An Open Letter to the PM of India from an ordinary citizen

Congratulations on becoming the PM of India, the largest democracy of the World. Before you get comfortable in your seat here is a wish list that we middle-class group people would love to share with you. We belong to 2.6% of the population who pay Income Tax. It is surprising that in a population of 1.3 billion; only 2.6% pay Income tax while the rest just enjoy the benefit.

Every time a government falls short on its finances, it catches the hapless middle class who primarily belong to the salaried class.The Salaried class is one which can always be kicked and squeezed to generate more taxes. Whenever the government has to generate additional funds, it looks forward to the middle class like surcharges. On the other hand, whenever any benefit has to be passed on to them like the savings from Oil prices a couple of years back, it fails to recognize them as a community.

Before I share the wish-list, I would like to make the PM of India understand what a middle-class family desires? It is Good education for their children, Owning a house, Job security, Good Health facilities at affordable prices and a Good Infrastructure facility. So if you want to make middle class happy just implement the following:

The Wish List of a Salaried Class to PM of India:

1.Reduce Income Tax –

The maximum slab for salaried class should not be more than 20%. Donald Trump has reduced the corporate tax rate for corporations from 35% to 21%. He has made the Corporate US happy. Can’t you make the middle class happy for once! I promise that all the savings will be redeployed in spending thus bringing positive sentiments in the market once again. So many governments have promised it in the past but in the end, they just tinker with either standard deduction or raise the minimum slab by a nominal amount.

2.One GST Slab –

It will bring more transparency in business and avoid generating black money. We still come across a whole lot of traders who are willing to accept cash and thus waiving off the GST. Clearly the present GST model of a trader claiming an input tax credit against his tax liability is not working 100%.

3.Housing and Housing loans –

Offer a subsidized rate of interest for middle class buying houses. After all, owning a house is the biggest dream of a middle-class family apart from their children’s education. PNB lost more than Rs 12000 crore to Nirav Modi. With the same money, PNB could have offered a subsidized housing loan to home buyers at 5-6%. They would have not only got their principal amount back but also the interest. A couple of % point less than the market interest rate wouldn’t have eroded their bottom line like today. Most of the government come out with schemes for Low- income group housing. But what about the middle class. We can buy houses on our own but at least make the public sector banks offer us a low interest than the market. The same public sector bank, after all, offers housing loans to their own staff at much below the market rate.

4.Control the real Inflation –

The official inflation rate may show a single digit of 3% (March 2019 inflation rate was 2.86%) but when you go out in the market you realize that the reality is different. Vegetable prices keep increasing every week. Milk and Milk product prices keep increasing every alternate month. Petrol it seems will never come below Rs 72/- a liter. The middle class could never rejoice the low oil prices 2 years back courtesy our Finance Minister.

5.Education –

Last but not the least focus on opening more educational institutes providing quality education. I remember in my school days in the 80’s and 90’s Kendriya Vidyalaya’s were a symbol of quality education. It was very difficult to get admission but over a period of time, they have lost that reputation. We need good schools for primary and secondary education, good colleges, good professional colleges. Every year more and more students are scoring 90% and above. Where will students who are scoring less than 90% will go? Private schools have mushroomed to cater to the growing demand for primary and secondary schooling but everybody can’t afford them. Private colleges have filled up the vacuum in higher education to an extent but then they compromise a lot on good faculty and quality researches

Yours truly,

A Middle Class citizen of India

Address – Still stays in India and not absconding

Proof of Citizenship – Aadhar, Pan Card, Passport, Driving License, Bank statement all attached

Proof of Honesty – Still pays his income tax and files returns, Pays Bank EMI’s on time.

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