The autor has given very valuable suggestions worth seriously considering by the Government. However, the thoughts are on routine lines and tinkering here and there with taxes, exemptions etc cannot be of an endurable nature to save the economy which requires out of the box thinking and very decisive actions. The very approach of the new government to tackle corruption and unearth black money if proved a success, the isssue of deficit financing for developmental needs will not arise. The structural reforms if aimed at can improve the savings and investments and the economy can expect to perform better to contain inflation and other serious issues faced by the economy. The capital market needs to be made a source of finance from household sector and capital formation from the retail investors. The dividend tax needs to be revisted and STT should emerge as a major tool to raise resources, prevent speculation and to regulate the capital market in a healthy manner.
Dr.T.V.Gopalakrishnan
(This comment is in response to the article let us get real to the Budget that appeared in BL dated 26/6/14).
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