Apropos the report, "Govt buries EPF tax", I wonder why the government did not think through and consult stakeholders before proposing the tax in the first place?
Having said that, the National Democratic Alliance government accepted the people's request graciously and reversed the decision within a week of presenting the Budget proposal.
The government has the right intention when it says that it wants to build a pensioned society. The bigger problem is the lack of adequate health care services for retired people, compared to the system, say, in the USA.
Like the Public Provident Fund, the National Pension System should come under the exempt-exempt-exempt tax bracket, so that it would be preferred as much as the former is by the middle class. Hopefully, this issue will prompt the government to focus on strengthening social security benefits.
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Having said that, the National Democratic Alliance government accepted the people's request graciously and reversed the decision within a week of presenting the Budget proposal.
The government has the right intention when it says that it wants to build a pensioned society. The bigger problem is the lack of adequate health care services for retired people, compared to the system, say, in the USA.
Like the Public Provident Fund, the National Pension System should come under the exempt-exempt-exempt tax bracket, so that it would be preferred as much as the former is by the middle class. Hopefully, this issue will prompt the government to focus on strengthening social security benefits.
Bal Govind Noida
Letters can be mailed, faxed or e-mailed to:
The Editor, Business Standard
Nehru House, 4 Bahadur Shah Zafar Marg
New Delhi 110 002
Fax: (011) 23720201
E-mail: letters@bsmail.in
All letters must have a postal address and telephone number