India's working classes bear the brunt of the Narendra Modi government's economic policies
3 years, 1 month ago

India's working classes bear the brunt of the Narendra Modi government's economic policies

The Hindu  

There seems to be no let-up in the bad news emerging from India’s real economy. India’s second wealthiest person, Gautam Adani, has seen his wealth soar by an astronomical 500 per cent in this period. America’s Dow Jones has given 28 per cent returns in the same period, and the wealth of billionaires such as Elon Musk has seen a 540 per cent jump since January 2020. In Modi’s first Budget of 2014-15, the total corporate tax collection was about 76 per cent higher than the collection from other direct taxes, the vast majority of which was personal income tax. In Budget 2018, on the pretext of spurring economic growth, corporate tax rates for companies having profits less than Rs.250 crore were reduced to a maximum of 25 per cent.

India Tax Budget Indian Economic Income Crore Cent 2020 Working Classes  policies  income  narendra  economic  bear  crore  governments  brunt  tax  working  cent  modi  classes  india  2020  indias

History of this topic

Nirmala Sitharaman said this to X user seeking relief for middle class
1 month, 1 week ago

Nirmala Sitharaman said this to X user seeking relief for middle class

India Today  

India's middle class is upset. Very upset, as some X user tagged Union Finance Minister Nirmala Sitharaman and requested her to consider providing some relief to the middle class in a social media post. I humbly request you to consider providing some relief for the middle class. In response, Sitharaman, while appreciating the X user's concerns, described the current government …

Working class suffered the worst during Modi regime: Congress
8 months, 3 weeks ago

Working class suffered the worst during Modi regime: Congress

The Hindu  

Spelling out details of its promise to ensure shramik nyay or justice for labour, the Congress on Tuesday said it would include the right to health, urban employment guarantee, increase in wages for MGNREGA workers up to ₹400 and reviving labour laws to protect the working class interest in its manifesto. Addressing a press conference at the All India Congress …

Budget 2024: No change in direct taxes. What does it mean for India's middle class?
10 months, 3 weeks ago

Budget 2024: No change in direct taxes. What does it mean for India's middle class?

Hindustan Times  

Union finance minister Nirmala Sitharaman on Thursday said that the government won't propose any changes to taxation and will retain the same tax rates for direct taxes and indirect taxes including import duties. Finance Minister Nirmala Sitharaman chose not to increase, or decrease, income tax liability on the middle class. "Keeping with the convention, I do not propose to make …

Profit over labour: Indian working class the ultimate victims of the neoliberal regime since 1991
3 years, 3 months ago

Profit over labour: Indian working class the ultimate victims of the neoliberal regime since 1991

The Hindu  

It has been three decades since neoliberal economic policies were imposed on India in 1991. With no clearly defined and identifiable employer-employee relationship, both in the private and public sectors, the Indian working class has become the ultimate victims of this neoliberal regime. To attract finance capital, every nation that has opened its doors to neoliberal economic policies is compelled …

Discover Related