Tuesday, March 01, 2005

prateek2410 | 02:26 am

March 12, 2005   12:46 AM PST
yeah also, it just reminds me that to avoid paying 0.1% tax n too, promote the use of cheques(as Mr. Chidambaram indicated), a typical middle-class family wud have to employ a maid, a washerman, a driver n everybody else with bank accts. in their na,mes so that the family can make payments to them through cheques. Howzzat?!!!
March 10, 2005   04:07 PM PST
its right that putting 0.1% tax on cash withdrawal to control black money.But on the other side putting tax will be burden for the industrialists and businessmens for their daily transactions, and also it will not be controlled that black money, bescause no one will store their black money in the indian banks, because of the problems like this, i dont know on what way they will store their black money in the accounts which is accessible to all the govt officers,
March 2, 2005   12:38 AM PST
While this budget may be average I am still happy that they managed to nudge ahead(even though it be marginally) inspite of having to keep all parts of the government happy:)
Regarding the 0.1% I have no idea what he had in his mind. Anyways he has gone on record saying that it is the least important point for him in this budget, so I would expect some change to it.
March 2, 2005   12:26 AM PST
U r correct Prateek. another thing that needs mention is the grand schemes and funds for rural India, which r noble indeed. However, what the FM misses out here is the proper implementation n delivery mechanism to ensure that the benefits of these schemes reach the right people. n this is what makes me skeptical abt the whole bharat nirman idea.
As for 0.1% tax on cash withdrawals of more than Rs.10000 is concerned, i think the principle on which it is based is good(promoting a whiter economy) but instead of resortin to such useless methods, the FM shud actually hit at the source of the generation of black money. this 0.1% tax wud only be a trouble to genuine taxpayers n banks n also, lead to a parallel economy that exists as an alternative to banks.

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  • Name - Prateek Agarwal
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