Naysayers Have It Wrong, Incomes in India Are Rising
1 year ago

Naysayers Have It Wrong, Incomes in India Are Rising

News 18  

The state of income in India has suddenly become a topic of raging discussion after former RBI Governor Raghuram Rajan and economist Rohit Lamba suggested that the country cannot escape the lower-middle income trap by 2047. India’s gross direct tax collections in the ongoing financial year, until November 9, have increased almost 18 per cent to Rs 12.37 lakh crore. The SBI has also predicted that India’s per capita income is expected to increase from Rs 2 lakh in FY23 to Rs 14.9 lakh in FY47. According to an analysis published by the Brookings Institution, India’s per capita income is expected to grow at an average 3.5 per cent faster rate than that in China, on account of strong investments in labour, human capital and structural reforms since 2014. Between 2010 and 2019, India’s purchasing power parity per capita income grew at 5.2 per cent versus 4.5 per cent in China.

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History of this topic

Only 6.68 pc of population filed income tax return in 2023-24 fiscal | DEATILS
6 days, 7 hours ago

Only 6.68 pc of population filed income tax return in 2023-24 fiscal | DEATILS

India TV News  

Income tax returns: The country's population may be the largest in the world, but Indians are still lagging behind in filing income tax returns. The latest data shows that only 6.68 per cent of India's population filed income tax returns for the financial year 2023-24, Minister of State for Finance Pankaj Chaudhary said in a written reply to the Rajya …

‘India must impose more taxes on super-rich’: Economist Thomas Piketty as top 1% hold over 40% of nation’s wealth
1 week, 2 days ago

‘India must impose more taxes on super-rich’: Economist Thomas Piketty as top 1% hold over 40% of nation’s wealth

Live Mint  

NEW DELHI - India should do more to tax its super-rich given its high levels of inequality, French economist and author Thomas Piketty said on Friday. "India should be active in taxing the rich," Piketty said at an event organised by Delhi-based think tank Research and Information System for Developing Countries and the Delhi School of Economics. He said India …

India to contribute 20 pc of global workforce growth between 2023-50, China share to decline: Report
1 month ago

India to contribute 20 pc of global workforce growth between 2023-50, China share to decline: Report

New Indian Express  

NEW DELHI: India is set to play a pivotal role in global workforce growth, contributing 20 per cent of it between 2023 and 2050, according to a report by Angel One Wealth. It said, "By 2030 high-income households are expected to triple, while middle-income households will nearly double making India the fastest-growing nation in terms of per capita income". The …

Relief to middle class? Inflation offsets hike in tax exemption limit
1 month ago

Relief to middle class? Inflation offsets hike in tax exemption limit

New Indian Express  

NEW DELHI: The government recently claimed that Income tax burden on the common man has come down in the last 10 years, thanks to the Narendra Modi-led government’s various measures. It claimed that taxpayers in the Rs 2.5-7 lakh tax bracket who paid on an average Rs 25,000 in FY14 are now paying zero tax. Fast forward to FY 2024-25, …

State of income tax in India: Rich pay more, middle class less
1 month, 1 week ago

State of income tax in India: Rich pay more, middle class less

Firstpost  

Income tax liability on salaried individuals earning less than Rs 20 lakh a year, broadly described as middle class, has fell sharply during the 10 years of Prime Minister Narendra Modi-led government. Also, the income tax liability of those earning more than Rs 50 lakh has increased 3.2 times or 282 per cent, from Rs 2.52 lakh crore in 2014, …

Income Tax Returns data shows that 5 times more people are earning over 50 lakhs per year since PM Modi came to power, pay over 75% of taxes
1 month, 1 week ago

Income Tax Returns data shows that 5 times more people are earning over 50 lakhs per year since PM Modi came to power, pay over 75% of taxes

Op India  

Over the course of last ten years, the number of income tax filers has increased by an astounding 120%, as per media reports. The data from income tax return filings shows that the number of people with yearly incomes over Rs 50 lakh surged five-fold from 1.85 lakh in 2013–14, to over 9.39 lakh in 2023–24. Furthermore, from Rs 2.52 …

