Demonetisation: ASSOCHAM suggests taxing agricultural income

In the backdrop of demonetisation, Associated Chambers of Commerce and Industry of India (ASSOCHAM) on Wednesday supported bringing agricultural under the ambit of taxation in the country.


Talking to media here, secretary general D S Rawat said as an effective tool againstand black economy would succeed only when accompanied by other concomitant measures.


“It is estimated that would expand net, but it would result in higher revenue only when all incomes are taxed, including agricultural income,” he said.


Besides, he suggested the political parties themselves voluntarily declared all their donations even if less than Rs 20,000 for more transparency and for inspiring confidence among people.


Rawat said and the consequent cash crunch had indeed disrupted the normal functioning of several businesses and industries, especially in the informal sectors and had a direct bearing on the livelihood of the workmen.


He was in town to release a study titled ‘Digital India to Robotic India’ published by ASSOCHAM. The study claimed up to 10 million jobs might be taken over by artificial intelligence or robots in the next five years owing to extreme technological developments taking place globally.


The central government should integrate robotics as key components of its flagship ‘Make in India’ programme for attracting global manufacturers to set up efficient and automated supply chain facilities in India, the study suggested.


The current industrial revolution globally was unfolding disruptive technologies in the form of automation, robotics, 3D printing, artificial intelligence, genomics etc and has started eating jobs in large number, and in India alone million of jobs are at stake in the next five years, it noted.


Meanwhile, has suggested the Uttar Pradesh government dovetail its skill development policy to create an enabling environment for private sector, provide better infrastructure, impart skill training to industrial workforce and promote ease of doing business across the state.