Reaction on PM’s Relief Package by Ramesh Kejriwal,CA
CA RAMESH K KEJRIWAL,
Economist & Senior Tax & Finance ConsultantBHUBANESWAR:Prime Minister Sri Narendra Modi has made historical announcement of 20:20 referring to 20 Lakh Crores in the year 2020 as Rehabilitation package which is ATMANIRBHAR BHARAT RELIEF PACKAGE balancing the Economy of India which is dented due to Global Pandemic COVID 19 Virus. The package is 10% of GDP which is also historically highest for India as well as compared to other countries of the world. This will definitely help the Micro, Small, Medium Enterprises as well as khadi Industries badly affected due to Pandemic. The salary class persons , Farmers, state Labourers & prabasi labourers, small shop keepers & almost for all sectors & majority people of India will be benefited no doubt but the source & availability of such big fund is not disclosed by PM. Again when the country revenue collection is in downward trend the arrangement of fund may be difficult. Materiality of Such big Announcement may be in vocal & in pen & papers only cannot be Ruled out. It is important to note that the Government may retort to Collect tax by unprecedented way by pressing the tax Officer to fixing the target & to achieve it by issuing Scrutiny Notices , unnecessary investigation , raid etc again it will be detrimental to growth of business & industrial sectors. Also the Government may Increase of Tax on the products may lead to inflation & overburden on the people of India. MOREOVER The Vision of PM to encourage the prominence & promotion of manufacturing in India & to buying of Indian or domestic products for use & consumption by people of India is Nice advice of the PM. The Vision of PM for 5 Pillars necessary for Economic Development of India I.e Economy ,infrastructure, Tech Driven system, Demography, Demand is very important one to bring back the derail economy in to the Line
