Comments on: Tax Professionals’ role in the economic turmoil http://www.itatonline.org/articles_new/index.php/tax-professionals-role-in-the-economic-turmoil/ Articles by Legal Luminaries on Income-tax issues and controversies of recent interest Thu, 02 Feb 2012 06:26:39 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: CA VIJAY KAPUR http://www.itatonline.org/articles_new/index.php/tax-professionals-role-in-the-economic-turmoil/comment-page-1/#comment-258 CA VIJAY KAPUR Wed, 25 Mar 2009 12:32:09 +0000 http://www.itatonline.org/articles_new/?p=216#comment-258 No doubt its true that recession leads to unemployment resulting into lower purchasing power. But the factors like greed, complex financial arrangements, hoarding, cartelisation and other similar factors start the process leading upto reduction in GDP. Unrealistic pricing of real estate coupled with hoarding of large chunks of land by builders had led to this recession. Increase in purchasing power of citizens would definitely lead to increase in demand of goods, if benefits percolate to people at large. In such critical situations handling becomes a lot more important. How to handle the issues like greed, haording, cartels in such situation tasks for larger than life honesty. No doubt this can be handled but by honest government only. No doubt its true that recession leads to unemployment resulting into lower purchasing power. But the factors like greed, complex financial arrangements, hoarding, cartelisation and other similar factors start the process leading upto reduction in GDP. Unrealistic pricing of real estate coupled with hoarding of large chunks of land by builders had led to this recession. Increase in purchasing power of citizens would definitely lead to increase in demand of goods, if benefits percolate to people at large. In such critical situations handling becomes a lot more important. How to handle the issues like greed, haording, cartels in such situation tasks for larger than life honesty.

No doubt this can be handled but by honest government only.

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