From: amitabh.kant@nic.in [mailto:amitabh.kant@nic.in]
Sent: Thursday, November 13, 2014 11:29 AM
To: Hemen Parekh
Subject: Re: RE: HOW CHINESE MAKE CHEAP ?
Sent: Thursday, November 13, 2014 11:29 AM
To: Hemen Parekh
Subject: Re: RE: HOW CHINESE MAKE CHEAP ?
I greatly appreciate your inputs! Extremely refreshing! We need radical change agents like you.
All the best!
Regards,
Amitabh Kant
----- Original Message -----
From: Hemen Parekh <hcp@recruitguru.com>
Date: Wednesday, November 12, 2014 11:26 am
Subject: RE: HOW CHINESE MAKE CHEAP ?
To: amitabh.kant@nic.in
----- Original Message -----
From: Hemen Parekh <hcp@recruitguru.com>
Date: Wednesday, November 12, 2014 11:26 am
Subject: RE: HOW CHINESE MAKE CHEAP ?
To: amitabh.kant@nic.in
> Dear Shri Kant
,
>
>
> Many thanks for your kind
words
>
> Yesterday , I have
couriered to you , a folder titled " Transforming
India " . It should reach you today
>
> That folder carries my
suggestions ( my past blogs ) , as listed in attachment
>
> With so much talk / action
about DIGITAL INDIA , you may want to
forward my suggested Mobile Apps ( listed in the folder , as * VotesApp
/ * I SIN > < U SIN ) , to the concerned
officers , for examination , and implementation , if considered
feasible
>
> In the meantime , I hope
you find some time to read my today's blog , reproduced below
>
> with regards ,
>
> hemen parekh
> Mumbai ( 0-98,67,55,08,08 )
>
> -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
>
>
> A CASE FOR
ZERO PERSONAL INCOME TAX
>
> --------------------------------------------------------------
>
> For past two years , I have
been advocating total abolition of Personal Income Tax
>
> Not because , a few countries such as Saudi Arabia , UAE , Qatar , Oman , Kuwait , Bahrain etc , have NIL personal income tax
>
> But , even for a less developed country like ours , it makes a lot of sense
>
> Here is why :
>
> * Today's Hindustan Times reports following study by Price Water-house Coopers ( PWC ) :
>
> " Average take-home salary as a % age of total salary " - are :
>
> > Saudi Arabia................ 98.86
>
> > China....................... 62.05
>
> > Germany................... 60.61
>
> > USA.......................... 60.45
>
> > UK........................... 57.28
>
> > India......................... 54.90
>
> > Italy......................... 50.59
>
> > * It is obvious that Saudi Arabian citizens take home more because there is NO personal Income Tax there
>
> * In India , our " Take home Salary " is only 54.90 % , because we pay a very
> high
personal income tax
>
> * Of the total revenue receipt of Central Government ( 2013-14 est ) ,Personal Income Tax contributes only 23 % ( approx Rs 12.4 lakh crore )
>
> * If personal income tax were to be abolished , this revenue will be lost
>
> But , here is the Upside :
>
> * India's current Household Saving Rate = 30.1 % of GDP
>
> * That means our total Household Savings = Rs 24.72 lakh crore
>
> * Of these ,
>
> > Rs 16 lakh crore are tied up in unproductive Physical Assets (Gold/Land)
>
> > Rs 8 lakh crore are invested in Financial Assets (Bank / Mutual Funds)
>
> * If Personal Income tax is abolished , it is possible that our Household
> Savings
Rate may go up from 30.1 % to 45% of GDP (it was 40% in past)
>
> * That would add Rs 12.36 lakh crores , raising total to Rs 37 lakh crore !
>
> * And most likely , the proportion of investments would be ,
>
> > Rs
7 lakh crore in Physical Assets , and
>
> > Rs 30 lakh crore in Financial Assets ( Productive use )
>
> And that's not all !
>
> * With NIL personal tax to pay , all the cash ( black money , no doubt ! ) ,
> lying in bank
lockers , will get deposited in official bank accounts , within
> one year
>
> Now , couple this BOLD & IMAGINATIVE step with :
>
> * Creation of SPVs , dedicated for building Infrastructure . No questions asked
>
> for amounts invested in these SPVs . No dividend tax for 10 years
>
> If implemented , there will be no reason for us to go begging China / Japan / USA for investments in Infrastructure / Manufacturing etc !
>
> > * hemen parekh / 12 Nov 2014
>
>
>
> From: amitabh.kant@nic.in
[mailto:amitabh.kant@nic.in]
> Sent: Tuesday, November 11, 2014 5:55 PM > To: Hemen Parekh > Subject: Re: HOW CHINESE MAKE CHEAP ?
>
> Dear Hemen
Parekh,> Excellent Piece! Congratulations! > Warm Regards,
> Amitabh Kant
> > > ----- Original Message ----- > From: Hemen Parekh <hcp@recruitguru.com> > Date: Sunday, November 9, 2014 8:51 am > Subject: HOW CHINESE MAKE CHEAP ? > To: nsitharaman@nic.in > Cc: amitabh.kant@nic.in, singh.shailen@nic.in
>
> > Amitabh Kant > Secretary to Govt. of India > Ministry of Commerce and Industry, > Department of Industrial Policy and Promotion, > 157, Udyog Bhawan, > New Delhi-110 107 > Tel: 23061667 / 23061815 > Fax: 23061598 > email: amitabh.kant@nic.in |
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