The Financial Express -- Expressions

Expressions

This page contains Editorial and Op-Ed articles

Sunday, May 25 1997

Letters to the Editor

Nation's fiscal laws at the cross-roads One more committee has gone into restructuring direct tax laws. The expert group had submitted its report even before the presentation of the Union Budget. Indeed, it was on the basis of its recommendation that a radical departure was made in the latest Budget in the matter of exempting company dividends from taxation in the hands of the shareholders and levying a 10% tax instead on the distributed profits in the hands of the company.		Infrastructure Bond Issue
The case of a spectacular bill Before he retired, Justice Arun Kumar Dutta of Calcutta had his priorities right. He had to buy spectacles for himself and his wife and daughter. And then he had to send the bill for reimbursement. Which he duly did. It was a paltry bill for Rs 39,000. The accounts men felt otherwise. They are trained to detect a point for objection, even where it does not exist, in every bill and they were not willing to clear right away Justice Dutta's spectacular bill.	Going global via self-reliance Any measure that gives even the farthest hope of indigenous technological muscle being strengthened must be welcome even in these days of globalisation. This is all the more so in the developing countries. In that respect, certain recent technological breakthroughs in India and Malaysia are heartening. The involvement of private sector companies in the exercise should satisfy the market-wallahs. As for India, the development pertained to unmanned aerial vehicles (UAVs).

INDIALINE

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