Income tax share from below ₹10 lakh group shrinks over 10 years, high earners dominate
Trending News
1 month, 1 week ago

Income tax share from below ₹10 lakh group shrinks over 10 years, high earners dominate

Live Mint  

Data from the Income Tax Department reveals a shift in India’s tax landscape over the past decade, with the share of tax collected from individuals earning less than ₹10 lakh dropping from over 10% to 6.22%. Tax collection from this group has tripled, rising from ₹2.52 lakh crore in 2014 to ₹9.62 lakh crore in 2024, data showed. “Tax liability …

'Double engine' of private investment, mass consumption derailed under Modi government: Congress
1 month, 1 week ago

'Double engine' of private investment, mass consumption derailed under Modi government: Congress

New Indian Express  

Congress general secretary in-charge communications Jairam Ramesh urged the government to accept what the Congress has been proposing - raising MGNREGA wages to a minimum of Rs.400 per day, guaranteeing MSP and a loan waiver for farmers, and a monthly income support scheme for women - to kickstart income growth in rural India. Last week, several CEOs from India Inc …

Tamil Nadu's Economic Growth Outpaces National Average in 2023-24
2 months ago

Tamil Nadu's Economic Growth Outpaces National Average in 2023-24

The Hindu  

Tamil Nadu's Gross State Domestic Product (GSDP) grew 8.23% in 2023-24, ranking second in GSDP at current prices, only behind Maharashtra. The State's per capita income was estimated at ₹1,79,732 in 2023-24, indicating a significant improvement in the State's overall economic performance compared to earlier years.

India's Tax Filers Surge Fivefold, With 52% of Salaried Individuals Reporting Income Over Rs 1 Crore
2 months ago

India's Tax Filers Surge Fivefold, With 52% of Salaried Individuals Reporting Income Over Rs 1 Crore

ABP News  

India's tax filers have seen a significant surge in recent years, with the number of individuals reporting taxable incomes exceeding Rs 1 crore surging fivefold in the assessment year 2023-24. This growth has been driven by both an increase in the total number of taxpayers and an increase in the number of individuals with taxable incomes exceeding Rs 1 crore.

Income Tax Department Sees Doubled Number of Income Taxpayers in 10 Years
2 months ago

Income Tax Department Sees Doubled Number of Income Taxpayers in 10 Years

New Indian Express  

The number of income taxpayers has doubled in the past 10 years, with direct tax collection tripling during the same period. Tax buoyancy has shown a sharp improvement, indicating that the growth in tax collection was more than double the nominal GDP growth rate. This is a positive sign for the Indian economy, as it suggests that the country is …

How middle class pays more taxes than corporates, and gets ignored too
5 months ago

How middle class pays more taxes than corporates, and gets ignored too

India Today  

Read Full Budget 2024 Coverage The middle class, the tax-paying population of India, stares at the face of the government every time the Budget day approaches. Revenue Receipts 2019-2020 2021-2022 2022-2023 2023-2024 2024-2025 Corporate Tax 556,876 712,037 825,834 922,675 1,042,830 Income Tax 492,654 696,243 833,260 1,022,325 1,156,000 Source: Government of India data The taxes were reduced to boost capital expenditure, …

Economic Survey 2023-24: Tax policies to have major role in tackling income inequality
5 months ago

Economic Survey 2023-24: Tax policies to have major role in tackling income inequality

New Indian Express  

NEW DELHI: Tax policies will have a major role to play in tackling income inequality in the coming years as deployment of technology, like AI, can have a more deleterious impact on employment and income, the Economic Survey said on Monday. The 2022 State of Inequality in India report observed that in India, the top 1 per cent accounts for …

Maharashtra’s per capita income slides, Gujarat surges ahead
5 months, 3 weeks ago

Maharashtra’s per capita income slides, Gujarat surges ahead

New Indian Express  

MUMBAI: Maharashtra has slipped to the sixth position in terms of per capita income across India, as revealed in the state's economic survey report presented during the monsoon session of the Maharashtra State Assembly. Maharashtra's per capita income is recorded at Rs 2,52,389, followed by Andhra Pradesh with Rs 2,19,881 and Uttar Pradesh at Rs 83,636. Former Union Minister Sharad …

