Forum Anger against Mrs Nirmala Sitaraman
The cost of higher education and professional degrees is too high. But when they start earning, they are punished for high earning as if high income is a punishable offence. The pain is aggravated when the returns are poor. Rather they are negative unless rules are broken at convenience. On a humble flat in Delhi or other state capital the buyer has to pay close to 3 Crore including registry charges. The buyer has to take a loan for it and pay instalments for 20 years. The cost of a professional degree comes for more. They are called the national talent pool- in whom the politician is always quick to take pride, especially in international fora. Is such a pool entitled for reimbursement of this huge financial investment in acquiring high skills and education? They are, regrettably, penalised for it by high income tax leaving little to service the education loan taken. They were expecting a new Finance Minister this time but Smt Nirmala Sitaraman is back again! The approach of the Finance Ministry has been anti-growth, devoid of innovative initiatives, outdated mostly. Talent has long been driven out of the country. The Finance Ministry never regretted such flight of talent/brain drain. It is absurd to take pride in Indians heading the world’s top MNCs abroad. They could have done it in India also provided the Finance Ministry ever thought out of the box. The nation suffered on research and development, invention and innovation, manufacture and patent etc. A person worried about finances and living the life of a middle class person can’t afford to think highly about such issues and if s/he decides to fly away for high remuneration and growth opportunity, nobody can complain. Our national loss is their gain without investment. Can the finance ministry change income tax laws and its attitude to the wealth creators’ pool? Education abroad costs India billions. The money spent could have created newer educational institutions to meet the requirements. If the new government ignores the demand for huge income tax relief to make the ROI for self-financed higher/professional education financially sound, contribution to make India World’s Third Economy and Viksit Bharat can’t be accelerated.
M L Gupta