And for a Friday after the Paradigm shifting Corporate Tax cuts, some thoughts….. some musings…..
Drastic, never before Corporate tax reduction from 30 to 22%. For new Manufacturing companies just 15%. India is now competitive with most ASEAN countries. The Nation is on a “Reset” mode after the much needed positively disruptive changes like Demonetisation, unified tax system – GST, Insolvency and Bankruptcy Code – each of them huge “surgical operations” to cut and remove cancerous cells of deep rooted corruption and black money generators. Maybe couple of quarters more of slow growth, fall in Auto sales and inability of builders to sell luxury apartments need not elicit any National Panic buttons. With the good rains the economy will revive as soon as Global stormy winds calm down.
More than further Economic measures, what India desperately needs is an Attitudinal change. The Babudom, the corrupt Politicians and the sleazy profiteering middlemen/Businessmen must be disempowered from “business as usual”. Making Money and being Rich, when done Ethically, there is nothing wrong – must be celebrated. Investors, Achievers, Capitalists and Entrepreneurs must not be seen as Evil people who need to be “Policed” and “marked”. The communist/socialist minded Anti-Rich, Anti-Success and Anti-Wealth mindset, still so pervasive in our Society at large, must change. Businessmen must learn to pay taxes and citizens must boycott evaders. Let us encourage honest hard work to build the Nation’s Capital.
Let us all contribute to making India a 5 Trillion $ Private Sector led Economy, the Ethical way, the legal way, the SEEGOS way.