Latest News

  • Home
  • National
  • Abolish income tax, hike FD interest, cut it on loans: Subramanian Swamy
Abolish income tax, hike FD interest, cut it on loans: Subramanian Swamy
Monday, August 26, 2019 IST
Abolish income tax, hike FD interest, cut it on loans: Subramanian Swamy

Swamy made the remarks when asked if the steps taken by Finance Minister Nirmala Sitharaman would revive the growth.

 
 

BJP MP Subramanian Swamy on August 24 batted for abolishing income tax, hiking interest rate on fixed deposits and lowering it on loans to spur economic growth.
 
"The main thing is that the income tax should be abolished. The rate on fixed deposits should be increased to nine per cent and the rate of interest on borrowings should be brought down to nine per cent as well. If these three steps are taken, things will improve," said Swamy, talking to reporters here.
 
He said he is also coming up next month with a book, suggesting steps to spur economic growth.
 
“A lot needs to be done for the economy. My book is coming out on September 5, in which I have explained what needs to be done,” he added.
 
Swamy made the remarks when asked if the steps taken by Finance Minister Nirmala Sitharaman would revive the growth.
 
In a bid to boost economy on a five-year low, the Centre on Friday announced a slew of measures, including the rollback of surcharge on foreign and domestic equity investors, a promise to review the super rich tax on high networth individuals, exempting startups from 'angel tax', a package to address distress in the auto sector and upfront infusion of Rs 70,000 crore to public sector banks.
 
To bolster consumption, the government has also persuaded banks to cut interest rates, a move that would lead to lower EMIs for home, auto and other loans.

 
 

 
 
 
 
 

Related Topics

 
 
 

Trending News & Articles

 Article
Here is the full list of 827 porn websites banned by the DoT

While the Uttarakhand High Court has asked to block 857 websites, the Ministry of Electronics and IT (Meity) found 30 portals without any pornographic content. ...

Recently posted . 61K views . 1 min read
 

 Article
Class XII Boys Raped 16-Year-old in Dehradun School After Watching Porn on Phone: Police

The four boys as well as five school officials, including the director and principal, were arrested after the incident. The minors were presented before the Juvenil...

Recently posted . 8K views . 1 min read
 

 Article
Sept 27,2001 Rahul Gandhi and his girl friend Veronique,was arrested in Logan airport in Boston

Rahul was having an Italian passport and was carrying suitcase full of dollars. Some say it was about was it $2 million. Rahul and his girl friend was th...

Recently posted . 7K views . 7 min read
 

 Article
TOP 10 GYM EQUIPMENT BRANDS IN INDIA 2017

True – Tr...

Recently posted . 6K views . 83 min read
 

 
 

More in National

 Article
Passport Officer Rejects Hindu-Muslim Couple's Application, Asks Man to Convert to Hinduism

Shaken by the ordeal, the couple has narrated the entire incident to Union Minister Sushma Swaraj and the Prime Minister’s Office in a series of tweets, seeki...

Recently posted. 561 views . 1 min read
 

 Article
Beware of fake ticketing! IRCTC issues alert after complaints of fraud ticket bookings; details

The corporation has received two cases recently, where unauthorized tickets have been booked in the name of IRCTC.  

Recently posted. 906 views . 1 min read
 

 Article
CBSE plans two maths papers: One easy and the other tough

The rationale is that students who don’t intend to pursue the study of mathematics would be able to avoid the tag that they aren’t good at the subject i...

Recently posted. 671 views . 1 min read
 

 Video
If Rivers Could Revolt



Recently posted . 1K views
 

 Video
The Speech that Made Obama President



Recently posted . 1K views
 

 Reviews
The top players in the Indian real estate market



Recently posted . 1K views . 34 min read
 

 Reviews
Top 5 Bestseller Novels in India 2018



Recently posted . 1K views . 35 min read
 

 Article
Much of Mumbai at Risk of Being Wiped Out by Rising Seas by 2050, Says New Research

A new research says rising sea levels could impact three times more people by 2050 than previously thought.

Recently posted. 693 views . 0 min read
 

 Article
Indo-Canadian’s startup is disrupting legal industry using artificial intelligence

The legal industry may be heading for significant change brought about by technology and an Indo-Canadian entrepreneur could play a role in harnessing artificial in...

Recently posted. 802 views . 20 min read
 

 
 
 

   Prashnavali

  Thought of the Day

"Success is walking from failure to failure with no loss of enthusiasm."
Winston Churchill

Be the first one to comment on this story

Close
Post Comment
Shibu Chandran
2 hours ago

Serving political interests in another person's illness is the lowest form of human value. A 70+ y old lady has cancer.

November 28, 2016 05:00 IST
Shibu Chandran
2 hours ago

Serving political interests in another person's illness is the lowest form of human value. A 70+ y old lady has cancer.

November 28, 2016 05:00 IST
Shibu Chandran
2 hours ago

Serving political interests in another person's illness is the lowest form of human value. A 70+ y old lady has cancer.

November 28, 2016 05:00 IST
Shibu Chandran
2 hours ago

Serving political interests in another person's illness is the lowest form of human value. A 70+ y old lady has cancer.

November 28, 2016 05:00 IST


ads
Back To Top