MY BUDGET: Arun Vadehra

What do you think of the Budget?
The budget is an amazing one for the the all-inclusive growth of the country. There’s a very clear road map to cut the country’s financial deficit over the next three years. Sectors such as education, healthcare, social security have also been addressed in an extremely positive manner. The decrease in the personal income tax rate will give an impetus to consumer demand.

What were your expectations?
I had two primarily. One, the customs duty of 15-17 per cent on works of art. If I buy a Husain painting abroad, I don’t see why I have to pay customs duty to reunite it with India. And two, VAT. Art works attract VAT all over the country except in West Bengal where it is classed as “handicraft”, which is how it should be since art is made by hand.

Have these expectations been met?
None of these concerns have been met because the art industry, especially the entrepreneurial side is confined to three-four people who don’t go to the finance ministry and lobby the way the cement or transport industries do.

How has the Budget affected you personally?
Personally it has pleased me as the income tax rate has been reduced.

Arun Vadehra, Vadehra Art Gallery