Dear Shri. Murali,
I hope you will publish the following in Businessline
also
Yours truly
S. Raghunatha Prabhu
Amaraavathy Cottage
Thiruvampady.P.O.
Alappuzha-688002
TAKE HARD DECISIONS
The Finance Minister Pranab Kumar Mukherjee is a
veteran political leader who is quite aware of the dire state
of the Indian economy. He should take courage to take the
people into confidence, tell them the need to take hard
economic decisions and tell them the possible consequences
if such hard decisions were not taken and go forward on the
basis of transparency and frankness. The F.M. should try
to cut down govt. expenditure and increase revenues.
It is high time Income-tax is imposed on agricultural
income. Agriculturists may be given higher income-tax
exemption limit.
It is absolutely necessary that extremely excessive
pay and perks of top employees should be slowly reduced.
The F.M. should be bold enough to cut down the expenses
for running the government including ministers' tour expenses
and MPs' perks.
The F.M. should cut down allocation for Special
Protection Group and reduce the number of security personnel
for those VIPs who do not have much security threat but use
them as a status symbol.
The F.M. should consult defence minister and stop
archaic activities like canteen supplies which tie up funds
and waste the salaries of personnel.
All public sector undertakings should be compelled to
pay at least 8 % return on the government's investment
which will prompt them to increase efficiency.
To find additional resources, the F.M. should levy a
surcharge of 5 % on wealth -tax.
There is a severe shortage of LPG cylinders mainly
due to black-marketing. Let the F.M. increase the price of
LPG by Rs.150 a cylinder and crush the cooking gas black
market.
Yours truly
S. RAGHUNATHA PRABHU
M. Com.,C.A.I.I.B.
STATE BANK OF TRAVANCORE
PUNNAPRA-688004 ( ALAPPUZHA )
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