The Campaign Diary - 4.4.2014 In the course of my campaign, I have met thousands of people, Trade and Industry Organizations, and several entrepreneurs. The declining economic situation in the country has impacted all. There is the need to expand economic activities, recreate investment environment period, place more money in the hands of the consumers and lower the burden on the weaker sections. Even though it is for my party to decide collectively larger issues of policy, the opinion that I wish to canvas should be made clear. I will strongly support the following ideas both within my party and in Parliament:- 1. The current income tax exemption for income of Rs.2.00 lacs should be gradually but significantly raised. It will be the major relief to small traders and mid level employees and the common man. The initial loss of revenue is not very significant. Such loss would be partly made up by placing more money in the hands of consumers and earning indirect taxes when consumers spend this money. The more the money velocity, the larger will be indirect tax benefits. 2. Small industrial units up to a turnover of Rs.1.50 crores are exempted from payment of excise duties. In view of the depleting value of rupee and inflation, this limit should be enhanced to Rs.5.00 crores. 3. The Goods and Service Tax (GST) should be immediately implemented. Comfort level will be given to State with this aspect which anticipate a loss of revenue. This will ensure uniform rate of Tax in all states. 4. The Jawahar Lal Nehru Urban Renewal Scheme has imposed stiff conditions on States with regard to levy of taxation on property owners before grants are made by the Central Government. We should declare 50 important Centres as tourism circuits. Obviously, Amritsar because of its religious and historical importance, attracts one lakh tourists a day. It shall be a Tourism circuit. Tourism circuits will earn revenue for the country by increasing volumes of tourism. These circuits should be exempted from the strict compliance of JNURLU conditions. 5. The border area farmers are losing on cultivation of their land because the fencing is within India’s territory and their lands are across the fencing. The NDA Government had started a compensation package for these farmers which was discontinued by the UPA. The same should be restored back. All these steps can bring a major relief to the people of Amritsar.
Posted on: Fri, 04 Apr 2014 04:07:17 +0000
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