Business Daily from THE HINDU group of publications
Tuesday, Jan 15, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Tuesday, Jan 15, 2008 ePaper | Mobile/PDA Version |
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Opinion
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Letters Indirect taxes This is with reference to the editorial “Time to lower indirect taxes” (Business Line, January 12). The author has rightly stressed the need to rein in the subsidy burden, which is ballooning. According to various estimates, more than 60 per cent of subsidies neither reach the beneficiaries nor achieve the purpose for which they are allocated. Subsidies should not only be audited rigorously, but also properly monitored by a team of eminent personalities, social activists and committed social organisations to ensure proper utilisation of funds. There is still room for lowering direct taxes, reducing various cess rates and encouraging savings among public, albeit with reduced interest rates. Too much of diversion of funds and individual savings to market-related activities would spell doom in the long run. S. A. Srinivasa Sarma Hyderabad More Stories on : Letters | Taxation
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