Towards a less poor and more equal country
7 months, 4 weeks ago

Towards a less poor and more equal country

The Hindu  

In March, World Inequality Lab, a global research centre focused on inequality and public policies, published a working paper titled, ‘Income and Wealth Inequality in India, 1922-2023: The Rise of the Billionaire Raj’. It states that “the ‘Billionaire Raj’ headed by India’s modern bourgeoisie is now more unequal than the British Raj headed by the colonialist forces.” Inequality undermines both …

Patralekha Chatterjee | Why isn’t rising inequality turning into a poll issue?
8 months, 3 weeks ago

Patralekha Chatterjee | Why isn’t rising inequality turning into a poll issue?

Deccan Chronicle  

The view from the penthouse and the pavement is staggeringly different. By 2022-23, the top one per cent income and wealth shares are at their highest historical levels; India’s top one per cent income share is among the very highest in the world, higher than even South Africa, Brazil, and the United States, notes the paper, titled “Income and Wealth …

Inequality rising since 2000s, top one per cent in India holds 40 per cent wealth: study
9 months ago

Inequality rising since 2000s, top one per cent in India holds 40 per cent wealth: study

The Hindu  

Published : Mar 23, 2024 13:17 IST - 5 MINS READ Inequality in India has skyrocketed since the early 2000s, with the income and wealth share of the top one per cent of the population rising to 22.6 per cent and 40.1 per cent, respectively, in 2022-23, according to a working paper. The paper authored by Thomas Piketty, Lucas Chancel, …

Top 1% Indians’ income share is higher now than under British-rule: Data
9 months ago

Top 1% Indians’ income share is higher now than under British-rule: Data

The Hindu  

March 23, 2024 08:28 am | Updated 05:23 pm IST In 2022, 22.6% of the national income went to the top 1% of Indians. Chart 2 | The chart shows the year-wise share of national income for the top 10%, the bottom 50% and the middle 40% of the population To start with, in the 1950s and 60s, the income …

Mint Primer | Mind the income gap: Is India becoming a plutocracy?
9 months ago

Mint Primer | Mind the income gap: Is India becoming a plutocracy?

Live Mint  

Income and wealth inequality in India are at a historical peak with the share of the richest 1% higher than in countries like China and Brazil, finds a new study by the World Inequality Lab. Inequality in India declined post-independence till early-1980s, after which it began rising and skyrocketed beginning 2000s, shows the report titled ‘Income and Wealth Inequality in …

Inequality worsening in India with share of top 1% in total income at new high, says new paper co-authored by Piketty
9 months ago

Inequality worsening in India with share of top 1% in total income at new high, says new paper co-authored by Piketty

Hindustan Times  

The share of the top 1% of Indians in total income and wealth is expected to have reached its highest ever level in 2022-23, according to a working paper published by the World Inequality Lab at the Paris School of Economics. The working paper by four economics researchers – Nitin Kumar Bharti, Lucas Chancel, Thomas Piketty, and Anmol Somanchi – …

Lower inflation, increase in per capita income, revenue: Delhi Economic Survey
9 months, 3 weeks ago

Lower inflation, increase in per capita income, revenue: Delhi Economic Survey

Hindustan Times  

Finance minister Atishi on Friday cited a 22% increase in per capita income, the fastest Gross State Domestic Product growth, an 18% rise in tax collection, lower inflation and unemployment rates and said Delhi’s economy has increased at a record pace as she presented this year’s Economic Survey in the assembly. “GSDP of Delhi at current prices during 2023-24 is …

India's GDP grew by 8.4 per cent in December quarter, surpassing expectations
9 months, 3 weeks ago

India's GDP grew by 8.4 per cent in December quarter, surpassing expectations

Hindustan Times  

Indian economy grew by 8.4 per cent in October-December 2023 against 4.3 per cent a year ago, government data showed on Thursday. India's GDP grows by 8.4 per cent in December quarter It had projected a growth of 7.3 per cent for the current fiscal in its first advance estimates released earlier in January 2024. Earlier in the day, the …

Decoding India’s economic realities: Comparing the state of the economy under the NDA and UPA governments
10 months, 1 week ago

