In order to solve the problem of poverty, hunger, corruption from villages and to raise the standard of living of people residing in villages I hope the Hon'ble Finance Minister will introduce a proposal in the Finance Bill 2011 so that it can be known as Poverty Eradication Bill 2011.
"Any expenditure incurred by a company to develop villages where directors were born or on the development of directors' ancestral villages (if situated in India) shall be allowed as revenue expenditure while computing income liable to tax".
I further expect the Finance Minister shall allow Individuals also to develop their native/ancestral villages by allowing 100% deduction of expenses incurred on development while computing income liable to tax.
Reasons: This will help the Government to overcome the problems - poverty, hunger and corruption etc which have arisen due to non-monitoring of the schemes to uplift the poor.
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