Last Updated:

HDK Wants Lower Cost Of Living & A Covid Cess On Ultra Rich Like In Discredited IRS Report

Kumaraswamy opined that government should work towards lowering cost of living as spending power of consumers has weakened, and impose COVID cess on ultra-rich


Former Karnataka Chief Minister and Janata Dal-Secular (JD-S) leader HD Kumaraswamy on Monday opined that the government should work towards lowering the cost of living as the spending power of the consumers has weakened, and it should impose COVID cess on the ultra-rich while implementing "citizen-centric" measures like waivers of EMIs, rents, school fees etc.

READ | RBI Announces Rs 50,000 Cr Special Liquidity For Mutual Funds After Franklin Templeton Row

READ | Prolonged Lockdown May Push Millions Into Margins Of Subsistence: Ex RBI Gov Subbarao

The IRS report Controversy

Kumaraswamy's response comes after an ill-conceived report named as Fiscal Options and Response to Covid-19 Epidemic (FORCE) was put up by a group of officers through the Indian Revenue Service (IRS) Association giving a wide range of suggestions such as increasing taxes including an additional COVID cess and increasing the surcharge on foreign companies in India, among others. As per the sources, Union Ministry of Finance has directed the Central Board of Direct Taxes (CBDT) to seek explanation from the officers for coming up with an absurd report and putting it out in public without any authority.

The paper titled 'FORCE', dated April 23, has been sent to CBDT Chairman PC Mody and the board members. On Sunday, CBDT said an inquiry is being initiated against the 50 IRS officers. According to the apex body, it had never asked IRS Association or these officers to prepare such a report and no permission was sought by them before making the report public. It also said the "impugned report" does not reflect the official views of CBDT/ Ministry of Finance in any manner.

READ | Sri Lanka Approves Currency Swap Proposal Worth $400 Mn With RBI Amid Pandemic

READ | BJP Says RBI's Measures Will Help Save Livelihoods, Cong Finds Them 'far Too Little'

First Published:
By 2030, 40% Indians will not have access to drinking water