The Hindu Business Line : Budget Burden

This is with reference to the editorial “Budget Burden” (Business Line, February 28) wherein you have indicated that urban-rural divide is a huge challenge for the Finance Minister.

I think the Finance Minister can solve this problem in case he amends the Income-tax Act, 1961 so that “any expenditure incurred by a company to develop villages where directors were born will be allowed as deduction while computing income liable to income-tax.” I hope the Finance Minister will accept this suggestion which has been put up to him for consideration a number of times.

S. C. Aggarwal New Delhi

Be more eco-friendly

Everyone concerned with the preparation of the Budget knows fully well that the country may have to face a severe water shortage by 2020. The previous President, Mr Abdul Kalam, has often reminded us about this fact. But the country is yet to take positive steps in this direction, though there are some promises here and there.

This year’s Budget is expected to be a populist one, with large tax sops, with an eye on the Lok Sabha elections. The Finance Minister, Mr P. Chidambaram, should consider earmarking considerable funds to construct a number of small check-dams across the country, with a view to convert barren lands into cultivable areas.

Though every government uses every opportunity to work on Gandhian principles, none other than perhaps Pandit Nehru in his early years, gave impetus to this aspect. Let the reforms progress with vigour. But reforms should not be at the cost of agriculture and related activities.

Agro-based industrial and business activities also crave for adequate fiscal support. Let the FM use at least this chance to devote attention to the much forgotten Gandhian wish-list for the country, where vast numbers of rural people, who still have no clue what is meant by the ongoing economic reforms.

C. P. Velayudhan Nair Kochi