Gimmicks must not be allowed as part of poll-manifestoes
Former Governor of RBI, Raghuram Rajan has very rightly raised concerns about vote-catching gimmicks like loan-waivers for farmers which very adversely affect the economy and mute middle-class tax-payers, with farmers ultimately at loss by the one time advantage of availing the gimmick loan-waiver. There must be a complete ban on such promises like subsidies, loan-waivers etc. to be part of poll-manifestoes of political parties.
Ultimate sufferers of such loan-waivers is the mute category of middle-class tax-payers who has to bear brunt of additional taxes or cost-inflation due to the deficit economy caused due to loan-waivers, subsidies or other schemes directly affecting public exchequers. Even the subsidy system should be fast abolished in a gradual manner. Agricultural income over a certain limit should be taxed because ordinary category of farmers have no benefit from such tax-free income while ultra-rich personalities including famous celebrity-icons and politicians misuse the provision by declaring their unaccounted income as agricultural income by purchasing agricultural land specially for the purpose.
Loan-waivers to farmers is big gimmick and pushing them again in Mahajan-system because after a loan-waiver, banks cannot finance them in future. Also such loan-waivers are limited only for previous years where many of farmers have already repaid loans. This kind of political gimmickry stops many others loans who are capable from repaying loans.
Simplify Income Tax procedure
Presently Income Tax Department provides two types of numbers, namely — Permanent Account Number – PAN, and Tax Deduction and Collection Account Number – TAN. While PAN is to be obtained for every tax-payer, TAN is a special number required only by those responsible for Tax Deducted at Source -TDS. Those required to obtain TAN number have to go through a cumbersome procedure of filing TDS returns every quarter even though tax is deducted at source only say once in a complete year. Moreover there can be cases where TDS provision may be required to be used only once in several years. It troubles a lot such TAN holders who are unnecessarily compelled to file TDS returns as nil every quarter. Even Income Tax Department has to spend much on staff and other overheads for managing those registered under TAN, and to process TDS returns filed as nil.
Income Tax Department should abolish the requirement for having TAN number by assesses required to deduct tax at source. PAN-holders may file TDS returns on basis of their PAN-numbers only in the quarter where tax is deducted at source. Rather, filing of TDS returns on monthly basis can be implemented but only when tax is deducted at source in a particular month. Since TDS accounts for a big proportion of total revenue collected through Income Tax, Income Tax Department will be beneficial to get TDS on monthly basis rather than leaving it with assesses for a complete quarter.
Subhash Chandra Agrawal
Rafale verdict favourable for Modi
The Supreme Court’s judgement on Rafale is favourable for Modi and the NDA Government and will certainly improve their image in the days to come, which may have otherwise dented due to the opposition’s allegations. However, it seems that the Congress is not willing to let the issue die down and will continue to fight till the coming elections.
Pappu has passed
Pappu has passed in three states. Bringing an end to its prolonged electoral losses since 2014, the Congress ousted the BJP to win Rajasthan, Chhattisgarh and Madhya Pradesh. In Madhya Pradesh, the nail-biting contest reached its finale December 11, morning at 12pm, after the Congress emerged as the single largest party with 114 seats. The Congress has come back to power in the name of development. These winnings will definitely boost the Congress to fight the 2019 poll. Before that, its responsibility is to make good the promises which have led it to assembly. BJP will have to be careful of Pappu in 2019 election and change its policies.
Congratulations to Congress
Billions of congratulations for the Congress party that has formed governments in Chhattisgarh, Rajasthan and Madhya Pradesh after BJP’s disappointing performance in the three State Assembly polls. The 2018 assembly elections proved to be a landmark moment for the Congress President Rahul Gandhi, as for the first time in his political career that he has led his party to a conclusive victory, a clear majority in one state and a borderline majority in another. I hope that he will show them what Modi has done with the farmers.
Shaban Ahmad Qasmi
BJP pipped to the post
The ruling BJP in Chattisgarh, Rajasthan and Madhya Pradesh were pipped at the post by the resurgent Congress party as the saffron party suffers huge loses in the 3 three states. In Telegana, TRS was the ultimate winner with a clear majority. In Rajasthan, there was tough fight between the Congress and the BJP and the former emerged as the single largest party in the 230 seats assembly. In Mirzoram, Congress lost power to MNF and the presence of Congress from North East region has been totally wiped out. Congress made headway in the 3 states as BJP’s policy backfired and ousted them out of power. It is time for Modi and the ministers to regain their lost ground before the 2019 Parliamentary Elections.
PV Sindhu’s Gold Medal a gift for Saina Nehwal on her wedding day!
PV Sindhu finally offloads the rabbit off her shoulder of the jinx of losing finals as she wins the World Tour Finals after seven successive losses in title clashes to celebrate an early New Year Party this year. Beating former World Champion Japan’s Nozomi Okuhara in straight games in a WTF finals proves her mantle and class which we Indians never doubted. She has it all in her and her next aim should be an Gold Medal at the next Olympics and World Championships.
Her Gold Medal was also a wedding gift to fellow Indian shuttler and compatriot Saina Nehwal who got married on the same week she won the trophy for her country. Sindhu and Saina may have been arch rivals but their on-court struggles and battles does bring the best in them which truly has benefited our nation over the years. Well played PV Sindhu. Every Indian is proud of your performance!
(The views expressed by the author in the article are his/her own.)