2019 is not a good year for the BJP
2019 does not seem to be a good year for the BJP as they have lost their 4th and most- trusted leader, Arun Jaitley. The other three are Manohar Parrikar, Ananth Kumar and Sushma Swaraj. Arun Jaitley was like the Man of the match for the BJP and will always be remembered as an astute Parliamentrian in the hearts of the people. As the Finance Minister, he did his job well and the people loved him. May he find peace with God in heaven.
Help by Govinda mandals to flood affected areas
August 24, 2019, was celebrated as Gopalkala all across Maharashtra and other states. Different mandals celebrated this festival by collecting money from public to incur the expenses for Dahi Handi programme. A very high humanity guesture was shown by many mandals in this year. These mandals did not celebrated Dahi Handi festival but sent this collected money to needy people in flood affected areas of Maharashtra. We here by appreciate these people who has helped flood affected people in a righteous way and we pray to Lord Krishna who has imparted this thought amongs mandals. Let’s start helping from I to we and to us.
Much-more required to boost economy than announced by Union Finance Minister
It refers to high-level press-conference held on 23.08.2019 by Union Finance Minister (FM) with all the secretary-level officers joining her to reply to questions by media-persons. FM announced many measures in a bid to remove fear-psychology developed amongst tax-payers by withdrawing criminal action for normal tax-related violations.
But too much attention was given to auto-industry by reducing interest on car-loans, doubling depreciation to 30-percent and announcing large-scale purchase of new cars for government departments and ministries to replace old ones. Huge purchase of new cars by government will heavily burden public-exchequers leading to tax-burden or deficit-economy both of which will result in price-increase. Even if new cars are to be purchased for governments, rule should be that these must be economy cars with maximum ex-showroom price of say Rs 10 lakh.
But boost in economy can only be there if drastic steps are taken to boost real-estate being third biggest sector in Indian economy with 13.5-per cent share and textile placed at tenth place with 4-per cent share but having maximum work-force involved. Notably auto-industry given extra-ordinary boost is not placed amongst first ten sectors contributing to Indian economy. Capital-gain on properties should be reduced to ten-percent and registration-fees uniformly in all states at just two-percent for boosting real-estate. Such drastic reduction will tend to reduce element of black money in real-estate though ultimately resulting in extra revenue-earning.
Much-awaited Elephant-Bonds for a permanent Voluntary Disclosure Scheme together with compulsory deposit of all 2000-rupee notes in banks can provide huge flow of blocked unaccounted money in circulation without least affecting common persons.
Both real-estate and textiles can be exempted from GST like before on experimental basis. Adopting two tier system of ten and thirty percent GST replacing multiple rates of 0, 3, 5, 12, 18 and 28 percent together with abolishing corruption-generating Input-Tax-Credit ITC system from manufacturing and service sector can provide much more revenue through GST in simplified and user-friendly manner. Cess may be replaced by additional slabs in multiples of 50-percent.
Subhash Chandra Agrawal
(The views expressed by the author in the article are his/her own.)