Key Points
NEW DELHI: Having taken care of poor farmers by transferring funds into their accounts, the government can contemplate imposing. income tax. on rich farmers to bring about fairness in the taxation structure, Reserve Bank Monetary Policy Committee (MPC) member..
Finance Minister Nirmala Sitharaman will present the interim Budget on February 1 in the Lok Sabha.. to farmers are like a negative income tax...
Asked if coalition governments or single-party regimes produced better economic growth rates, the eminent economist said growth rates depend on many things, but in judging a government it is also necessary to see what growth rate they inherited and what they left the country with..
But they tend to favour policies that deliver short-run rewards for their constituents, which hurt growth in the long-run," she said.. Goyal noted that a single-party government can carry out measures that enable sustainable long-run growth but it must be open to constructive criticism and feedback from different groups in order to avoid taking wrong decisions..
India has a good mix of a vibrant private sector as well as enabling government initiatives, she said.. "It (India) can get rich before it gets old if productivity raising innovation is stimulated," she said, adding that this requires well-designed government facilitation of private freedoms and capabilities, safeguarded with intelligent regulation..
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