Abolish income tax, hike FD interest, cut it on loans: Subramanian Swamy
Chandigarh, Aug 24: BJP MP Subramanian Swamy on Saturday batted for abolishing income tax, hiking interest rate on fixed deposits and lowering it on loans to spur economic growth.
"The main thing is that the income tax should be abolished. The rate on fixed deposits should be increased to nine per cent and the rate of interest on borrowings should be brought down to nine per cent as well. If these three steps are taken, things will improve," said Swamy, talking to reporters here.
He said he is also coming up next month with a book, suggesting steps to spur economic growth.
A lot needs to be done for the economy. My book is coming out on September 5, in which I have explained what needs to be done, he added.
Swamy made the remarks when asked if the steps taken by Finance Minister Nirmala Sitharaman would revive the growth.
In a bid to boost economy on a five-year low, the Centre on Friday announced a slew of measures, including the rollback of surcharge on foreign and domestic equity investors, a promise to review the super rich tax on high networth individuals, exempting startups from 'angel tax', a package to address distress in the auto sector and upfront infusion of Rs 70,000 crore to public sector banks.
To bolster consumption, the government has also persuaded banks to cut interest rates, a move that would lead to lower EMIs for home, auto and other loans.
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Second PUC results: Life convict clears exam with distinction, DGP lauds effort
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Bengaluru: A life convict lodged in Ballari Central Prison has successfully cleared the second PUC examination.
Ashok Kumar S, who appeared for the examination under prison escort, secured 481 marks out of 600, registering 80.1 percent.
Director General of Police (Prisons and Correctional Services), Alok Kumar (IPS), shared the development on his official ‘X’ handle, commending the inmate’s achievement.
In his post, he stated that it was heartening to see a life convict score over 80 percent in the examination, adding that the inmate had appeared from Ballari Central Prison under escort.
It’s heartening to see that one of our life convict prisoners Ashok has obtained 80.1% marks in PUC exam. He appeared under Prison escort from Ballari Central Prison for his exams.
— alok kumar (@alokkumar6994) April 9, 2026
Glad to see that Walls of the prison has not subdued his hopes for a better future. pic.twitter.com/Nzlcy076SR
He further noted that the achievement reflected that the “walls of the prison have not subdued his hopes for a better future.”
Alok Kumar in his post also shared the result sheet of Ashok.
The Karnataka School Examination and Assessment Board (KSEAB) declared the second PUC results for 2026 on April 9.
A total of 6,32,200 students appeared for the examination across all streams, of whom 5,46,698 passed, recording an overall pass percentage of 86.48 per cent.
