Letter to BS: Economy matures enough to take care of the public interest

As the level of production rises in geometrical progression, the quantum of tax collection also grows though the rates are low

This refers to “Policies & the public interest” by Shyam Ponappa (October 4). When taxes are reduced or made zero, the real effective value of the product nears or matches its intrinsic value. This enables the product to be competitive in the international market in terms of price. When quality is also assured, we shall rule the global market gaining foreign exchange required to meet the import bills of things we are unable to produce like crude oil etc.

As rightly pointed out by Ponappa, volume matters. As the level of production rises in geometrical progression, the quantum of