Friday, July 23, 2004

Some food for optimism

I am in an optimistic mood today about my country. So I am writing about the things which give me hope for a better tomorrow.

1. The courts are finally doing something right for a change. The Bombay high court has imposed a fine on the BJP and the Shiv Sena for calling a bandh. Even though the fine amount is not much, it atleast sends out the right signal to the parties: that it is not their right to stop public life!!
Though there was an earlier Supreme court order prohibiting use of such measures, this is the first such fine imposed. Bravo!!

2. The Kelkar task force for implementation of the FRBM act has made some very good suggestions on direct and indirect tax.  The main theme of the recommendations is "the same rule for everyone". Lesser corporate tax, no exemptions and a single consolidated VAT of 20% to replace excise, sales tax, octroi etc. This will simplify things greatly. Mainly this will free up the valuable time of the Indian public, which is generally spent on tax compliance/avoidance.