1G} QUALITY ENRICHMENT PROGRAMME (QEP}: TARGET 2023/24 Under the Guidance of MK YADAV 5 | FROM THE SPEECHES: PM, PRESIDENT, & VP. FROM THE SPEECHES OF HON’BLE PRIME MINISTER ‘+ “In the past years, our focus has been on banking the unbanked, securing the unsecured and funding the unfunded. Now we are starting a new journey—honouring the honest.” ‘+ Now tax harassment in India is going to be a thing of the past. With the help of modern technology, now the country is moving towards Tax Encouragement. Paying tax is such a duty, which is directly related to nation building. “Every law, rule and regulation need to be changed from being process and power centric approach to being people-centric and public friendly.” ‘+ Money is necessary for the development of the country and the countrymen, but along with money, ‘200d spirit is also needed. ‘The tax department has to be cognizant of the taxpayer's dignity “GST is in a way is like our railways with state and Centre playing equal role in its operations”. FROM THE SPEECHES OF HON’BLE PRESIDENT ‘+ “Taxpayers are not just sources of revenue, but they are also our partners in nation-building” FROM THE SPEECHES OF HON’BLE VICE PRESIDENT ‘* Highlighting the importance of resources, the renowned Kautilya said, in his book ‘Artha Shastra’, that ‘Koshopoorvah sarvarambhah" or “Al State activities depend first on the treasury” ‘ublhed by: vss an Contact Deh 9560082809, Bengalur 950054022, ahop/indore- 96507779, Chendgnh—e80009593 ‘heishub © 2023 | Ad gh esteox AQuauryennicnen PROGRAMME (2 Under the Guidone of MK YADAV | 9 | ACRONYM: WAY FORWARD (FOR TAXATION & FISCAL POLICY) ACRONYM AS WAY FORWARD Gy WAY FORWARD: INDIA NEEDS TO USE “TAXES” TO REFORM TAXATION SYSTEM ‘T-Transparent: Transparency and accountability in the collection and utilization of tax revenues. A - Affordable: Strike a balance between generating revenue for the government and ensuring that taxes remain affordable for individuals and businesses. X- eXpedient: Streamline tax processes and make them efficient, minimizing bureaucratic hurdles and promoting ease of compliance > Digitisation and datafication E- Equitable: promote fairness and equity by ensuring that the tax burden is distributed proportionally ‘among different income groups and sectors of the economy, S- Stimulative: Encourage economic growth and development by providing incentives for investments, promoting entrepreneurship, and supporting innovation and R&D. |WARD: TAXATION REFORMS ON ‘RAPID’ Rt Revenue Accountability Probity From ‘Tax Terrorism’ to ‘Tax Transparency’ Information Digitisation ACRONYM AS WAY FORWARD aca WAY FORWARD: FISCAL POLICY IN INDIA NEEDS ‘EFFECT’ E - Economie Growth: aim to foster sustainable economic growth by promoting investment, consumption, innovation and entrepreneurship. F - Fiscal Discipline: including prudent spending (optimal capital & revenue expenditure mix), revenue ‘management, and debt sustainability. F - Financial inclusion: ensuring that individuals and businesses have access to affordable financial services, thereby fostering economic participation and reducing inequality. E- Employment Generation: through measures like investment in infrastructure, skill development, and promoting sectors with high labour-intensive potential - Competitiveness: enhance India's competitiveness inthe global market by encouraging innovation, improving the business environment, reducing compliance burden etc. ‘T- Tax Reforms: such as simplification, rationalization, and broadening of the tax base, to ensure efficient revenue mobilization. 121 Contact: Deh 956008209, engaurs 9800540262, Shop/ndore—S6SOTOSI9, Chandigarh BBOC019592 ‘hevshub © 2023 | AU gh Reserve