Loan Waiver
Sir,
As I understand, we tax payers money is to be used for the nation building and not to support freebies promised by various parties as election promises. Take any election and the promises always includes loan waiver, free ration and so on. The funds for these freebies, I believe, comes out of govt. exchequer built on honest tax payer's money.
Any party making such promises should fund these out of their own corpus and not from govt exchequer.
The tragedy of today's India is that;
-The Richest (industrialists) and the Poorest (farmers) of India want Loan Waiver
- Middle Class are born to support the above two class and pay EMIs for their lifetime. more
As I understand, we tax payers money is to be used for the nation building and not to support freebies promised by various parties as election promises. Take any election and the promises always includes loan waiver, free ration and so on. The funds for these freebies, I believe, comes out of govt. exchequer built on honest tax payer's money.
Any party making such promises should fund these out of their own corpus and not from govt exchequer.
The tragedy of today's India is that;
-The Richest (industrialists) and the Poorest (farmers) of India want Loan Waiver
- Middle Class are born to support the above two class and pay EMIs for their lifetime. more
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All political leaders announcing freebees should pay it thru their party fund.They have no moral right to use tax payers fund.It should be made law and Election commission must vouch for it.The Dharamshala culture must stop.This is only the vote catching tactic. more
Jan 02
The malady is the Bank officers sanctioning the loans to bigwigs are left scot free although they are party for the loan embazzlement. Not only arresting, but the amounts MUST be recovered from concerned Bank officers. Then only current Bank officers will take all care. Keeping public view also gives limited result since the political goons will give favourable comments on the freebies and that may not be a tangible solution. As reservations are done on per cent population, freebies must be limited to only the taxes received from the target population percentage in the country. This will only bring full stop from the present political loot. more
Dec 30
Please note that many of the big loans are not sanctioned by the Bank officers on their own. A number of loans are sanctioned at the behest of the highest officers in govt, the political bosses. I personally know the bank officer threatened when he rejected to to recommend to higher office,though the proposal was bad. Thus this culture of vote catching frebies cannot beroute out by few.I am thankful to Sri Narendra Modi who spoke against the loan waiver to Farmers. I wish wisdom to prevail on all the political bosses at least now. more
Jan 02
like other bills or notifications, govts put it up on its website for public to give its opinion or objections, if any , why they dont ask public if loans given from public funds should be waived off ? more
Dec 30
This morning I happen to read an article in ET Retail.com with a title "Let’s split the bill: GST Council wants more services unbundled" which informed about the decision of the GST Council in the following words: "GST Council has decided to extend the unbundling of bills beyond healthcare for all categories of services." i.e. your getting separate bills for taxable and non-taxable components that include services exempt under the goods and services tax (GST) regime. Obviously, the Govt of India in the GST Council has had not done its exercise before implementing the GST but introduced charging you and me the GST on items that are exempted from GST. And, I say, since this collection of GST is under law with stiff conditions for non-payment and is also impacting the Income Tax indirectly it is nothing but a coercive method. NOW SEE HOW IT IS TERMED "DIVERSION" OF THE ILLEGAL TAX SO COLLECTED. more
Dec 30
Mr. Kishore Gersappa, I do not agree with you though would accept 1%-2% errors in making a rule or the Act. But not when the intention is to amass wealth by hook or by crook - through taxes. At the GST proposal I remember having asked a number of times the Authority to make a format for collection of GST from consumers, but they ignored totally. Obviously, when there are exempted items these must not be billed but the government of India through the States accepted these bills on consumers at the time of assessment.
How, do you think, the money wrongly collected from consumers on exempted items will be identified, and how the consumers would be able to claim the same and get the refund? Your response will be appreciated. more
How, do you think, the money wrongly collected from consumers on exempted items will be identified, and how the consumers would be able to claim the same and get the refund? Your response will be appreciated. more
Dec 30
I am sure that however intelligent the law or rule making authority is , a fool proof system cannot be designed. If that was so every country would have followed another country who have implemented GST. Each country is unique and the attitude of people matter. Several service givers, who are used to evading or manipulating systems to avoid paying taxes, are bound to find ways to avoid paying it even now. If people are sincere then why do people buy things paying cash and not insisting on receipts. Some rules will keep on changing, since it is trail and error process. People are ready to pay bribes to get their things done or to cheat the system and then such people blame the governments for being corrupt when some government person asks for bribes. Bribes are OK when we want it and not otherwise. People paying taxes want the system to get simpler and at the same time government wants its revenues to increase amidst all the populist schemes especially during elections.
Some states increased VAT just before implementation of GST to get benefits when the Central pool of taxes gets distributed amongst states ( This distribution has to be done by central government for 5 years). There are still lot of leakages in the tax collection system which over a period of time maybe sorted out by innovative methods . For the government agencies ( both State and Central ) and the bureaucrats have a challenging time to design a system which is agreeable to all stake holders. more
Some states increased VAT just before implementation of GST to get benefits when the Central pool of taxes gets distributed amongst states ( This distribution has to be done by central government for 5 years). There are still lot of leakages in the tax collection system which over a period of time maybe sorted out by innovative methods . For the government agencies ( both State and Central ) and the bureaucrats have a challenging time to design a system which is agreeable to all stake holders. more
Dec 30
