'Cheque' mate

Speaking on tax reforms at the Administrative Staff College of India in Hyderabad on Friday, Revenue Secretary Sunil Mitra grumbled that the media had misinterpreted his opinion on tax refunds. He was not, he clarified, opposed to refund payouts, he merely wanted them moderated so that the payouts did not unduly impact the government’s cash management. It was better to wait till money came in before meeting those obligations. Why should the government borrow money at 8 per cent to make payouts when it has to pay only 6 per cent interest on refund dues, he reasoned. Later, when someone in the audience complained that he was yet to receive refunds for the past two years, Mitra retorted that he hadn't received his refund cheque either.