Wednesday, April 17, 2013

Why Spare our rich formers.?

Swapan Das Gupta rightly questions the fear of governments in India in taxing the rich formers under the above mentioned caption in Sunday Times of India on March 10, 2013.   While the corporate czars are being touched and taxed with 10% surcharge on their annual income crossing Rs. 1 Crore, he is stating that a tax on high agricultural income is an idea that cannot be resisted much longer.
While it is true that almost 80 to 90 percent of the farmers in the country comprise of small and marginal or sub-marginal farmers, a small percentage of farmers are pretty rich when they indulge in commercial including plantation and horticultural crops. Their incomes can be taken up for close scrutiny and subject to taxation without fearing the loss of vote bank by the political parties although the spokesmen of the farming community invariably happen to be the rich farmers.

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