Does the Union finance ministry follow a rational taxation policy? Apparently, that looks doubtful if one compares its approach to two sectors: petroleum, and diamond & jewellery. The Union government collects staggering amounts of money from the oil sector as customs and excise levies. Lately, to soften the oil price hike?s blow, the ministry reduced the tax burden on the sector. Yet, there is virtually no duty on import of rough/polished diamonds or on the manufacture of jewellery whose combined market size is huge. The taxation system in India is lopsided, with sizeable benefits extended to certain sectors at the expense of critical others.
HV Patel Mumbai
Take the lead
It?s sensible that the PMO leads from the front to tackle project delays which is one of the biggest impediments in the way of our development (?Tata & bye, bye, June 27).
?J Anand Menon Kochi