TIME IS NOW !

Quoting from a news-report ( HT / 02 Feb 2016 ) :

At a recent World Economic Forum summit in Davos, Shri Arun Jaitley had said , India needs some additional growth engines , indicating that the focus would shift to reviving PRIVATE investments

Senior Govt officials said," The incentives could be in the nature of TAX CONCESSIONS "

DIPP Secretary , Amitabh Kant added ,  " For the Indian economy to continue to grow, it has to be on the back of DOMESTIC  PRIVATE  SECTOR  investments ..... for a continuous robust growth , investments from the PRIVATE  SECTOR , have to be ramped up "

Let us not keep fooling ourselves  !

Prey  !  From where do the so called PUBLIC SECTOR investments come from ?

It is PRIVATE MONEY  !  Just re-routed by governments , using yours and mine tax money  !

That is, whatever gets left ( of that tax money ) after expenses of running the government

Apart from that ,

*  Re-routing tax money through PUBLIC SECTOR investments, is a very slow / cumbersome process

*  Persons who manage those investments are rarely made " accountable " for profits / dividends

*  Since tax-payers do not get immediate benefits from such re-routing , it gives rise to tax evasions

*  Tax evasions lead to generation of BLACK MONEY and CORRUPTION

And no political party would advocate " raising of taxes " so that , on 29 Feb 2016 , Shri Jaitley could allocate

*  ONE TRILLION DOLLARS ( Rs 70 lakh*crore ) each to , Piyush Goyal / Suresh Prabhu / Nitin Gadkari / Ravi

    Shankar Prasad / Uma Bharati / Venkaiah Naidu / Rajiv Pratap Rudy etc

and

*  TEN TRILLION DOLLARS each to , Manohar Parikar ( Defense ) and Nirmala Sitharaman ( Make in India )

WHERE  CAN  WE  FIND  THAT  GROWTH-ENGINE  ?

In my email ( 08 April 2014 ) , I wrote to Shri Narendra Modi :

*  Create Infrastructure SPVs

*  Allow people to invest in these directly and make " returns ( interests / dividends ) " , tax free

*  Amnesty Scheme for funds invested in such SPVs ( no questions asked as to the source of funds invested )

*  An " INVERSE  TAX " regime for Personal Income Tax  ( with decreasing tax-rates for each higher slab )

Later emails recommended :

*  Encourage CREATION of WEALTH by total abolition of Personal Income Tax

*  Decreasing Corporate Income Tax , linked to number of permanent employees

I hope Shri Jaitleyji does not treat these as POPULIST measures and keep tinkering with  80ccg /  80dd / 80ddb / 80e / 80g /80gg /80ggc / 80tta  / 80u / 24b ....etc  !

Time now is for embracing   TRANSFORMATIONALIST   measures

It is time for the Butterfly to emerge from its cocoon  !

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hemenparekh.in / blogs

03  Feb  2016

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Make    Yourself    Heard

Dear Visitor :

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