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Fiscal deficit due to tax concessions to corporates: Yechury

Published

10 years ago

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Kolkata: Claiming that India’s fiscal deficit was only because of the huge amount of tax sops doled out to the corporates, CPI-M leader Sitaram Yechury Monday contended that the concessions were actually turning out to be counterproductive and leading to a rise in inflation.

“Every year we give over Rs.5 lakh crore of tax benefits to the rich and corporates in India. If the whole tax benefit is added, India will not have any fiscal deficit. Last year the tax concessions given were Rs.5.67 lakh crores while the fiscal deficit was Rs.5.29 lakh crores. So, the fiscal deficit is only because of the concession given to the rich,” he claimed.

The Communist Party of India-Marxist politburo member claimed that the corporates, instead of investing in production, were putting the money in speculation leading to inflation.

“The corporates don’t invest in production because there is no domestic demand as people don’t have the money to buy the goods. So what do they do with the money, they buy gold and foreign exchange and invest in real estate leading to inflation and fall in the Indian rupee,” he said.

“Because of these investments in real estate, the stock exchange is booming despite economic growth being zero. Instead if the money is used for building infrastructure, schools, hospitals, creating jobs for the youth, a new India would be created,” said Yechury, who is also a Rajya Sabha member.

Delivering the first Satyendranath Majumdar Memorial Lecture on “100 Years of the First World War”, organised by the All India Peace and Solidarity Organization, Yechury also accused the Narendra Modi government of not passing on the benefits of falling crude oil prices, to the common people.

“The Modi government has been lucky in the respect that from $115 a barrel, the prices have fallen close to $70. But you and I have not been benefitted, despite the centre collecting Rs. 70,000 crores more by raising excise because of the fallen prices,” he said.

“The quest for global hegemony which lead to the World War I, continues to fuel conflicts across the world. While the World War I was described as a war to end future wars, in reality, it heralded an era of perpetual wars.

“The reasons behind the first and the second world wars, I am afraid to say, will continue to be effective, so long as US continues to feel that its hegemony is complete and absolute,” he added.

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What monkey fled with a bag containing evidence in it: Read full story

Published

3 years ago

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May 5, 2022

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The court, generally, considers a person who commit a crime and the one who destroys the evidence, as criminals in the eyes of law. But what if an animal destroys the evidence of a crime committed by a human.

In a peculiar incident in Rajasthan, a monkey fled away with the evidence collected by the police in a murder case. The stolen evidence included the murder weapon (a blood-stained knife).

The incident came to light when the police appeared before the court and they had to provide the evidence in the hearing.

The hearing was about the crime which took place in September 2016, in which a person named Shashikant Sharma died at a primary health center under Chandwaji police station. After the body was found, the deceased’s relatives blocked the Jaipur-Delhi highway, demanding an inquiry into the matter.

Following the investigation, the police had arrested Rahul Kandera and Mohanlal Kandera, residents of Chandwaji in relation to the murder. But, when the time came to produce the evidence related to the case, it was found that the police had no evidence with them because a monkey had stolen it from them.

In the court, the police said that the knife, which was the primary evidence, was also taken by the monkey. The cops informed that the evidence of the case was kept in a bag, which was being taken to the court.

The evidence bag contained the knife and 15 other important evidences. However, due to the lack of space in the malkhana, a bag full of evidence was kept under a tree, which led to the incident.

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