Guru's Execution

BUDGET PREVIEW

Ahead of the budget, the Left has renewed its tax-the-rich demand. In a front page article in New Age, D. Raja says the focus of the budget should be on revenue generation and not on expenditure cutting. He argues that there was enough room to generate revenues and demands an increase in rate of tax for those in the highest tax bracket, introduction of special surcharges for those who earn more than a crore per annum, introduction of inheritance tax, minimum securities transaction tax and tax on dividends and removal of tax concessions given to corporations.

"Currently, long-term capital gains are exempted. This should be withdrawn immediately," he says. The Left has also demanded that there should not be any expenditure cuts in health, education, food, fertiliser, fuel and NREGA. "These are necessary to sustain the consumption demand in the economy," he says.

Compiled by Manoj C.G.

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