Budget Wishlist 2009

Dear Sir/Ma'am,

Please find the following response to your article in The Hindu, Business Line Budget Wishlist 2009 dated 18th June 2009:

This is as per your insertion in Business Lines, The Hindu. Reference to the article Budget WishList inviting Budget expectations alongwith reasoning from the readers.

I expect that the finance Minister will give some sort of incentive to the people to encourage every human being to work hardand earn moreby introducing a scheme that every person shall pay upto a certain limit Income Tax, so that the requirement of government collection limit is met. Such a limit can be set say, from Rs.500000/- to Rs. 1000000/- income per haed per financial year, or any other suitable limit set by the government and beyond this limit whatever extra income one earns will all be Tax-Free. This way the requirement of the tax collection by the government will be fulfilled and also each and every person will get a incentive to work hard day and night and earn more and more and pay NIL income tax beyond the set limit. All black money will come out in open market and people will become prosperous by having interest to work hard and earn more and more. Banks will be loaded with funds when all black money in circulation will come out as individual legal white money in circulation. No one will be lethargic and country will progress day and night. India is full of intellectuals but alas, there is no incentive to work more and earn more because of the high rate of income tax.
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Regards,
C.P. Chopra.