In the shoes of our finance minister...
February 18, 2013 9:53am CST
So...budget is round the corner, and I know Mr. P. Chidambaram is living off his coffee ...sleeping barely three to four hours per day...what with Armsgate and such things coming up. Anyway...he is a sincere guy...and a smart one at that..though this is a grudging admiration...wish he would not have supported the ruling party... So my suggestion to Mr. Chidambaram this year is... Sir..would you please offer an amnesty in respect of Customs and Central Excise...suggesting to people that you pay all your dues for the last 10 years without interest...in installments...but in such a way that in six months I get to see at least 50 percent of my current account deficit wiped out either by receipts or receivables. The reason I suggest this is...there are many small businesses that are not aware of the books that they need to maintain under Customs and Central Excise acts. Many of them cannot afford to employ that many people as well as they are just starting business and are short of cash. When the business is barely able to crawl, corrupt officials from customs and central excise departments land at their door steps, and take away annual monies which by no means are less...in fact they often collect more than the amount the businesses would be paying actually...merely because these people are not aware of all the cumbersome procedures... Now, if amnesty would be offered to such entrepereneurs...they would be inclined to stop generating black monies...and come clean... And Mr. P. Chidambaram's clothes would look more white.. My question is...what would your suggestions be for my country's budget...when we are being ranked in BBB by ranking agencies due to our current account deficit. In other words...our budget your solution ...to prevent debt trap for my country. Thanks in advance for your suggestions. (By the way, I agree that super rich should be taxed...if Mukesh Ambani is earning enough to buy those vintage cars, and build that weird house, by taking hefty remuneration which otherwise would have accumulated within Reliance, and been there for shareholders, then time he paid more taxes, right)
• Adelaide, Australia
21 Feb 13
Surely that "can't" happen with all the conditions, proviso's & monitoring we've put in place? Just think of all the jobs it will give the people & the benefit to the country! It'll get you out of a debt spiral forever & restore your AAA credit rating. And think of all that essential target practice it will give to the South Koreans & Japanese in shooting down nukes & thus increase military spending. LOL!
15 Mar 13
Ah Vegan...our proviso's and monitoring are there so that somebody smart (read without any scruples) comes along and finds a way to render those useless. lol I think they are already contemplating that Uranium thing.. I am just confused about it as of now... South Koreans and Japanese ...yes...but military spending ...is it not a wasteful expenditure? lol
• Adelaide, Australia
23 Mar 13
One further thought on the final point you raised in the opening... taxing the rich simply doesn't work - they always find a way around it. Recent experiences here are the examples of the mining tax & super profits taxes, which utterly failed to bring in anywhere near what they should have. The only thing that seems to have worked here is to provide incentives (not necessarily financial) for them to invest their money of other assets for the greater good. I think another way to achieve a better level of social responsibility is to make their book publicly available & individually negotiate a way to ensure a fixed proportion to all goes back into the country for the benefit of the people. What do you think?
25 Mar 13
Yes...that incentive has been provided...start a new industry and claim rebate for the next ...oh so many years. You bet, many will start. :) Mukesh Ambani is sitting on a really large pile of cash..:) You are also right about "they always find a way around it"...dont I know it..lol After all, I did suggest quite a few of them myself...