Impact of Budget 2011-2012 on Students

I know it has come in quite late, but anyway, here is an article which talks about the impact of the Budget 2011 - 2012 on the students fraternity.

The Union Budget for the year 2011-2012 which was announced earlier this week has left the people wondering whether to rejoice over the revised tax slab which gives them a sort of a breather or sit

and worry about the rising prices of essential commodities and luxury items alike. Like all Budget presentations, this year’s Budget too has some advantages while at the same time posing some

disadvantages.

With a change in the tax slabs and prices of various commodities and goods, the difference in the spending power of individuals who fall into the following broad categories of working class, senior

citizens and students will vary.

There will be a definite impact on the students due to the increases in the prices of stationery items which forms an integral part of a student’s life. With the increase in the prices of stationery items, it

becomes increasingly difficult for a student to limit his consumption of pen, paper and other essential study resources. This also adds to the monthly expenses of the student thereby imposing restrictions on

their spending capacity as many students are forced to utilize their pocket money in the most economic way possible while at the same time using the same money to enjoy.

The major point of worry for the students will now be whether to buy their textbooks or get them photocopied as the printing paper used for such purposes will also see a rise in the prices. It won’t come as a surprise if more students are found lined up near photocopy machines bargaining for the Xerox rates rather than at bookstores buying the original prints.

Another problem faced by students is when they stay in hostels or PG accommodations. Students are often forced to stay in hostels due to the fact that they want to study in ‘excellent’ colleges which are scattered across the length and breadth of our country. In such circumstances, when the food is bad, they would naturally prefer eating out to eating the bad food and getting into health complications. So, what this year’s Budget implies to such students is that they would be spending more on things like getting ready to eat food from outside and also eating out in restaurants.

The next big problem faced by students is the issue of wearing branded clothes however costly they may be. This is exactly what will happen to the extremely brand conscious section of students who will have to shell out more than previous times for the same brand of clothing that they used to purchase before. This is due to the fact that the prices of branded clothes have drastically risen, thanks to the Union Budget of the year 2011-2012. While it is going to be a tough choice to make for the students over their clothing’s brand choices, it surely comes as a boon to the owners of branded clothes who will rake in a good percentage of profit this time around.

The 2011-2012 Budget has surely brought in changes to the Indian Economy and the student community in more ways than one. What is to be seen is how well the students adapt to change in their spending patterns as also their lifestyle! They surely need to give a thought on Saving and Splurging!