Most Indians want tax on the rich, top firms

Chennai: More than 80 per cent of Indians support a tax on the rich and corporations who earned record profits during the pandemic, a nationwide survey conducted ahead of the Budget by Fight Inequality Alliance India said. The study had said that an annual wealth tax in India would raise $78.3 billion a year with a 2 per cent tax on those having wealth over $5 million, 3 per cent on wealth over $50 million and 5 per cent on wealth over $1 billion. Further, the pre-budget survey found that more than 90 per cent of participants demanded budget measures to combat inequality such as universal social security, right to health, and expansion of budget to prevent gender-based violence. Of the respondents, 94.3 per cent wants the government to provide universal minimum social security, including health and maternity benefits, accident insurance, life insurance, and pension to all unorganised workers. Close to 90 per cent of respondents asked the government to ensure that all schools provide additional academic support to students who experienced learning loss and roll provisions like breakfast in schools.