I feel living in India is more expensive than USA. 1.Need to cut all the taxes on IT employees up to 10 lacks.Then ppl can spend lot of money without fear. 2.Get all the black money from swis banks and develop Indian infrastructure. 3.Control the corruption even for getting passport we need to bribe police.With out giving money they don't process fast and give lot of trouble.worst place on earth i believe.
Following measures should be taken 1. Reduce Tax % for all type of income. A flat 10% tax should be there for all income group to encourage all class of people to pay taxes. 2. Law for penalty for not paying taxes should be tightened. 3. all allowances should be kept free from taxes. Government employee is not earning anything from these allowances these are expenditure only. so no taxes should be levied.
4. Petrol and deisel prices should be reduced to reduce the overall inflation by reducing taxes on them.
5. VAT should be removed. For any product only one time tax @ 5% should be levied and this should be paid by the manufacture only by adding in price. no other dealers etc should be allowed to add taxes on the price of the material. From the dealers income tax should be charge as per income. Price may be controled a lot by reducing taxation at different level on the same product.
Re: To finance Minister
by vuyyala nagesh on Feb 24, 2010 12:40 PM Permalink
i think politicians may not get their share if they implement this. If this kind of budget is implemented then definitely INDIA will prosper man. Then ultimately politicians will not have prosperity in their swiss banks
Re: To finance Minister
by vuyyala nagesh on Feb 24, 2010 12:41 PM Permalink
i think politicians may not get their share if they implement this. If this kind of budget is implemented then definitely INDIA will prosper man. Then ultimately politicians will not have prosperity in their swiss banks
Some of the things that can be done if I was FM. 1. Free the petrol and diesel prices from governemnt subsidies. Let the compnay decide the price. 2. To increse revenues - Start common GST pratcise across all states @ 14% and remove all the taxes which complicate the system. Import duty should be increased on products that are dumped in indian market and which causes and harm to indian industries Reduce the subsicidies given to farmers for electricity and water. 4. Liberalise policies like inviting foreign companies to start their factories on indian land but to employ ony indians this would increase production and employment oppurtunites. personal tax slab should be made 5% for income between 2 lakhs to 5 lakhs. 10 % between 5 lakhs to 8 lakhs. 20% between 8 lakhs to 12 lakhs and 30% for above 12 lakhs. Increase the 80c tax saving scheme from 1 lakh to 5 lakhs and in return reduce the interest rate form 5.5% to 4%. This will help govt to get money for infrastructure development. Also no capital gain tax if profit earned when sold after 3 years. This will help to invest in property mkt. More schemes from govt like post office savings and all with competitive interest rates. IN terms of reducing expenditure Reducing the limit or budget for expenditure of all MP's and reducing their security expenditure. No disruptions in parliament if some parties does heavy penalities. Mainly to reduce subsidies on kerosene and petrol products also to states. and more
Re: Things that can be done
by Sanskar Tanmor on Mar 02, 2010 01:50 PM Permalink
I have more clarified and simple solution here. Some people say that, women work as they need more money for their home to maintain standard lifestyle. Ok. Fine. On the other side. If only 1 Person in a family works, means he helps to reduce unemployment in one angle. SO he is helping nation to reduce unemployment. So government should think of it and he should increase tax slabs to single working person in a family. Like 3.5 Lakh (1.6 1.9 lakh) --- No Tax. 3.5 Lakh to 10 Lakh (3.1 3.4) --- 10% and so on. If I am suggesting this solution. How many has issue. After all, single person working family also have right to think of himself, his family, him lifestyle. I know, this option is the best. But, In India, its worst. So Continue... Everyone should work. Father and Mother will work till age 65 to 70, Husband-Wife will work as usual, also Kids will work part time. Do India have that much jobs... vacancy...In private of government... After all India is a labour country. and Labour supplier is Mr. FM. Everone should work and our politicians will enjoy the money earned by all Indian.
