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Bluelagoon Side Hero Username: Bluelagoon Post Number: 6522 Registered: 12-2013 Posted From: 183.82.194.189 Rating: N/A |
Further, 400,000 people (with incomes more than Rs. 20 lakh, and constituting 1 per cent of the tax-base) account for 63 per cent of the income taxes collected from individuals in an economy with a tax paying base of 3-4 crore people As per 2013-14 Union Budget, personal income tax has been budgeted at Rs. 2,47,639 crore for the current fiscal year. This, as also in the past years, accounts for about 23 per cent of the total revenue receipts of the govt. The total gross tax revenue of the govt. (including the state's share) stands at about Rs. 12.4 lakh crore (budgeted) in the current fiscal SO 35% of income tax WHICH IS 85000 CR PER YEAR ni sacrifice chesthe people need not pay tax who r getting less than 20 lakh income ALL THIS TAX SAVING MONEY will be immediately thrown in to economy which is good rather than WASTE FUL SUBSIDIES which does no good like 1 rs kg wheat and rice | ||
Bluelagoon Side Hero Username: Bluelagoon Post Number: 6519 Registered: 12-2013 Posted From: 183.82.194.189 Rating: N/A |
In a wide ranging interview with ETV Rajasthan, in the program Aamne-Saamne with host Dr. Anita Hada Sangwan, Dr. Subramanian Swamy was his erudite self as he listed four things that he would do, if he were to be the Finance Minister: 1.Abolish Personal Income Tax – To boost India’s economy, the government should do something that immediately has a positive effect on people’s mindset and that would be the step of abolishing Personal Income Tax. The fiscal fallout of this can be managed in many ways, including auction of Coal mining, Telecommunications Spectrum etc. 2.Simplify Excise Duties – There are about 2788 commodities on which Excise duties are levied today. Of these, the government gets 90% of the revenue from the top 21. Therefore simplify the Excise duties, remove the 2767 items and in the remaining 21, make it standard for each commodity (i. e. do not have sub-classification e. g. Fiber/ Cotton/ Rayon etc.) 3.Enable Agriculture in India – India is one of the cheapest producers of Agriculture based products. The Government should encourage this sector by making it easy for farmers to store/ ship/ process goods they make. India is one of the few countries in the world that allows agricultural production year round and the government should take steps to ensure that this is enabled to the fullest extent. It may need India to engage with the rest of the World in WTO by rationalizing tariffs etc. 4.Foreign Direct Investment (FDI) – Allow FDI only in those projects that come with technical know how. Retailers such as Walmart, if allowed, will obliterate the small Mom and Pop stores in the country because of the lower interest rate that they enjoy in the United States. He added that Prime Minister Narendra Modi has a definite plan in his mind in terms of how he wants to approach India-Pakistan relations and that the country should give him room to execute it rather than scrutinizing and second guessing his every move. Answering to a question as to whether he was disappointed about not being a part of the Cabinet, he replied that he neither asked for it nor wanted it and therefore there is no question of being disappointed. Dr. Swamy said that for the year 2016, his Trishul of initiatives will be Ram Mandir, National Herald Case and Sunanda Pushkar. On the issue of Rahul Gandhi’s British citizenship issue, he stated that Rahul Gandhi himself has stated his British Citizenship in his filings (he was the Company Secretary) and therefore knew fully well what he was doing. 1.Abolish Personal Income Tax – To boost India’s economy, the government should do something that immediately has a positive effect on people’s mindset and that would be the step of abolishing Personal Income Tax. The fiscal fallout of this can be managed in many ways, including auction of Coal mining, Telecommunications Spectrum etc. 2.Simplify Excise Duties – There are about 2788 commodities on which Excise duties are levied today. Of these, the government gets 90% of the revenue from the top 21. Therefore simplify the Excise duties, remove the 2767 items and in the remaining 21, make it standard for each commodity (i. e. do not have sub-classification e. g. Fiber/ Cotton/ Rayon etc.) first two points super amam okati economy boost inkoti TRANSPARENCY IN SYSTEM AND REDUCES CORRUPTION |