HT Image
HT Image

Left to Govt: Don't be obsessed with growth rate

They asked the government not to be "obsessed" with the growth rate and instead the upcoming budget should concentrate on redistributing the benefits of growth to all sections of society.
By HT Correspondent | IANS, New Delhi
UPDATED ON FEB 07, 2008 09:41 PM IST

Upping their ante against Prime Minister Manmohan Singh's government, Left parties on Thursday asked it to do away with the "exorbitant" tax exemptions in special economic zones (SEZs), revise the tax structure and to provide more funds for welfare schemes.

They also asked the government not to be "obsessed" with the growth rate and instead the upcoming budget should concentrate on redistributing the benefits of growth to all sections of society, particularly the socio-economically weaker sections.

Criticising that the United Progressive Alliance (UPA) government has not fulfilled the commitments it has given in the mutually agreed Common Minimum Programme - the agenda for governance - the four Left parties presented their wish list ahead of the coalition government's fourth budget presentation this month. Communist Party of India-Marxist (CPI-M)-led Left parties support the UPA government from outside.

"Budget 2008-09 should make wholehearted attempt in order to tackle the persisting problems faced by the people, the agrarian crisis, unemployment and price rise," CPI-M general secretary Prakash Karat told reporters here at a press conference jointly addressed by the Left leaders.

"Resources have to be mobilized by taxing profits and capital gains, which are increasing at rates many times faster than the overall growth of national income," Karat said.

Despite the sharp divisions in the Left Front over the Communist-led government's industrial policies in West Bengal, where the differences took a bloody turn earlier this week after the police firing killed activists of one of its ally Forward Bloc, leaders of all the four parties were present at the press conference.

Although they expressed their unhappiness over the government's decision not to call them for a pre-budget discussion, like in the first two years of the UPA government, the leaders said they would attend the dinner hosted by the prime minister for the UPA and its allies Thursday night.

The Communists reiterated their long pending demand that the rich and the affluent sections as well as the corporate should be taxed more.

"Myriad tax concessions to corporates and affluent sections, which are nothing but subsidies to the rich, should be progressively eliminated in the backdrop of growing income inequalities."

The Left sought to constitute a Farmer's Debt Relief Commission and to write off debts for small and marginal farmers across the country. It also asked the government to raise the food subsidy, increase the allocation for health and education and other welfare schemes.

Karat said the government should now initiate its efforts to extend the National Rural Employment Guarantee Act (NREGA), which provides 100 days job for the able bodied person in rural families, to the urban areas too. The NREGA, which was introduced in 250 districts, will be extended to all rural districts from April 1 onwards.

"The re-introduction of the long-term capital gains tax and an increase in the rate of short-term capital gains tax will correct the anomaly in the taxation structure, which has led to inflows of speculative capital in the stock market causing high volatility," the Communists said.

SHARE THIS ARTICLE ON
Close
Prime Minister Narendra Modi.
Prime Minister Narendra Modi.

Most powerful way to fight climate change is to change our behaviour: PM Modi

UPDATED ON MAR 05, 2021 07:20 PM IST
Addressing the event virtually, Modi dedicated the award to the people of India and to the glorious tradition of the country that has shown the way when it came to caring for the environment.
Close
"We will fight for a respectable number of seats to keep the morale of the Congress men very high," Moily said. In picture - Congress leaders K.S. Alagiri (left), M. Veerappa Moily (right) and Dinesh Gundu Rao (centre).(PTI)
"We will fight for a respectable number of seats to keep the morale of the Congress men very high," Moily said. In picture - Congress leaders K.S. Alagiri (left), M. Veerappa Moily (right) and Dinesh Gundu Rao (centre).(PTI)

