Dear Finance Minister,
Since you are presenting the union budget tomorrow, I have taken time from my busy schedule to give you some advice. I am very good at giving advice - buy this, buy that. Prices have fallen? so what, buy more and more.
I have to admit I am quite comfortable living in India. I really have no complaints from you. Or rather, very few complaints, because after all, nobody is perfect, not even you.
My first suggestion is not to follow the West blindly. In the USA, they arrested a person because he was getting inside information and then acting on it. Horrible! What will they think of next? So, please do not follow the West.
My second suggestion is to follow the Western world, where appropriate. I like the idea of 10 million dollar bonus payments. It is true that I have that kind of money, but it comes from , er... trading in selected stocks (you know what I mean...), and I would much prefer to get the money directly and openly.
My third suggestion is not to listen to people (like Sudarshan ) who talk about 120 crore Indians. You have to create wealth and when the wealthy get the country's money, naturally we will see that some of it trickles down to the masses. You should think about the 1000 people who control the financial economy. What is good for the rich, is good for the country.
So, briefly, this is what you should do.
Remove Short term capital gains tax
Reduce the higher income tax slab to 5% for Investment Bankers
Allow duty free imports of Luxury cars, personal airplanes, private Yachts. (Note: Can you also give a subsidy for such imports? Please examine this idea..)
Well, I have to rush now, Bye.