gÉÉŌ A.]ÉŌ. xÉÉxÉÉ

03.08.2010
Communist manifesto starts 'A spectre is haunting Europe, the spectre of
communism....' The same spectre is haunting the Indian Communists.
With the above background, let me call the attention of this August House to
the allegation that the de-regulation is to suit the corporate lobby. Nothing is more
misleading than this false propaganda. Some newspapers have gone to the extent
of spreading falsehood that concessions of lakhs of rupees were awarded to
corporate sectors in Pranab Mukharjee's budget. One journalist wrote on the pages
of the Hindu daily that 5 Lakhs crores of rupees were written off for the corporate
sector. Nothing is more absurd than this. When the total revenue tax collection is
7,46,651 crores, how lakhs of rupees can be given as concession to the corporate
sector? In 2009-10, corporate tax collection was 2,45,855 crores. Now the false
propaganda is that only the corporate houses and the rich are benefited by the UPA
government. Ours is a changing market economy with the visions of inclusive
growth. India's present priorities are social legislations with the sole aim of
upliftment of the poor and needy. When the country grows, every section grows
and the rich also grows and they have to pay for their growth into the treasury. In
the 1980's the indirect taxation revenue was 80% while direct tax was only 20%.
In 2010 the revenue of the government of India has improved by leaps. Now about
50%) of the tax revenue is derived from direct taxes and the rich people in the
country is paying a huge amount to the treasurery. This is the major contributing
factor for the country for implementing progressive legislation. In this year's
budget, tax expected from corporate sector is more than 3,01,335 crores. So from
direct tax which is progressive taxation the corporate sector is also paying to the
country’s exchequer. Where does all these money go? The budget of UPA
government 2010-2011 shows that a sizable portion of the revenue is earmarked
for the common man.
• 46%) of the plan out lay is for infrastructure development that is
l,73,552ores
• Social sector 1,37,673 crores
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