Congress will fight for respectable number of seats from DMK: Veerappa Moily

PTI, Chennai
PUBLISHED ON MAR 05, 2021 06:58 PM IST
Senior Congress leader M Veerappa Moily, who had earlier stated that there was no stalemate in the talks and that differences would be sorted out, said his party was taking a firm stand on the matter.
Close
Peoples Democratic Party president Mehbooba Mufti.(PTI File Photo)
Peoples Democratic Party president Mehbooba Mufti.(PTI File Photo)

ED summons Mehbooba Mufti in money laundering case on March 15

UPDATED ON MAR 05, 2021 07:37 PM IST
The Enforcement Directorate (ED) on Friday issued summons to former Jammu and Kashmir chief minister Mehbooba Mufti to appear before it on March 15 in connection with a money laundering case, officials said.
Close
Vijay Mallya is wanted in India to face charges of defrauding a consortium of banks of more than a billion dollars in relation to the collapse of Kingfisher Airlines in 2013. (FILE PHOTO).
Vijay Mallya is wanted in India to face charges of defrauding a consortium of banks of more than a billion dollars in relation to the collapse of Kingfisher Airlines in 2013. (FILE PHOTO).

UK knows urgency in Mallya's case, extradition linked to legal process: Envoy

PUBLISHED ON MAR 05, 2021 06:28 PM IST
  • The UK home secretary signed off on Mallya’s extradition to India more than two years ago but his return to India has been held up because of secret legal proceedings, according to the British government. Mallya is learnt to have applied for asylum in the UK.
Close
DRDO in a statement also said that only a handful of countries have such a technology after successfully tested a flight demonstration based on Solid Fuel Ducted Ramjet (SFDR) technology. (DRDO/PIB)
DRDO in a statement also said that only a handful of countries have such a technology after successfully tested a flight demonstration based on Solid Fuel Ducted Ramjet (SFDR) technology. (DRDO/PIB)

DRDO successfully tests SFDR technology in a bid to develop long-range missiles

By hindustantimes.com | Edited by Shankhyaneel Sarkar, Hindustan Times, New Delhi
PUBLISHED ON MAR 05, 2021 06:27 PM IST
  • It said that the test was carried out using a booster motor to simulate an air-launch scenario. The nozzle-less booster propelled the missile to the required Mach number for Ramjet operation.
Close
The Bailey bridge was inaugurated on Thursday.(ANI Photo)
The Bailey bridge was inaugurated on Thursday.(ANI Photo)

Bridge in Uttarakhand, washed away in flash flood, rebuilt in 8 days

By hindustantimes.com | Edited by Amit Chaturvedi
PUBLISHED ON MAR 05, 2021 06:03 PM IST
The Uttarakhand flood was triggered after a chunk of a glacier - which experts said was 15 football fields long and five across - broke off from the main structure and fell into a small river.
Close
Union Finance Minister Nirmala Sitharaman added that the minimum threshold for initiating IBC proceedings has already been raised from <span class='webrupee'>₹</span>1 lakh to <span class='webrupee'>₹</span>1 crore, which largely insulates MSMEs.(ANI file photo)
Union Finance Minister Nirmala Sitharaman added that the minimum threshold for initiating IBC proceedings has already been raised from 1 lakh to 1 crore, which largely insulates MSMEs.(ANI file photo)

I-T raids on Taapsee, Anurag Kashyap: FM says they were raided in 2013 too

PTI, New Delhi
PUBLISHED ON MAR 05, 2021 05:38 PM IST
Refusing to comment on individual cases, she said it is in the national interest to know if some evasion is happening.
Close
Jammu and Kashmir National Conference leader Farooq Abdullah. (PTI)
Jammu and Kashmir National Conference leader Farooq Abdullah. (PTI)

Farooq Abdullah questions ED order in alleged money laundering case

PTI
PUBLISHED ON MAR 05, 2021 05:26 PM IST
The former Jammu and Kashmir chief minister challenged the December 2020 order before the high court on Wednesday. It is scheduled to come up for hearing later Friday.
Close
Ramesh Chennithala denied allegations that the Congress party has weakened in Kerala. In picture - Chennithala (extreme left) arrives for a meeting with the party leaders.(PTI)
Ramesh Chennithala denied allegations that the Congress party has weakened in Kerala. In picture - Chennithala (extreme left) arrives for a meeting with the party leaders.(PTI)

