Saturday 15 December 2018

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Economy | Finance

Goa demands share in IT collection

 

Finance Secretary P Krishnamurthy receiving Dr Y V Reddy, chairman of 14th Finance Commission

The Goa government on Wednesday suggested that a partial component of the income tax can be diverted towards the state which will promote generation of central taxes in its coffers.

According to Chief minister Manohar Parrikar the move will give liberty to the state government from imposing professional tax, an idea which was earlier mooted but was out rightly rejected by the public.

Terms like professional tax sound derogatory, so the collection from income tax component will contribute for the revenue, he said.

"Out of 30 percent income tax collected let 28 per cent go to be Centre and two percent remain with the state," he suggested emerging from a discussion with the Finance Commission members in a resort in Panaji.

The state government in its memorandum before the Commission members suggested that the tax allocation to Goa should increase from 0.26 to 0.48 per cent.

 

"We had allocation of 0.48 per cent during 1964-65 but subsequently it was decreased. We are now demanding that it should be raised," Parrikar said.

Goa government has asked Centre to consider population based on density while allocating the funds.

While taking into account the area of state, areas like wildlife sanctuaries, national parks, forests and coastal regulation zone areas should be removed from the calculation.

"Half of Goa is such areas," he said. Parrikar also said that the parameters like mobile population, high green areas should be given 25 per cent weightage.





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It is time Goa Government(via the Union Govt.) went after all the Black Money stashed in Foreign Banks by many of its MLA & Bureaucrats.



It would also be in the interest of Goa Government to investigate its own Ministers & Government servants, that have huge accumulations of wealth, much often dis-proportionate to their sources on Income.

As soon as most Goan MLA`s are elected to the Legislature they become "Magicians".

At the deft click of their fingers and uttering of a few magical words, they are able to transform their wealth overnight.

Magicians pull pigeons/doves from their hats as part of their repertoire....Goan MLA`s pull Crores of Rupees from theirs.....overnight.

Many of the Goa MLA`s, instead of Administering Goa are busy administering their Bank accounts and portfolios of immovable wealth.

 
N.Fernandes , London

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