Dear Editor,The recent decision of Poland to scrap income tax for the young workers has once again focused attention on the practical utility of taxation in the growth and development of a nation. Some leading economists of our country including the Harvard educated Subramanian Swamy who has been vying for the post of finance minister since NDA came to power in 2014 have strongly supported the idea of total scrapping of the income tax in the country. Their view has two main postulates: One is once of the income tax is scrapped; there would be no need for tax evasion or tax theft. People with extra money would be inclined to invest it in the country thus pushing the growth further. Secondly, the money lost due to the scrapping of the Income-tax can be compensated by the auction of several natural resources like 5G spectrum coal auction, etc in a transparent method. Although the dominant view remains that taxation forms the backbone of the modern economy, yet the idea of the other section advocating total scrapping of the Income-tax should not be ruled out completely especially with some countries opting for planned tax abolition. Rohit, Jammu.
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