Monday, February 8, 2016

Finance Budget 2016 Suggestions - Financial Budget - No tax for new manufacturing setup above 150 crores, Separate SEZ for Indian MSME, new ombudsman for Telecom & Automobiles, Double current taxation in certain foods, more taxes to theatres which fail to sell Indian foods, separate budget allocation of 10,000 crores to handle flooding & droughts, By end of next year new 100 kms of metros approvals with funds, new 300kms of cable cars in hill stations, Complete e-Governance in FCI and all farm operations, New MNREGA – with 80% farm operations, 5% adult education in weekends in schools rest canals & lakes maintenance, New 1Lakh tax relief to setup renewable energy in homes, offices , New 1 Lakh tax relief to invest in infra funds to be newly setup by Govt, 1-2% tax for remittance max of Rs.1000

  • No tax for new manufacturing setup in India with investment of over 150 crores for 2 years from date of land allotted. Leads to faster building of facility. SEZ concept for manufacturing lacking in India to major extend. Changing or creating SEZ bill to fine companies allotted space in SEZ which fail to start operations as many SEZ are wasted as some companies have cheated state & central govt by not establishing facility and holding land and going to court
  • Separate SEZ for MSME in all states identified by state govt with central govt help of bringing power and tax concessions to move MSME from city limits to outer to expand faster. No tax for MSME which move to SEZ within 2 years constructed jointly by state and central govt. The facility must be designed by International experts with space allocated for MSME across India to expand and new MSME which complete skill development course in centres with funding from MUDRA to get necessary investment.
  • Need for separate Ombudsman body to take up cases of telecom, mobile and broadband operators. As public cannot work out the issues with appellate authority with the operator itself as the problem is with operator and need to setup ombudsman similar to RBI within 6 months to resolve issues of lack of connectivity, denied connection, lack of towers, lack of 3G or 4G signal with app and website to report complaints and issues fixed, public given fine paid by operator for failing or cheating customers leading to faster fixing of issues. Some telecom companies sell off towers to unload debt but in turn leads to public not receiving signal and poor data speeds. So ombudsman and TRAI must be informed before selling towers and if justification is not proper tower business selling should not be allowed.
  • Separate organisation for Automobile sector combined of cars, trucks, buses and allied sectors to redress concerns of automobile customers similar to TRAI with ombudsman facility.
  • Double the current taxes for wines, alcohol, aerated or soda based drinks, cigarette's, popcorn, pizza, burger, imported electronics. Customs at airports should ask all baggage to be scanned on entry into airports to increase tax collection by 20%. RBI guidelines on limit on currency carried on exit of Indian airports is not followed and no mechanism at airports to check all people currency carried in pockets, bags, shirts. Poor implementation capability of bringing in 15% revenue from this. Revenue from remittance by 1% tax or maximum of Rs.1000 for remittance into India which can be used for various Govt schemes. Changing TDS to 5% and making compulsory without any loopholes and TDS with 365 days rule instead of financial rule concept to reduce loopholes and no 15G form concept to make all pay TDS and automated deduction by banks.
  • More taxes for theatres which fail to sell fruit, milk based drinks-tea, coffee and also Indian snacks – Samosa, Pakoda to protect our culture & farmers. Currently theatres sell aerated or packed drinks and pop corn only with pressure from foreign companies and spoil health.
  • Separate 10,000 crores to fund year on year drought or flood affected states to avoid later on allocation. If not used by year end can be allotted to Rural ministry to take up pending tasks
  • Separate women commando squad in NSG, Police, RPF and army to use for women safety and deployed post 10 year tenure in security operations across country. Nirbhaya fund must be used to setup women safety app,
  • Approvals of new 100 kms of metro lines addition by end of Dec 2016. Either by expansion of existing or new projects with net investment of 20,000 crores by central Govt and remaining by states and from abroad, pension fund sources
  • New cable car project in hill station development in PPP in long run it will reduce vehicles in hills to reduce pollution. The cable cars must not be just passengers but also goods also to enable movement in tough weather also. At least 300kms of cable car projects must be given approvals across India.
  • Making e-Governance compulsory in all Food Corporation of India operations to reduce corruption in all states. All operations of Govt or agencies related to farmers must be completely automated. FCI, Food produce purchase by Govt, Minimum support price payment must be through banks account only. Making e-PDS compulsory in states of TN, Up, Bihar, Odisha, Jharkhand where there is too much leakage of funds.
  • New tax clause to invest up to 1Lakh in renewable energy with energy meter set by State & Central Govt to feed to grid by individuals & corporates in solar, wind and will lead to job openings for lakhs across India in solar and allied sectors. Making CSR optional for individuals who earn more than 30%. Increasing tax of 30% slab to 32%. The 2% used entirely for defence needs without informing in budget. No change in base tax slab as fiscal consolidation and public spending will be affected. New tax clause up to 1Lakh tax relief to invest in investment funds setup up by Govt only in both equity & hybrid mode for major infrastructure related ministries – highways, railways, power, urban, rural, Defence,  to reduce direct dependency on tax revenues to fund public infra projects. New crowd sourcing of funds for new infra projects with public & companies jointly funding portion of needs along with state & central govt funding.
  • MNREGA – Making 6 days of adult education with food provided with explanation of banking operation, maths, Govt schemes by using PC & speakers in computers & video conferencing to discuss issues 2) MNREGA to entirely usage of 80% of the days for farming activities like crop plantation as previous Govt mistake of no rule for compulsory farm activities lead to lack of labour for farm activities, 3) Revamp of Agri Engineering department with 5,000 crores with latest equipment available at free of cost to farmers to use by registration by farmers and equipment handled by Central govt staff & MNREGA 4)  New canal management authority under Agri Engineering department to maintain canals rom rivers to farm lands, dredging of rivers

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