And for the last Friday before the Union Budget is presented, some thoughts….. some musings…..
Building up to the budget, Industry Associations and Business Sectors are asked their comments. Here are my priorities for the year. The three waves of Covid pandemic has hit the urban poor particularly the informal sector – those on daily/weekly wages in contact intensive sectors like roadside vendors, hawkers, kirana shops, mall casuals, rickshaw pullers, auto drivers, street entertainers, craftsmen, musicians and artisans etc. etc. with make shift/hutment type dwelling and no village home to go to. Every city in the country have these marginalised who are economically worst hit. They urgently need relief on similar lines of the MGNREGS ( Mahatma Gandhi National Rural Employment Guarantee Scheme ) wherein 100 days of work and payment is guaranteed each year to every rural household where the adult member volunteers to do unskilled manual labour work. This Indian Act is recognised even by the World Bank as the Worlds largest public works safety and security programme. In these pandemic induced economic travails, we urgently need a similar safety net for the urban marginalised.
More resources have to be raised and what better opportunity than now to bring the rich farmers into the income tax net. The Govt have been collecting agricultural income statistics from all HNIs over the years in their income tax returns. The last reports have indicated more than 9,14,506 individuals have shown Agricultural income in their Tax filings and as per current laws do not pay any taxes. This is gross injustice. If by any other profession or business you earn more than 15 lakhs annually you have to shell out 30% income tax. What’s so sacred with agricultural income to be treated as a “Holy Cow”. Citizen groups must pressurise all political parties to tax these rich HNIs who show big farm incomes and get away scot free. Corrupt politicians of all hues will raise many bogies why Agri income can’t be taxed. It’s also the mirage to cover up the black money earned in other vocations. Small and marginal farmers need support, not these super rich looters.
The Omricron wave is receding from the big metros and let’s all hope and pray for a pandemic free summer in the country. Let’s rebuild our economy the caring way, the globally competitive way, the SEEGOS way.