Not business as usual
Budget 2017-18 is probably the most brilliant economic and political document since the path-breaking budget of 1991
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Budget 2017-18 is probably the most brilliant economic and political document since the path-breaking budget of 1991
A meaningful reduction in effective corporate tax rates to around 20 per cent is the correct follow-through to the logic, and pain, of demonetisation.
The finance minister can cut everyone’s tax burden, even pay the poor, and be revenue neutral by cutting sops
The economy provides scope and demonetisation, the rationale for a flat income tax rate and a negative income tax for the poor and the needy.
A political and economic masterstroke would be for the Union budget to contain a basic income scheme for the bottom 50 percent — the poor and lower middle class
Make no mistake — demonetisation is an important first step in what will be remembered as India’s biggest reform.
Conservative intellectual rightness is no different from classic liberal thought, a definition that excludes the Left intellectuals, but includes the Right liberals
Rumours of even a 1 percentage point decline in GDP growth for 2016/17 are vastly exaggerated, have no basis in logic or fact.
Demonetisation will have no benefits if the government does not follow up with tax reforms, reduce discretionary powers of bureaucrats and reform election laws