Dear Shri Amit Mitraji :
Congratulations
on your appointment as the Chief of the empowered committee on GST
I
request you to consider my suggestion on GST
at :
That
might break the deadlock
with
regards,
hemen
--------------------------------------------------------------------------------------------------------------------------
A Laughing Matter ?
Last
evening, TV channels showed the traditional " Halwa Ceremony " in the
Finance Ministry building
With
this , the process of preparing / printing of the Union Budget starts
The
people involved will stay " imprisoned / incommunicado " till FM
completes his budget speech on 29th Feb , to ensure that the budget provisions
do not leak out
That
does not stop the experts ( - and some non-experts like me ) , to make
predictions such as :
*
Revising limits for personal Income Tax slabs
*
Reducing rates for TDS
*
Rationalizing procedures ( assessment scrutiny / tax refunds / tax litigations etc
)
*
Launching new Schemes / Funds for savings and investments
*
Increase / decrease of Excise rates on products ( watch out smokers and
drinkers ! )
*
Increase / decrease of Import Duties on products to protect local industries /
stop dumping from China
*
Recapitalization of Banks ( to write-off Rs 7 lakh*crore of NPA with tax payers
money )
*
Write-off DISCOM debts of Rs 4 lakh*crores by passing the buck to State
Governments ( tax payer burden ? )
*
Write off loans to farmers - what with elections looming in 5 States ( but I
support this )
News
papers report that the Government have received budget suggestions from some
7,000 persons and that , this time around , Prime Minister himself is
closely involved in the budget making exercise
Now
, with all this obsession / seriousness / paranoia , surely this secrecy
surrounding the budget document , cannot be a laughing matter !
Unless
you ask ,
*
some foreign software geeks ( eg: Sundar Pichai / Satya Nadela / Vivek Ranadive
/ Ray Kurzweil etc )
*
some Indian BIG DATA ANALYTICS geeks
( Mukund / Krishnan / Sanjay / Srikant / Raj / Anurag etc )
Because
, if you do , they will laugh and tell
you :
"
Just give us the actual budget documents of the
past 60 years ( including the accompanying budget speeches ) and we will
process these documents using Big Data Analytics software and predict what will
be the provisions in the forthcoming budget ( with a probability of 99.7 % - ie
; plus or minus six standard deviation )
And then , we will process those past budget speeches with a
PARAPHRASING software ( ala Kurzweilai.net ) and give you an advance print-out
of Shri Arun Jaitleyji's speech on 29th Feb "
But
of course , Shri Jaitleyji could cheat the PREDICTIVE
ANALYTICS , by announcing following unpredictable :
*
Total Abolition of Personal Income Tax ( or at least , reducing incremental tax
rates in each higher slab )
*
Decreasing Incremental Corporate Tax Rates , linked with each higher slab of
" Permanent Employee Number "
*
Perpetual Amnesty Scheme for all CASH deposits made in Jan Dhan Accounts , if
invested in tax-free Infra SPVs
*
Transfer of 1.8% of GST
(from 18%) into buyers' PPF a/c , to ensure all citizens get PPF a/c for tax-free
savings
This amount to be used for paying premium for COMPREHENSIVE HEALTH INSURANCE to
cover all illnesses
*
Introduction of plastic Currency Notes of Rs 500/1000, embedded with micro RFID
sensors ( stop Black Money )
Surest way to ensure that almost all payments are made thru official channels !
*
Introduction of BTT ( Bank Transaction Tax ) @ 2% to yield Rs 15 lakh*crore of
revenue ( against revenue loss
of Rs 2.5 lakh*crores caused by abolishing Personal Income Tax )
Now
such announcements , besides being " Unpredictable " , would
echo Shri Narendra Modiji's following announcement at Make in India week
on 13th Feb :
" There
is no time for incremental changes . We want a quantum jump "
Dear Shri Jaitleyji :
How about an "
Incremental Quantum Jump " by
* Announcing
these unpredictable on 29 Feb 2016
* Spreading out
actual implementation over the next 5 years
That could be the surest way
to win 300 seats in 2019 Lok Sabha elections !
Any other budget provision /
announcement , would be a laughing matter
------------------------------------------------------------------------------------------------------------
www.hemenparekh.in / blogs
21 Feb 2016
hemen
parekh
Marol
, Mumbai , India
(
M ) +91 - 98,67,55,08,08
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