Adopt your village of origin

Written by The Financial Express | Updated: Feb 29 2008, 05:00am hrs
I agree with the views of JS Broca (Letters, Feb 27) on the lack of vision in defining poverty. One reason for poverty and lack of basic amenities in rural India is the neglect of villages by people who were born in them and became wealthy once they migrated to big cities or went abroad. I hope that the FM, in his 2008-09 Budget, will amend the IT Act to allow any expenditure incurred by an individual to develop the village where he/she was born as revenue spending while computing income tax.

SC Aggarwal, New Delhi

Cement the gains

Surely, the FM will address serious macroeconomic issues in his forthcoming Budget. However, the following are must-dos:

1. Bring down the fiscal deficit and revenue deficit to levels envisaged in FRBM Act

2. Contain inflation

3. Ensure gainful deployment of forex reserves

4. Support infrastructure projects by cutting central exercise on steel and cement

5. Withdraw dividend distribution tax, as it amounts to double taxation, and surcharge on income tax

6. Prepare a roadmap for eliminating subsidies

7. Increase the IT exemption limit for individuals.

R Gopalakrishnan, Vishwamber Cements Ltd

Music diplomacy

Hopefully, music will lead to a thaw in relations between North Korea and the US (World view, Feb 28). Cricket helped forge better Indo-Pak ties. If successful, music diplomacy can serve as a good model for others, such as the US and Iran, Turkey and the Kurds, or Israel and Palestinians.

Rajendra K Aneja, Dubai