- Published: 16 February 2014
Mangalore : In an interaction and a lecture on the current taxation policy and the issues related to money laundering and corruption Anil Bokil, pioneer of ‘Artha Kranti’ (an economic reform policy that has received wide recognition) delivered a lecture on Vision NaMo to strengthen Indian economy at T.V Raman Pai hall on January 28 organized by NaMo Brigade.
The country needs a strong economic policy and needs a revision. Taxes need to be withdrawn; a tax less economy can prove beneficial to the masses and the financial institutions. Speaking in depth about the current state of economic affairs Anil Bokil stressed the need for economic rejuvenation. The country has vast resources which do not even reach the common man. The money is diverted half way through and paves way for generation of black money.
Corruption is unstoppable and Black money is untraceable which are posing threats to Indian Economy.
Arthakranti has suggested bank transaction tax (BTT) on any receipt of payment through bank transaction and withdrawal of existing taxation system except for customs or import duties. Arthakranti as the name suggests wants to bring in total economic revolution which would have adequate capital flow, increased use of banks and less monetisation, adequate money for government which would result in reducing the threat of terrorism as well as internal security matters.
· Withdrawal of all kinds of taxes except for import duty
· Transaction tax which is single point tax deduction at source
· Withdrawal of high denomination currency (Maybe above Rs50)
· No tax on any cash transaction
· Legal provision to keep an upper limit on cash transaction
M. R Vasudeva and Kumble Narasimha Prabhu too shared their views on the need for revamp of economic policies.
M.R. Vasudeva, the President of Mangalore Management Association highlighted the development of Gujarat in general and Ahmadabad in particular. He explained the various factors that lead to the development of the capital that he witnessed during his service in Gujarat. He also said that a country needs visionary and only when a leader is driven by will power he would be able to drive the nation.
Kumble Narasimha Prabhu , Past president of KCCI&I touched upon various taxation policies that have been burning a hole in the pockets of the common man .He also stressed that despite economic policies many were unable to understand the inflow and outflow of money.
The seminar was followed by a Question and answer session. Leading CA’s, advocates, doctors, students were present.
Naresh Shenoy, state convenor, NaMo Brigade presented mementos to the guests. He said NaMo Brigade has always been striving hard to create awareness about the current economic policies and reforms that Narendra Modi can bring in if he would be the PM in the upcoming elections. He also assured that people of the district are likely to experience a different kind of talk in the days to come.