New Delhi, 28 September: The Union Home Minister, P. Chidambaram Wednesday said that the rich should be taxed more.Chidambaram, a former finance minister in the government between May 2004 and November 2008, but said that many people do not like it. All India Management Association, addressing a function here Chidambaram said: "We need to raise tax revenues to protect (the expected decline in total resources), I know that many people do not like it, but I guess I can not recall the courage to speak ... "
"I am (was) the Chancellor, who cut their prices. ... So you must be willing to pay higher tax rates, especially in the rich must be prepared to pay higher taxes," he said added.Chidambaram, finance minister who was credited with giving the country a "dream budget" the early years of his time in Europe outside the rich people come together to say: "Please tax us more." Chidambaram also said that poverty must fall faster and faster than the current one per cent if the country is to achieve inclusive growth in the future. Inclusive growth is very much focused on India 12 five-year plan.
Indian economy has witnessed a steady growth in recent years. But the country's agricultural sector has yet to grow and take advantage of the rapid pace of poverty reduction has not reached the beneficiaries. People have no access to health care institutions and the economic and social infrastructure is not yet developed. "Poverty should be reduced. The speed of poverty reduction during the first years of liberalization was about 0.8 percent a year. We believe that this has now been reduced to about one percent per year. Against poverty to be reduced more quickly," says Chidambaram. "So, a lower incidence of poverty and the decline in poverty is an important indicator of inclusive growth," he added.
Although the direction of the present Indian government towards faster and more inclusive growth 11 clearly expressed in the subject and 12 Five-year plan, the need to find a sustainable balance between economic growth and social inclusion has become much more important than ever before.In In fact, several countries have shown significant improvement in the 11-year plan.
"For years, few countries in central India classified BIMARU States, a very strange word, but caught the fact that they include Bihar, Madhya Pradesh, Rajasthan, Orissa, but a happy development is that the states of Bihar, Orissa, Assam, Rajasthan, Chhattisgarh, Madhya Pradesh, and to some extent, the Uttarakhand, Uttar Pradesh reported higher growth in the 11th Plan period, more than ever, "said Chidambaram.
"In fact, some of them showed a higher growth rate than even the so-called developed countries," he added.The biggest challenge before the government is to achieve inclusive growth and to ensure that opportunities are available to all. "The early years of economic reforms and liberalization, it was emphasized, and I think rightly growth when we need to get rid of our belief that India can not grow more than five percent or so, and that reforms and liberalization, greater transparency and competition in India can grow at 8-9 percent, but it's something we need to think about before we would have achieved, "says Chidambaram.A World Bank report in May said that attempts by the Indian government to fight poverty not be able to get the desired result and aid programs were characterized by corruption, poor management and under-payments.
