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Many studies show that the “revenue neutral” GST rate is between 6.2 percent and 15.3 percent, that is, if we cut the core GST rate from 18 percent to 15 percent, and luxury rates from 28 percent to 22 percent, , Government should not lose any revenue. M/S Modi and Sitarman should have gathered courage to take this measured risk.
But we will never know if we ever try!
In any case, GST is crying for repair.
Just read that India’s leading tax lawyer, Arvind Datar has written The Indian Express“A fair and fair appellate system.”
But in the end, if all these admissions are really scared, rising on risky political ears, then I can propose an insurance plan that can eliminate the revenue risk-and the magic word is “privatization”, Therefore, the budget has been tragically abandoned by the present government today.
Currently, the value of our listed public sector property is more than Rs 17 lakh crore.
It is a matter of shame that instead of encouraging these benefits and returning the value to true owners, that is, you and I, India’s corruption citizens, the government is pushing us deeply into debt, Rs 2.75 lakh crore in a struggling BSNL. Is infected in, and more than Rs 11,000 crore in the rental, there are only two examples between many suicide fiscal calls.
It should be closed.
India’s economy needs new ideas and bold works. A quick and effective start could be done with the risk -free initiatives given above. Alas!
