The taskforce set up by the Goa government has recommended scrapping the state?s special economic zone (SEZ) projects. It unanimously concluded that ?SEZs are detrimental to the overall interest of Goa?. It is time all state governments follow Goa?s example, scrap SEZs and concentrate on raising the economic condition of farmers. The SEZs may have served some purpose earlier. But today, in view of widespread public disenchantment, SEZs have become an anachronism.
?VS Venkatavaradan, Salem
Taxing riddle
Our finance minister, time and again, says that India will achieve a GDP growth rate of 9%. He further says that he is thinking of tax cuts, but then qualifies this statement with many ifs and buts and provided-thats. Another pet subject of his is a direct code bill which will replace the present Income Tax Act; this code is supposed to be ready, but will be presented along with a discussion paper which is not yet ready. I do not understand the need of speaking out so frequently when everything on the subject matter is far from certain. It is estimated that direct tax collections may touch a mammoth figure this fiscal. These collections are the result of implentation of the present IT Act and other direct tax measures like wealth tax. Why is the FM so keen on replacing the present IT Act with a new direct IT code? Besides, every year, the IT Act is amended anyway by the government via Union budgets.
?SC Aggarwal, New Delhi