Make GST the game Changer

Apropos your editorial GST If it were done when it is done (ET dated 22/5/17), the ultimate objective of the GST is  to rationalise the taxes in such a way that the nation as a  whole will have only  one tax which will help to augment the revenues and distribution of wealth in an equitable manner and bring down the inequality of wealth and incomes among all states and the people The success of the GST no doubt depends on its effective implementation with adequate checks and balances to minimise corruption, leakage of collection and efficient and timely distribution of goods and services and the revenues through out the country.The administrative system needs to be made strong and accountable which is possible only if the Government moves ahead with the implementation of the GST with speed with adequate provision for  periodical review of  progress and revision of the rules of the game  in a befitting manner without loss of time and intended objectives.

Dr T V Gopalakrishnan

(this letter appeared in ET dated 23/5/17 with some modification.)

NPA Resolution - the New Ordinance

The present approach announced by the Government empowering more powers to RBI can at best find some solution with all problems to encash the accumulated NPAs. Its success is not guaranteed as the vested interests who have looted the banks systematically will not so easily yield to such pressures and tactics. What the banking system needs is to stop fresh flows of NPAs for which an unbiased approach to discipline the banks and borrowers is a must. No such attempts or intentions are visible in the new ordinance just released. Both stock and flow approach need to be rigorously implemented without any scope for interference from the Government , bureaucrats and politicians.

Dr T V Gopalakrishnan

5/5/17.