The Hindu Business Line : CPI wants rationalisation of corporate tax exemptions

THE Communist Party of India has urged the Government to strengthen the securities transaction tax (STT) and rationalise corporate tax exemptions. The party also sought the imposition of a nominal tax on FII outflows.

CPI leader Mr A.B. Bardhan told newspersons that the party also sought levy of inheritance tax for property beyond a cut-off value and luxury tax on expensive cars and consumptions.

He sought increase of Rs 52,000 crore in gross budgetary support, an allocation of Rs 5,000 crore for reviving rural co-operatives, Rs 7,500 crore more for health, and Rs 3,000 crore for social security for unorganised workers.

He also wanted the allocation for education to be raised from three per cent to 4.5 per cent in the coming Budget and to six per cent in 2007-08.

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