I have a suggestion that instead of Flat Tax which appears to be very good, why cannot a country like ours go in for Transaction Tax on cheques which are coming for clearing after waiving all taxes like Income Tax, Wealth Tax, Gift Tax, Excise Duty, Sales Tax, Octroi, Customs Duty, etc. This will ensure that all products and services are available to the consumers at least 40% cheaper, which will push up the demand by at least 100% if not more. Also this will generate more employment to service the additional demand and at the same time invite a lot of Venture Capitalists to invest in our Country. This will also give a great blow to corruption and also reduce the load on the Government. The Government should basically ensure that they get involved only in Security, Infrastructure, Medical facilities, Education, and other social needs of the people. The question that arises is how will Govt. finance the needs of Centre, States, Municipal Corpn. Zilla Parishads. The Transaction Tax of 5% on a daily cheque clearence of approx. Rs. 40,000 crores would be good enough to take care of all the budgets of all the above. I have more to add for personal disc.