Razor-sharp ripostes
Union Finance Secretary TV Somanathan is known for his ripostes, and this was evident at the recent ‘Breakfast with businessline’ session . To a question from businessline Editor Raghuvir Srinivasan that a good accountant always keeps some reserves, and so what reserves did the Budget have to boost revenue growth, Somanathan presented a dead bat, saying a good accountant never tells the analyst where he keeps his reserves!
In another instance, when he was asked about the Ujala scheme in the context of subsidies for LPG cylinders, Somanathan shot back saying it’s called Ujwala scheme, whereas Ujala Blue is a brand of a detergent maker! However, he was equally quick to clarify, grinning, that the government does have a Ujala scheme as well, for affordable LED lights!
Tax loopholes
Finance Secretary TV Somanathan said tax avoidance is legal and it’s the well-paid, highly educated people who discover tax loopholes. “We (Government) haven’t discovered them yet, and once we discover that they have discovered them, we will do something about it!” he said, adding that there are tax avoidance measures allowed by the government; for example, a tax sop to employ people.
“If people discover a tax advantage in some policy, it may be legal, but it’s also equally legal for us to close it as soon as we can and as effectively as we can. Tax experts can keep designing it, their job is to do it, but it’s our job also to close loopholes,” he said.
A foodie’s challenge
All roads for racers from India and abroad led to Hyderabad as the city braced to host the Formula E challenge. As they grappled with the last-minute challenges, the team managements were confronted with a peculiar problem in the form of Hyderabadi biryani — gourmet lovers’ favourite pick. Racers are put on a very strict diet — low on carbs and high on proteins and a host of other restrictions.
“Worried over the prospect of going on a biryani eating binge, we had asked them not to touch the biryani and other sumptuous Hyderabadi dishes till the last of the rounds,” a top executive of a racing team said.
Building politics
The battle for political gains in Telangana, ahead of Assembly elections at the end of the year, is taking strange turns every day with new allegations against the ruling Telangana Rashtra Samithi (TRS) by the opposition parties.
The latest and rather unexpected issue is the design of the new secretariat building. Some BJP members are targeting the government for incorporating domes in the design of the secretariat building, saying that it was to please the voters of a particular community. Caught by surprise, the members of the ruling party are now refuting the allegations by saying even the Supreme Court and Parliament buildings have domes!
Kantara impact
Looks like a reference to the recent Kannada movie Kantara, directed by Rishabh Shetty and produced by Hombale Films, is a must for political leaders when they visit Karnataka these days. Union Home Minister Amit Shah, who was in Dakshina Kannada district of Karnataka on Saturday, said Kantara gave him insights into the culture and heritage of the region.
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