Do Away with Income Tax - Dr. Subramanian Swamy
BJP leader Dr Subramanian Swamy urged the Centre to do away with the system of collecting income tax and instead find out other means to raise money to the exchequer.
The revenue earned through the collection of income tax was about Rs 2 lakh crore annually. The government could compensate the amount, which was levied mainly from middle and upper middle class, by yearly auction of spectrum and coal fields, he said while delivering a lecture on "Indian economy, past, present and future".