Tuesday, 26 February 2013


Dear All,
Since we are approaching towards the one of the most important budget in recent time, and as always i do not expect any big bang reform coming in from govt as this is the last budget before election. This time we are in serious trouble on macro economic front and growth is slowing down to lowest and inflation at its peak. With due regarsd to experts I am unable to understand that why PC is so much worried abt the fiscal deficit where as we are growing economy where we can bridge this gap in no time provided we have serious opportunity to spent the money. I have been thinking abt it for quite some time and have some suggestion...

Personal Income Tax -- PC must abolish all taxes till 6 LACS P.A. // 15% till 12 Lacs // 20% till 25 Lacs 30% till 50 Lacs and 45% above 45 lacs. This will enhance the base on income tax payers and give some money to end user to spend. Abolish all tax saving scheme including conv etc etc as companies are trying hard to park more money in this segment. Divide all salary in only 02 parts Basic and HRA, this will be long term shot for salaried people as good pension and more coveres while they retire, also it will ease the accounting process. Impose one tax on all FMCG segment (and divide this tax between centre and states) this will reduce corporate specnding on govt officials and lot of saving for everyone and will bring in more tranperancy in system. Barring banking insurane and OMC (oil marketing marketing companies) sell everything and govt must focus on social spending as it is not the govt job to run the business. This is high time that we have dedicated petrolium policy, means central govt must impose only one tax on oil imports and no other tax , give dictat to OMC to expand at good speed, this way they will generate employment, present tax status shall be changed and prices of petro products shall be lowered, this will result in low income for govt in first 2-3 years but later this will be the biggest revenue earner for the govt, and govt must ban entry of private players in distribution. Lower revenue for early years shall be compensated by lower inflation.
In end I would like to see technology invasion in all govt department which will ensure the speedy execution of govt policies and more benefit to people who deserve it.
Food article -- I would like to see complete ban on wheat rice and Sugar export (these export contributing not more than 3K crore which is nothing for Nationa like India) instead give permission to private players to purchase the food grain from farmers as per their wish this will create storage capacity which states have been failed to do for the last 65 years.
More to come and tired of typing... hopefully other segment shall be covered tomorrow.


No comments:

Post a Comment