Decoding India’s economic realities: Comparing the state of the economy under the NDA and UPA governments

The Hindu  

February 12, 2024 11:06 pm | Updated February 13, 2024 09:54 pm IST With the BJP-led government exuding over-confidence on the state of the economy, the interim Budget presented earlier this month has shifted focus to fiscal consolidation. Even then, the simple truth which is evident from the official data is that on average, real GDP growth was at least …

India’s tax-to-GDP ratio to hit a record high of 11.7% of GDP in 2024-25: Revenue Secretary
10 months, 2 weeks ago

India’s tax-to-GDP ratio to hit a record high of 11.7% of GDP in 2024-25: Revenue Secretary

The Hindu  

February 06, 2024 08:19 pm | Updated 09:05 pm IST - NEW DELHI India’s tax-to-GDP ratio is expected to hit a record high of 11.7% of GDP in 2024-25, led by an uptick in the more ‘equitable’ direct taxes, and the government will continue to simplify and rationalise the tax regime to reduce disputes, litigation and intrusive means of enforcement, …

What should India do to become a wealthy nation by 2047?
10 months, 3 weeks ago

What should India do to become a wealthy nation by 2047?

The Hindu  

In the first session of The Hindu Lit Fest 2024, N. Ravi, Chairman of Kasturi and Sons Limited; Jayati Ghosh, Professor of Economics at the University of Massachusetts Amherst; Montek Singh Ahluwalia, former Deputy Chairman of the Planning Commission; Sanjay Kaul, development policy analyst and former IAS officer; and T.N. Along with inclusive growth, you also need the development of …

India among top countries with high income, wealth inequality: UNDP report
1 year, 1 month ago

India among top countries with high income, wealth inequality: UNDP report

Live Mint  

India has emerged among top countries with high income and wealth inequality but the share of the population living in multidimensional poverty fell from 25 to 15 per cent between 2015-16 and 2019-21, the UNDP said in a new report. Despite these successes, poverty remains persistently concentrated in states that are home to 45 per cent of the country's population …

Gross income of taxpayers rose 56% in 8 yrs, from ₹4.5 lakh to ₹7 lakh: Govt
1 year, 1 month ago

Gross income of taxpayers rose 56% in 8 yrs, from ₹4.5 lakh to ₹7 lakh: Govt

Hindustan Times  

NEW DELHI: The average gross income of individual taxpayers rose 56% from ₹4.5 lakh to ₹7 lakh in eight years ending assessment year 2021-22 and there was a 90% jump in the number of people filing income-tax returns during this period indicating rising income and widening of tax base due to India’s economic resilience and the government’s focus on compliance, …

‘Super rich’ incomes’ share ebbing amid middle-class mobility: CBDT
1 year, 1 month ago

‘Super rich’ incomes’ share ebbing amid middle-class mobility: CBDT

The Hindu  

India’s tax base has widened sharply since 2013-14, with individuals moving up the income ladder and the proportion of super-rich taxpayers’ incomes declining, the Central Board of Direct Taxes said on Thursday, days after the Congress cited income tax data to show widening income inequality in the country. The overall number of income tax returns filed by individuals has risen …

Congress attacks government on issue of income inequality
1 year, 2 months ago

Congress attacks government on issue of income inequality

The Hindu  

The Congress on October 23 charged that the gap between the ultra-rich and the middle class in the country is widening under the Modi government. Congress general secretary Jairam Ramesh said an analysis of the publicly available data on income tax returns for the period 2013-14 to 2021-22 confirms one of the essential themes of the Bharat Jodo Yatra — …

India Needs To Increase Per Capita Income, Says RBI’s Former Governor Rangarajan
1 year, 3 months ago

India Needs To Increase Per Capita Income, Says RBI’s Former Governor Rangarajan

ABP News  

Indian economy needs to grow fast to enhance the per capita income of the country, said the Reserve Bank of India’s former governor C Rangarajan on Saturday. Addressing the 13th convocation of the ICFAI Foundation for Higher Education, Rangarajan lauded India for becoming the fifth largest economy in the world but said this is not enough and work needs to …

