RISING SUN
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Give Padma Bhushan to highest taxpayer: Expert
BANGALORE: Reward the country's highest taxpayer with the PadmaBhushan -- this was the suggestion of Raghuram G Rajan, chief economic adviser, department of economic affairs, as part of the finance ministry's strategy to broaden the tax base.
Addressing 560 fresh graduates and the 1,000-odd audience at the 38th annual convocation of IIM-B on Monday, Rajan said: "To raise resources to spend on education, food and healthcare for the poor, the rich must play their part. The government must broaden the tax base by finding and penalizing tax evaders and also giving them incentives to declare their income by increasing the value and status associated with legitimacy. Tax evasion must be seen as shameful rather than clever, and tax payment as responsible rather than stupid. Indeed, why not give a Padma Bhushan to the country's highest income taxpayer every year as recognition of their carrying out their national responsibility?"
The government has to play a delicate role in building India for the future. "It has to make the system fair, both in appearance and actuality. A number of outcomes is possible if the government fails. One is corporatist policies, second is socialist policies and third is competitive populism. When carried to an extreme, corporatist policies lead to fascism, socialist policies to communism and competitive populism to economic crisis and chaos. All three outcomes are possible in India today," said Rajan.
Advocating that the rich must pay their fair share and declare their full income, Rajan said: "Unless far more of the rich pay their fair share, it will become easy to conflate being rich with criminal, opening the door once again to the popular confiscatory policies of the past."
Mukesh Ambani, chairman, IIM-B, and Reliance Industries Ltd, said: "As bright youths of India, you have a huge responsibility to channelize your energies and make the change, not only in India but globally. I have always believed that when talent meets opportunity, magic happens. My father Dhirubhai Ambani, too, believed in this philosophy. He used the opportunity in the 1960s and laid the foundation for today's Reliance Industries. Opportunities have always been there in India. To utilize it to the maximum, we must invest in Indian talent and learn to invest in the business of the future."
IIM-B director Pankaj Chandra had this advice for graduates: "The real road to contribution and nation-building begins today. We will be watching your (graduates) contribution. May you never be afraid of walking the difficult path."
Give Padma Bhushan to highest taxpayer: Expert - The Times of India
BANGALORE: Reward the country's highest taxpayer with the PadmaBhushan -- this was the suggestion of Raghuram G Rajan, chief economic adviser, department of economic affairs, as part of the finance ministry's strategy to broaden the tax base.
Addressing 560 fresh graduates and the 1,000-odd audience at the 38th annual convocation of IIM-B on Monday, Rajan said: "To raise resources to spend on education, food and healthcare for the poor, the rich must play their part. The government must broaden the tax base by finding and penalizing tax evaders and also giving them incentives to declare their income by increasing the value and status associated with legitimacy. Tax evasion must be seen as shameful rather than clever, and tax payment as responsible rather than stupid. Indeed, why not give a Padma Bhushan to the country's highest income taxpayer every year as recognition of their carrying out their national responsibility?"
The government has to play a delicate role in building India for the future. "It has to make the system fair, both in appearance and actuality. A number of outcomes is possible if the government fails. One is corporatist policies, second is socialist policies and third is competitive populism. When carried to an extreme, corporatist policies lead to fascism, socialist policies to communism and competitive populism to economic crisis and chaos. All three outcomes are possible in India today," said Rajan.
Advocating that the rich must pay their fair share and declare their full income, Rajan said: "Unless far more of the rich pay their fair share, it will become easy to conflate being rich with criminal, opening the door once again to the popular confiscatory policies of the past."
Mukesh Ambani, chairman, IIM-B, and Reliance Industries Ltd, said: "As bright youths of India, you have a huge responsibility to channelize your energies and make the change, not only in India but globally. I have always believed that when talent meets opportunity, magic happens. My father Dhirubhai Ambani, too, believed in this philosophy. He used the opportunity in the 1960s and laid the foundation for today's Reliance Industries. Opportunities have always been there in India. To utilize it to the maximum, we must invest in Indian talent and learn to invest in the business of the future."
IIM-B director Pankaj Chandra had this advice for graduates: "The real road to contribution and nation-building begins today. We will be watching your (graduates) contribution. May you never be afraid of walking the difficult path."
Give Padma Bhushan to highest taxpayer: Expert - The Times of India
