Dear Nirmala Sitharaman Ji,
Thank you for your openness to listen to ideas towards presenting an effective budget in July. While I am not an economist, like to propose some common sense principles which when incorporated will go long way in not only uplifting India into a developed country, but also elevate the promises of NDA to the nation to a new benchmark for decades to come.
Context:
NDA convinced the majority of the voters of India on principle based leadership, nationalism, inclusiveness, socialistic reforms to alleviate poverty and social inequality etc. etc. It is a great opportunity now to nudge the entire gamut of economic activities including raw materials, production, distribution, retail, consumption, service, imports / exports, financial markets etc. etc. into a principle based leadership driven by a framework which optimises all the key variables including GDP growth, fiscal balance, monitory health, national productivity growth, global competitiveness, rationalization of both equity and equality, and most importantly the conservation and leverage of natural resources and national heritage.
The Key Proposal:
Therefore, ahead of arriving at the nitigrities of the budget proposal, it is important to lead the nation into a debate towards formation of a Reformed Taxation/Subsidy framework, which ensures the following:
* Educates the entire nation into a principle based economic agenda and associated reforms
* Empowers the economic and social circles into a constant constructive and innovative nation building process with shared vision, principles and values
* Simplifies the communication model and reform agenda due to transparency, communication, innovations and collaborations
* Sets high benchmark to the nation as to the economic agenda, thereby speeding up the journey of the nation into the ranks of developed countries
Key Enablers:
* National Taxation and Subsidy Framework driven by principles, key objectives and priorities. Shown above is a rudimentary aspect of such a framework.
* An effective interaction model with economic communities to align the national reality to such a principle based framework and identification of unforeseen exceptions and associated further reform agenda / planning
* A cabinet / PM level Assessment committee which includes independent experts as observers and advisors, constantly feeding valuable reforms at all levels: concept, architecture, design, development, testing, deployment, maintenance /enhancement and life cycle management of specific programs pertaining to reform agenda. This panel also addresses the bench-marking and standardization related global competitiveness, opportunity windows, national productivity, economic innovations etc. etc.
Some Key Features:
* Implementation of globally proven key best practices including Singpore model of taxtion, Swiss model for poverty elimination initially, but aim to become a global leader and role model for economic reforms and innovations.
* Avoid abusive or exploitative taxation mindset completely. For example, 28% GST for two wheelers is punitive. Petrol as an import could be taxed highly, but not the production, distribution and usage of essentials like two wheelers.
* Aim at reducing wastage, cost of tax collection and accounting, beauracratic and admin overheads etc. Encourage environmental conservation and leverage.
* Align national pride and heritage into a heightened economic agenda /activity. Empower the Indian economic soceity to lead the reform agenda through entrepreneurship and innovations, reduce government obstacles and oversight, automate governance and metrics.
* Let NDA stand for Economic Empowerment of Individuals and Communities nationwide. Reverse the conversation from people asking government as to what it is doing to help towards government asking people as to why not doing more as now there are no obstacles, ease of doing business, no more excuses and why not every household of India is not becoming a hub of economic activity of some sort
* Have a 5 year execution plan for the implementation of framework through the current tenure of NDA. Set benchmarks of success measures for the whole 5 year term and for each successive year. Aim very high, implement realistically, in steps, with transparency, empowerment and leadership of the world class experts and professionals committed to the cause at par with the PM and the FM.
Expectations are high as to the economic reforms through this NDA term. I am very confident that your leadership will deliver beyond expectations and do more than the justice to the trust this nation has confirmed under the leadership of Shri Narendra Modi.
Thank you Madam,
Nataraja Upadhya
An ordinary citizen of India
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