Sunday, 3 June 2012

RAISE REVENUE TO REDUCE FISCAL DEFICIT.

The present UPA-2 in general and Congress party in particular have become prisoners in the hands of India Inc.
The policies and programes of the government is being dictated by FICCI/CII & Chambers of commerce rather than the ordinary people who are the ultimate stakeholders of the country and the nations.Industrial lobbies are blackmailing the government under the guise of FDI/FII inflow it is nothing but a ploy to bring back their black money hoarded abroad.It is surprising that such seniors like Pranab Mukherjee and great economists like our Prime Minister surrender to the dictates of these self serving industrialists.whose only concern is to make profits and exploit the common man to make them richer
WHY THE PM & FM DO NOT TAKE THE ADVICE OF THE NOBEL LAUREATE DR.AMARTYA SEN INSTEAD OF IMF CRONIES LIKE RAGURAM RAJAN & MOTEK SINGH AHLUWALIA?


But for our public sector undertakings and public sector banks we too would have been in the PIIGS LIST.


In the name of policy paralysis Industrial lobbies are blackmailing the government to hand over the public sector undertakings at a very low price and make a killing later.IT IS NOTHING BUT LOOT OF THE NATIONAL WEALTH IN BROAD DAY LIGHT WITH ACTIVE CONNIVANCE OF THE GOVERNMENT


Our economy is not bad at all.Only the policies pursued by the government is wrong.We have all the resources and assets at our command to keep us strong.But the policies are favoring for the benefit of few and the wealth created are not distributed justly and fairly.Government and the Planning commission says that all those who earn more than Rs.32 per day is not poor.
Our GDP growth even if it is above 5% but less than 6% is not at all dismal since it is the second highest among all the nation both developed and developing.
During the global financial meltdown in 2008.all and sundry cried from the rooftops and said that we are not effected and our countries growth story intact.If we were immune from the 2008 crisis,why government gave such a huge stimulus to the India Inc. Why even after extracting such a huge undeserved stimulus was given,India Inc not performed.
So the dismal picture of the economy is a ploy to extract more concessions and exemptions from the government and make common and poor people sacrifice more to feed the ever increasing greed of the rich to become richer and poor poor.
Why such a big hue and cry over subsidies to the tune of around 2% subsidy?
Why there is no hue and cry over the revenue foregone of more than Ra.5 lakhs crore?
If we are in a economic problem and our budget deficit is increasing why government is not taking steps to increase revenue by taxing the rich and with all tax concession and exemptions extended to the rich?
By withdrawing all the tax concessions and exemptions granted to the industrialists and other sectors,will not the government stop borrowing programes totally?
Should the government grant tax concession by raising borrowings? The total abolition of borrowings will make the credit availability to the industrialists at cheaper rates
Are we not learn lessons from PIIGS countries how huge debt has pushed their country into near bankruptcy?
If all government borrowings stopped completely will not the government save to the tune of Rs.172000 crores by way of interest payments which will be sufficient to provide subsidies to both LPG & Diesel?

The first steps in simplification of the tax policy is to make all types of income whether salary,personal,corporate, capital gains,house property,wealth,dividend and interest as INCOME and must be taxed above Rs.5 lakhs without any exemptions or concessions or rebates.