For years IE has been lamenting over the incredibly small percentage of population filing income tax returns and fewer still paying personal income tax. It is something sad: for a population of 126 crore, just a little over a crore should pay income tax. We have also been contrasting this with the visible signs of prosperity in terms of the boom in the sales of automobiles, housing property, foreign travel, etc. We have been suggesting progressive targeting to take IT payees to at least 30 per cent of the population over three years.
A tax non-compliance society...We are happy over the emphasis made byFinance Minister Arun Jaitley on expanding the income tax base and correspondingly correcting the very low tax-GDP ratio. Look his graphic description: •As against estimated 4.2 crore persons engaged in organised sector employment, the number of individuals filing return for salary income are only 1.74 crore.
Jallikattu is an emotive issue on the right to preserve the culture of Tamils. For long such protests by large sections of Tamils have been focussed on emotive issues like imposition of Hindi, Sri Lankan Tamils, etc. Student power should also be directed towards correcting the several issues relating to development.
In 1949-50 Indian production of potato was 1.54 million tonnes. Last year it was close to 50 million tonnes. From using potato as a table subzi, it is increasingly processed into chips, French fries... An IIT Chemical engineer has developed varieties for making aloo tikki! PepsiCo value adds potato procured in bulk at around Rs 6 per kg by processing it into ruffles and sells it at Rs 380 per kg!
IE, the business magazine from south was launched in 1968 and pioneered business journalism in south. Through the 45 years IE has been focusing on well-presented and well-researched articles. When giants in the industry stumbled to keep pace with the digital revolution, IE stayed affixed embracing technology.