unnecessary travel, even if it means not attending a wedding or social function, or not buying clothes during festivals. Even watching a movie in a theatre has become a luxury. Kumar can afford to buy a car, but given the rising fuel costs, he has decided to retain his Bajaj Platina motorbike. Kumar wants petrol to be brought under GST so that its cost can come down. He also laments that the past few budgets have not accorded any tax relief to people like him. They want our votes but don't address our woes, he says.