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Showing posts from July, 2019

How National Housing Bank is stonewalling the implementation of the PMAY

Pradhan Mantri Awas Yojana (PMAY) was launched by the Government with a view to provide affordable housing in rural and urban areas so that the people who are eligible under the scheme can purchase a house by availing the loans from the Banks and other Financial Institutions at concessional rates by availing the Credit Link Subsidy Scheme (CLSS). Most of the Government schemes started or launched for the welfare of the people are not implemented by the Government agencies with the same spirit, with which these schemes are launched by the Government, defeating the very purpose for which these schemes were launched and hence the benefits of these schemes are denied by these implementing agencies to most of the eligible people. I would like to elaborate this indifferent attitude of the various implementing agencies with the help of one true example. One unmarried women, having her independent source of income, was allotted the LIG Flat by the Delhi Development Authority. The Fla

WHY AGRICULTURAL INCOME IS TAX FREE IN INDIA WITHOUT ANY LIMIT ?

Agricultural income  earned by a taxpayer in India is exempt under Section 10(1) of the Income Tax Act,1961 .What is more shocking and surprising is that this so called agricultural income is tax free without any limit. You can have unlimited amount of agricultural income without paying even a single rupee towards income tax. While income tax is levied on all types of incomes from all the persons, why Government is not imposing any income tax on agricultural income, is a million dollar question. Some people are under the wrong impression that our Government is very considerate and sympathetic towards the farmers community and do not want to impose income tax on agricultural income of farmers. However, this is completely untrue. Had it been the intention of the Government to provide the relief to farmers by not subjecting them to income tax, it could have been done by fixing a threshold for tax free agricultural income. If some type of income is made completely tax free without an

WHY CRUMBLING SMART CITY MISSION NEEDS URGENT INTERVENTION FROM PM MODI ?

The ambitious Smart City Mission was one of Prime Minister Narendra Modi's key electoral promises in 2014. The scheme, launched on June 25, 2015, aimed to develop 100 cities across the country, making them citizen-friendly and sustainable. The total proposed investment in the selected cities under the scheme is over Rs 2.05 lakh crore. But according to government data, a mere 33% of the total 5,151 Smart City Mission projects have been completed or are under implementation, utilising 25% of the envisaged investment. Under the Smart City Mission,it was decided to form a Company for each smart city, in which the State/UT and the Urban Local Bodies,will be the promoters having 50:50 equity shareholding. With so much Government money involved in these projects, it was expected from the Ministry of Housing & Urban Affairs that it will keep a close watch on the implementation of the Smart City projects, but unfortunately ministry has miserably failed in monitoring the smart cit