Should we do away with subsidies, for better economic scenario?

by ABSIVAKUMAR in Topics of Interest

85 135 1.33k

11 years ago

There has been a big hue and cry, about the subsidies for various products. Most economists, particularly the best in the country, including those holding positions in the Reserve Bank of India, have argued that all subsidies, including the ones on things on public transport, electricity, etc., should be totally done away with.

On the other hand, there are hundreds who feel that subsidies should not be abolished, as otherwise all the prices of all essential commodities will go through the roof, and that the poor will be very badly hit.

Let members give their frank opinions, preferably with all statistical data, to support their viewpoints.

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Kalyani Nandurkar

258 14.6k 108.2k

11 years ago

#379437

I am of the opinion that if our economy were to grow stronger and be made sustainable for a long term, then all the subsidies should be taken away. But the congress party in their bid to remain in power have introduced all sorts of subsidies and benefits for such a long time that it will be very difficult to take them all away, so it will have to be a long drawn process now. Not to mention the ones already below poverty line will become even more impoverished, if that is possible.

"I am free of all prejudice. I hate everyone equally."
- W. C. Fields :)

Thank you said by: Manoj lamba

Manoj lamba

35 33 666

11 years ago

#379448

agree that all subsidies should be taken away to make our economy strong. in past years congress have looted the public and in the end to remain in the power they give some part of the money in form of subsidy.

Gulshan Kumar Ajmani

3.48k 21.9k 176.9k

11 years ago

#379455

Maximum subsidy/ tax exemption is given to industrialists. They get small scale exemption on central excise, total exemption in certain areas and so on.
subsifdy has a purpose. It is best to give to those who need and withdraw from the rich. Just the case of subsidy on domestic gas. This need not be given to those in high income range.

G. K. Ajmani Tax consultant
http://gkajmani-mystraythoughts.blogspot.com/

Thank you said by: Kalyani Nandurkar

rambabu

1.49k 32k 218.8k

11 years ago

#379456

Subsidies are more of populist measures than need based. Irrespective of the economic condition of the people subsidies should be withdrawn. They are a burden on the exchequer.

Kalyani Nandurkar

258 14.6k 108.2k

11 years ago

#379598

Maximum subsidy/ tax exemption is given to industrialists. They get small scale exemption on central excise, total exemption in certain areas and so on.
subsifdy has a purpose. It is best to give to those who need and withdraw from the rich. Just the case of subsidy on domestic gas. This need not be given to those in high income range.

Exactly. Subsidies should not be just given to everyone, they should be based on the incomes of consumers. People from certain castes and communities are entitled to heavy concessions in fees in education, but when people from these communities are super rich it does not seem right that they are still entitled to heavy concessions in fees, while many students from open category have to pay heavy fees even when they are not financially capable, sometimes due to this reason they have to give up their dreams of higher studies. Same happens with subsidies!

"I am free of all prejudice. I hate everyone equally."
- W. C. Fields :)

Thank you said by: Gulshan Kumar Ajmani

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