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Now, agricultural income to be taxed, suggests ASSOCHAM

 2017-03-28 17:24:00.0

Now, agricultural income to be taxed, suggests ASSOCHAM

New Delhi: The Associated chambers of Commerce and Industry of India (ASSOCHAM) on Wednesday suggested on bringing agricultural income under the umbrella of taxation in the country.

Talking to the media, ASSOCHAM secretary grenral D S Rawat said demonetisation as an effective tool against the black money and black economy would succeed only when accompanied by other related measures.

"It is estimated that demonetisation would expand tax net, but it would result in higher tax revenue only when incomes are taxed, including agricultural income," he said.

Besides, for inspiring confidence among people, he suggested that the political parties themselves are voluntarily declared all their donations even if less than Rs. 20,000 for more transparency.

Rawat said that for demonetisation and the annihilation of crash crunch had indeed disrupted the normal functioning of several business and industries, especially in the informal sectors and had a direct bearing on the livelihood of the workmen.

He was in town to release a study titled 'Digital India to Robotic India' published by ASSOCHAM. The study claims, that up to 10 million jobs might be taken over by artificial intelligence or robots in the next five years owing to extreme technical developments taking place globally.

The central government should integrate robotics as key components of its flagship 'Make in India' programme for attracting global manufacturers to set up efficient and automated supply chain facilities in India, the study suggested.

The current industrial revolution globally was unfolding disruptive technologies in the form of automation, robotics, 3D printing, artificial intelligence, genomics etc and has started eating jobs in large number, and in India alone millions of jobs will be at stake in the next five years, it noted.

Meanwhile, ASSOCHAM had suggested the Uttar Pradesh government's skill development policy to create an enabling environment for private sector, provide better infrastructure, impart skill training to industrial workforce and promote ease of doing business across the state.


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