Published On:Tuesday, 7 August 2012
P Chidambaram promises that he would simplify taxation by increasing taxes more and more
Lauded his tax collecting capabilities
New finance minister P Chidambaram on Monday unveiled his roadmap to improve the economy by simplifying the tax regime to boost investments.
"I will increase taxes by 10-20 times and then they will be simplified," said P Chidambaram.
He said "I love collecting taxes, more tax and more and more and more tax. Wow collecting tax is so passionate and I don't like to pay but to collect. I am very much innovative in taxation. I have already introduced service tax, securities transaction tax and turnover tax. Now I will introduce double service tax, cash-in-wallet tax, cash-in-pocket tax and tax on tax."
P Chidambaram wanted to assure that though everything in Indian economy is not going well, he can easily improve the health as easy as surgeon does a bypass surgery.
He said "What is so difficult to improve the health of the economy? I don't understand why this crap Pranab avoided raising tax money. Here we have big bunch of idiot cash cows, middle class people, we can charge them for living as middle class."
He also informed that it would moderate inflation definitely and more definitely.
"Look at people who earn 10000 rupees per month if pay 8000 rupees in tax, how would inflation increase? This is simple funda of simplifying tax. Tax so much that inflation will go down automatically," Chidambaram told media.