Singapore budget airliner Scoot gets its first 787.

Source: CNA

This is good and I must admit, I love the Scoot Biz class any day compared to the cattle class which I am used to travel on official duties. Thanks to 'cost cutting' of enterprises, and 'profit' of airline industry, we end up with comparing 18" vs 18.5" seat width, or 2" difference in pitch. I can see the discussion in lounges, about how Asiana 21" width is great, or SQ 32" pitch.

Scoot is a bit generous and gives 38" pitch and 22" width which is quite comfortable and at the same prices of what other economy fares are at. So for a trip to Perth or Sydney this makes more sense.

With dream liners (I enjoyed my journeys to Japan on ANA few times except their horrible seats) I have to say the overall experience going to be much better.

They are flying to Perth from this thursday and wish to see more 787 in other routes too.. 

India Budget 2013 - Making fun on international travellers with antiquated laws on Gold

You may have seen my views on the dated laws of India here. So Finance minister became sympathetic(?) and generously increased the duty free gold limit.

So now a male passenger can carry Gold worth INR 50,000 or INR 100,000 if it's female passenger. So India allows people(A country with extremely Gold obsession) to travel with 15 Grams or 30 Grams of Gold.

The problem with Indian laws is it still thinks as if we are in 1940's or 50's. It's more like a pseudo socialist policies that's killing the economy. The babu's think that by creating this kind of laws, they are benefiting the poor. Reality is this is where the problems happening with middle class and the masses are getting frustrated. Gov itself gives many means to make money via corruption.

Would be interesting to see how it'll end up when the Minister travels with his family.

Image Source: The Hindu

Income Receipts (Budget) - Singapore vs India

Source: singaporebudget.gov & India

Here is a small chart showing the receipts breakdown. I've used 2012 numbers (may be will update with 2013 after Indian budget) but the % terms gives us why Singapore is doing a great job.

It is about the coverage of the tax umbrella and not to depend on borrowings.

Singapore is considered as a "low tax nation" and the taxation is pretty low compared to India. Be it the individual income tax (max 20% vs 30+%; but reality is around 10% vs 30%); Services tax (7% vs 15%); Corporate tax. Whatever we say India is way higher compared to Singapore in terms of tax rates.

Then why the revenues are low compared to Singapore? Answer lies in the coverage. :)

India Budget 2012 - NRI / Overseas Indians Concerns

Like many millions I was eager to hear some good news so I don't have to "BRIBE" the babu's to carry my laptop+ipad+iphone through Customs in India.

Based on law, any passenger with min 3 days overseas stay can carry a laptop, mobile phone + 25,000 goods without paying duty. But the tricky part is "based on law" and it doesn't work in India. The Customs officer simply asked me that iPad costs more than 50,000 based on price in India so I have to pay the penalty @ 35%.

I refused but as many of you know there is no way you can get over them without 'paying'. I tried my best before I gave up. 

There are many such similar cases experienced by my friends, business travelers to India. No wonder people prefer to travel to Thailand, Philippines, Indonesia or even African nations but when you say India you can see the raised eye brows, unspoken "No, No, Nah, Nah's...

Anyway, this budget I was hoping that the Government can make it legalize to bring electronic devices for personal usage & increase the duty free limit to 50,000 or 100,000 which is not really a lot of money if you are a business man flying overseas.

The outcome is increase to 35,000. This is worse compared to past based on recent downfall of "INR". Rupee lost it's value by more than 15%. So if we see in USD terms, in the past you could bring approx USD 555 worth goods. Now it's only USD 490. :(

There was a new "tax law" proposed which gives the power to Tax his/her overseas income if the NRI/OCI stays in India for more than 60 days in an year. Imagine what would have happened if this becomes a law.

In a way India is trying to push it's own citizens not to visit their own home country for business or family visits. 

So imagine you are making 100,000/year and paying your taxes in your host country. For business reasons you traveled to India & stayed for 30 days; and for family visits another 30 days. That's it. The proposed law wants you to pay tax for 100,000 in India @ 35% rates.

Fortunately this was mooted for now but we won't be that lucky in near future. So my dear fellow country man. Prepare for this...

Singapore budget 2011

First time in my life I am waiting for the budget speech. I never waited so eagerly to see the ministers opening the sealed pack.
I hope the Gov would reduce the burden on residents by either reducing the tax bracket or by increasing the deduction limits. A lot of people think Singapore tax rate is one of the lowest in the world. Its true on the surface but when we look in to the details we'd know the fact. For example, when I was in India (with 30% tax rate) I never paid more than 10% of my savings thanks to various deductions. But in Singapore I often end up paying more than 20% of my savings.
Hope to see some relief..

EDIT:

Wooohhhoooooooo....Here goes the summary and dear minister, thanks for fulfilling some of my wishes :)

Good
* Personal income tax rebate of 20% (capped at 2000) for FY2011
* Rate cut up to 120,000 from FY2011
* No more TV lic
* Increase in employer CPF contribution (additional 0.5%)

Not so good


* CPF contribution limit increased to 5,000. (If you are earning 4.5K+ then your paycheck is reduced by100/month and including bonus it'll be reduced to a max of 1,650/year)
* No 'tangible' benefits to parents (may be I don't see the benefits given very useful)


Overall it's average budget before 'election' year and i fully support the decision of putting back the $4billion in to reserves. It's good thing to do..