Articles by Sukumar Mukhopadhyay

Against the background of the dismal export performance in 2001-02, the Exim Policy had to be made to sound ambitious and innovative. However, in effect it amounts mostly to continuation of existing schemes. The real snag is the lackadaisical attitude of the central and state authorities in implementing policies, as is so tellingly brought out by the progress, or lack of it, of the Special Economic Zones scheme.

Now that the next budget is round the corner, it is imperative that we have a good look at what reforms are due in respect of the duties of excise and customs since that is a very crucial part of overall reform.

In the sixties in Custom Houses all over the country, particularly in Calcutta (as it then was), there were two Red Books: Mao's Red Book and the Import Policy Book. With the change in the political equation between the Chinese Communist Party and that section of communists in India, import of Mao's Red Book died a natural death. And now, with the demise of quantitative restrictions and other import controls, the other Red Book too has met with a similar fate. No tears need be shed for it.

In an irreverant look at VAT, the darling of tax pundits, the author questions the supposed virtues of the tax-neutrality, avoidance of cascading and zero-rating of exports - and wonders whether more genuine tax reforms should not be considered in preference to VAT.

A recent decision of the Supreme Court has reopened the discussion on whether the erection of a plant, such as a power plant or paper mill should be considered to be an act of manufacture and therefore be charged excise duty, even though the component parts have already attracted such duty.