Kerala Assembly Poll 2021: Congress says UDF seat-sharing talks on ‘last lap’

By hindustantimes.com | Written by Srivatsan K C, New Delhi
PUBLISHED ON MAR 05, 2021 05:12 PM IST
“Seat sharing talks are progressing. We are on the last lap. We will finalise the list by today or tomorrow," Congress leader Ramesh Chennithala said.
Close
File photo of Punjab chief minister Captain Amarinder Singh.(HT Photo)
File photo of Punjab chief minister Captain Amarinder Singh.(HT Photo)

Punjab passes resolution demanding unconditional withdrawal of farm laws

By hindustantimes.com | Edited by Amit Chaturvedi
PUBLISHED ON MAR 05, 2021 05:06 PM IST
Earlier, the members of the Shiromani Akali Dal (SAD) created uproar in the assembly when the chief minister was replying to the Governor's address.
Close
Tourism sector association says restrictions in Himachal are the most stringent in the country and this was not only causing revenue loss to the government but also resulting in job losses and near collapse of the hospitality industry.(HT File)
Tourism sector association says restrictions in Himachal are the most stringent in the country and this was not only causing revenue loss to the government but also resulting in job losses and near collapse of the hospitality industry.(HT File)

Pandemic-induced job losses ate up 13 lakh crore of household income: Report

PTI
PUBLISHED ON MAR 05, 2021 05:06 PM IST
Though general economic activity is back to the pre-pandemic level, the key question is if this growth momentum can be sustained as the composite economic indicator has plateaued in January after recovering swiftly in the prior two quarters.
Close
Congress leader Karti P Chidambaram.(ANI)
Congress leader Karti P Chidambaram.(ANI)

News updates from HT: Karti Chidambaram wants Priyanka Gandhi in TN bypolls

By hindustantimes.com, New Delhi
PUBLISHED ON MAR 05, 2021 05:03 PM IST
Here are today’s top news, analysis and opinion. Know all about the latest news and other news updates from Hindustan Times.
Close
The second and the third "Shahi Snan" are slated for March 9 and 13(AP)
The second and the third "Shahi Snan" are slated for March 9 and 13(AP)

Release more water in Yamuna, priests appeal to PM Modi ahead of Vrindavan Kumbh

PTI, Mathura
PUBLISHED ON MAR 05, 2021 04:59 PM IST
While the arrangements made for the Vrindavan Kumbh by the government of Uttar Pradesh are commendable, the polluted Yamuna water mars the efforts, the outfit's president, Mahesh Pathak, said.
Close
Representational Image. (HT file)
Representational Image. (HT file)

25 students of govt boarding school test Covid positive in Rajasthan’s Udaipur

By Sohail Khan
PUBLISHED ON MAR 05, 2021 04:53 PM IST
Chief medical officer Dinesh Kharadi said 80 students and 10 staff members of the school were tested after a teacher tested positive for the disease. He added the students who tested positive have been kept under isolation
Close
The decision to hold the Quad summit soon after the Joe Biden administration takes charge indicates that the security dialogue has been institutionalised.(Agencies)
The decision to hold the Quad summit soon after the Joe Biden administration takes charge indicates that the security dialogue has been institutionalised.(Agencies)

As China eyes Taiwan and beyond, Quad's Indo-Pacific agenda takes priority

By Shishir Gupta, Hindustan Times, New Delhi
UPDATED ON MAR 05, 2021 04:56 PM IST
  • The Quad Summit will be US President Joe Biden’s first interaction under the diplomatic and security initiative revived during the Donald Trump era as a buffer against Beijing
Close
SHARE
Story Saved
OPEN APP