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Based on a recent report of the parliamentary standing committee of the union Human Resource Development ministry that wanted to impose an exit tax on IIT and IIM students leaving India we asked our readers about their views on the topic.
Here is the detailed and unedited response of those readers who want the government to think of innovations rather than impose an exit tax on IIT and IIM graduates.
If you really want money, I have a better proposition:
Instead of taxing IIT/IIM graduates,
- Conduct a financial audit on every politician to determine the amount of money swindled by him/her through corruption.
- Offer two alternatives to the politician: Pay a fine equal to 110% of the money swindled or go to jail.
- It's quite easy to guess which option the politician will opt for.
- And this would be a FAR MORE LUCRATIVE source of revenue ("money" for you) than taxing people that put in more effort to get ahead (which, once again, smells like socialism/communism to me).
Let's think differently for a change
Exit tax can only be a marvelous creation of a political mind who wishes to squeeze the pockets of laborious, brainy students who have, God knows, put in days and nights together to travel on this success journey. And now our HRD ministry wants to levy tax on them to remind them that they cannot reap the fruits of their toil without grudges.
Instead why not levy tax on government officials for a change, for 'targets not met', for 'cases remaining unsolved', for 'futile foreign trips', for 'Lavish living', for 'criminal activities in constituency', etc. etc.
Lets introduce the 'Pay for Performance' scheme for our respectful well wishers...
Exit tax is not the answer to serve the country
1. What about the Indians who plan to return after few years?
2. What about Indians who go abroad after 2-3 years of working in India?
3. What about the Institute's 'moments of pride' when the students perform well abroad, if students stop accepting foreign offers in placements
4. What tracking mechanisms are devised to check if taxes are levied correctly and the money is utilized the way it should?
5. What if students start preferring SAT over GRE & GMAT?
This list of questions is just indicative and not exhaustive...
Lets first find the answers to above questions and then seek such ideas.
Let's create the facilities and infrastructure in our own country which students seek abroad...Believe me, the bonds with our motherland are deeply rooted...
Provide for education loans
The idea of a tax for ensuring that the subsidy does not get wasted does not seem a bad idea at first glance. But the same can be implemented by removing the subsidy and instead providing the same money in the form of an education loan.
This can be at a slightly reduced interest rate as compared to market factors but a loan would ensure its return. Some form of a security can be asked for to ensure the loan is not misused. And I also agree with a section out here who said that performance tax needs to implement in Parliament.
Best option is to provide loans
The best way is to increase the fees (remove subsidy). Make it mandatory for banks to provide loans without collateral but with a guarantor. Yes, track the passport number. If the student does not begin repayment soon after education then register a legal case against the student. So when they come back to local police for 'Clean charater certification', say, to obtain a Green Card few years later their plans will all be screwed. I know this idea might have a lot of flaws. But we can discuss and tweak and refine it.
Let them work for the country first
IITs and IIMs are the world class subsidised Government of India institutions. The tax payers' money which could have been used in opening more Engineering Colleges and Management Institutes to produce more Engineers and Managers for the development of India is used here on the IITs and IIMs.
But after the courses the students take up jobs abroad for better salaries which cannot be earned in India. Education in IITs and IIMs should be made free as is for Cadets in IMA, OTA, AFA, NA, etc. of the Indian Armed Forces and a bond be signed from the students of IITs and IIMs to serve the country for 5 to 20 years as signed by the Officers and Soldiers of the Indian Armed Forces. After the finishing the bond period they can work anywhere in the world.
2nd option is that if they choose to go abroad to work after completing their studies they should pay the cost of their entire studies at the IITs and IIMs as is the option for the Cadets of the Indian Armed Forces Academies.
3rd Option is that the IIT and IIM students who wish to go abroad to sign a bond with the Government to pay for the studies of 1 IIT / IIM student each year for 20 years.
Let them go abroad
Let the IIT/IIM grads go abroad seamlessly to provide job opportunities for others in India. If IIT/IIM grads remain in India , there would be more unemployment for other engg. grads and management grads because even Indian Companies are biased towards IIT and IIM for recruitment.
Despite having good talent, due to bias factor of Companies , others do not get chance to get employed , so let IITians / IIMies leave the country to pave way for others and indirectly reduce unemployment. Other engineers and management grads can do much better than IITians and IIMites and can disprove all hypes . They can make the nation much better than what IITians and IIMies can do.
Take the example of ISMU, Dhanbad. Their passed outs are never after brain drain and they have made lot of contribution towards nation's growth. Its all hypes created for IITs and IIMs from media. Media please stop this.
I have a different idea
I think India is a free and democratic country. So every citizen of it has right to pursue whatever he wants from his life. Of course the way should not be illegal. These very people contribute a lot when they achieve something great. We can not force our will on them instead we should see how more and more students can be enrolled in these institutes.
Hey I have an IDEA, if it becomes mandatory for every institute (both Govt. & Pvt) to maintain the same standards, facilities, faculties and academicians like the IIM's and there should be severe action if anyone deviate from the standard.
One year apprenticeship
I think government will make it compulsory for every IIT and IIM graduate to undergo apprentice training for one year in India and place of the organisation to be decided by the IIM faculty so that the students will give some thing during the training period.
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