NEW DELHI: Abolishing income tax and other levies and replacing them with some other suitable form of revenue is feasible and desirable, say experts, although some believe that such a move would militate against social equity.

Describing the concept as “aspirational”, Ficci President Sidharth Birla said: “If the steps proposed enhance revenue by broadening and broad basing the tax payer base and help improve transparency of regulatory framework, we will tend to welcome these aspects. ..