Corruption comes from two causes: incompetence and greed. Incompetent people should be denied position of responsibility and greedy should be punished. That is the only way to curb corruption. However, much of economic disparity and problems are also due to lack of understanding of right procedure and misuse or inaction by executive. This is where government can consider reform and save wastage. As for budget, only expectation is have reforms for common man rather than stimulus for industry.
Corruption comes from two causes: incompetence and greed. Incompetent people should be denied position of responsibility and greedy should be punished. That is the only way to curb corruption. However, much of economic disparity and problems are also due to lack of understanding of right procedure and misuse or inaction by executive. This is where government can consider reform and save wastage. As for budget, only expectation is have reforms for common man rather than stimulus for industry.
As an initial step to limit the damages of rampaginging corruption,at least the following can be done straightaway: 1. demonetise all currency notes of Rs.500/-and more.(the cost of issuing new currency ,in lieu,thereof will be about 5% of the total value.The new currency can be in the denomination of Rs.1000/-only). 2.All transactions over Rs.1 lakh should be only through cheque/negotiable instrument or credit/debit cards. 3.Estate Duty (abolished by Rajeev Gandhi) should be reintroduced. 4. All public servants(including all politicians holding positions any time during the decennium) should give complete particulars of their bank accounts.Undeclared accounts should be seized and penalty imposed.
Revise IT law No tax for less than 1.5 lakh per annum, age > 75 years 10 % for 1.5 to 5 lakh per annum 20 % for 5 to 10 lakh per annum 30 % for more than 10 lakh per annum Abolish tax saving schemes. Only medical insurance, home loan should be under this. Make return policy simpler. Stop these insurance companies from leeching out savings of people.
Sir, I am a salaried employeeand my name is C. Sridhar from chennai. I appeal to the Hon'ble Finance Minister to increase the present IT income limit to Rs.2,50,000/- keeping in view of the high rise in inflation and prices of all essential commodities leave alone other goods. The acute increase in prices of essential commodities has left the salaried person in a very desperate & pitiable situation. Hence my request is to increase the income limit to Rs. 2,50,000/- as in these days of unprecedented high prices there is no scope for making savings. Thankyou Sir,
