'Budget 2020 expectation: To open training centres'

'Budget 2020 expectation: To open training centres'

By Rajeev Kapur,

The budget for the financial year 2020 is around the corner. This year, we really hope that the government lays focus on opening training centres to impart training to the industrialists in the laws/ rules and regulations to solve all kind of commercial issues plus statuary requirements. The government should increase its budget on justice by opening more fast track courts across India as there is a need for speedy judgment on the pending cases.

The GST on computers and two-wheelers should be reduced to NIL whereas the GST on tractors should be mineralized as these are the necessity for the middle class of our country. 

Furthermore, for each and every district   the government should announce schemes so that every district can become a city. For that any plant which a particular company sets up in a district there should be no GST or income tax and they can also claim the GST input. This will facilitate double benefit.  By claiming the GST input they can take credit, there will be no GST on the products and no income tax for a period of 10 years.

Moreover there should be slabs. For example if a company has over 1000 employees recruited then they should get 20% rebate in GST and income tax . Likewise above 2000 there should be a rebate of 40%, for over 3000 it should be 60%, above 4000 it should be kept 80% and for above 5000 the rebate should be 100% . This will help uplift all the rural areas and help them come at par with the metropolitan cities. It will make our country a manufacturing hub and bring down the crime rate as every individual will become productive.

As far as the helmet industry is concerned, GST shall not be levied on helmets as they are meant for safety. Helmets are life saving device just like medicines. Therefore, just the way there is no GST on medicines so shall helmets be exempted. Moreover, unless helmets are exempted from taxes, prices will go up and the effort of the government to make the use of ISI helmets mandatory will be defeated.

Therefore, helmets should not be treated like other commodities. Every day approximately 13 people die in road accidents. Many of these deaths happen because of no or poor quality of helmets. In a country where people consider helmets as a financial burden, a zero percent GST will help to win people’s faith in good quality helmets and will induce them to buy and understand its significance.”

 

(The writer is Managing Director, Steelbird Helmets)