The rise and rise of white-collar salaried aristocracy in India
1 year, 4 months ago

The rise and rise of white-collar salaried aristocracy in India

Hindustan Times  

There were around 76,000 more so-called crorepatis by income tax returns in 2022-23 when compared to 2021-22. But even more illuminating is the publication of Income Tax Return data – this includes both income tax and corporation tax filings – for assessment year 2019-20, 2020-21 and 2021-22 recently. The Indian economy has seen multiple disruptions such as the Global Financial …

PM Modi says 13.5 crore Indians rose above poverty line in last 5 years
1 year, 4 months ago

PM Modi says 13.5 crore Indians rose above poverty line in last 5 years

Live Mint  

New Delhi: A staggering 13.50 crore Indians have risen above the poverty line in the past five years, Prime Minister Narendra Modi said on Monday quoting a recent NITI Aayog report. Speaking at the Madhya Pradesh Rozgar Mela, the prime minister said, “When decisions are made with positive thinking, right intention, and full integrity, the whole environment gets filled with …

SBI Research reveals formalisation of MSMEs under Modi govt
1 year, 4 months ago

SBI Research reveals formalisation of MSMEs under Modi govt

Op India  

The Modi government has helped in the formalisation of the country’s Micro, Small and Medium Enterprises, revealed a research report published by the State Bank of India on Tuesday. Udyam registration across States and change in ITR filings across States, chart via SBI Research/ RBI “…Around 22 million micro small and medium enterprises have registered on the Udyam portal …We …

Income of Middle-Class Indians Jumps 3 Times In 10 Years; 13.6% Leave Lower-Income Strata: SBI Report
1 year, 4 months ago

Income of Middle-Class Indians Jumps 3 Times In 10 Years; 13.6% Leave Lower-Income Strata: SBI Report

News 18  

Showing a significant increase in middle-class income, India’s weighted mean income has jumped about three times from Rs 4.4 lakh to Rs 13 lakh between FY2012-13 and FY2021-22, according to an SBI Research report. In the assessment year 2011-12, 16 million people had filed ITR with the maximum concentration of 84 per cent population belonging to income group of up …

India’s per capita income to jump 70% by 2030, reach $4,000: Report
1 year, 4 months ago

India’s per capita income to jump 70% by 2030, reach $4,000: Report

Live Mint  

The per capita income of India is likely to grow around 70% by 2030 and is expected to reach $4,000 from current levels of $2,450, a research report by Standard Chartered Bank said. Telangana on top among states Telangana currently takes the top spot in the per capita income rankings with ₹2,75,443. However, the StanC report foresees a shift in …

'GDP growth exemplifies tenacity of people amid global challenges': PM Modi lauds India's outstanding economic progress
1 year, 6 months ago

'GDP growth exemplifies tenacity of people amid global challenges': PM Modi lauds India's outstanding economic progress

Firstpost  

According to data released by the National Statistical Office, India’s economy will see an overall growth of 7.2 per cent in FY23. The country has witnessed steady growth among some of the fastest-growing economies including China and the US Lauding the Indian economy’s exceptional growth in Q4 FY23, Prime Minister Narendra Modi said that the latest figures by National Statistical …

Delhi’s growth to surpass national average at 9.18%: State economic survey
1 year, 9 months ago

Delhi’s growth to surpass national average at 9.18%: State economic survey

Live Mint  

Gross state domestic product of Delhi may grow 9.18% in the current financial year, while the country’s real GDP is seen around 7%, according to the Delhi Economic Survey 2022-23, presented by state transport and environment minister Kailash Gahlot on Monday. The state nominal GDP is also projected to touch ₹1,043,759 crore in 2022-23 at current prices, a growth of …

Key takeaways from Delhi Economic Survey
1 year, 9 months ago

Key takeaways from Delhi Economic Survey

Hindustan Times  

Delhi's finance minister Kailash Gahlot on Monday tabled state Economic Survey in the Assembly. Delhi Economic Survey top points: 1) According to the survey report, the per capita income of Delhi at current prices reached at the level of ₹3,89,529 in 2021-22 as compared to ₹3,31,112 in 2020-21. 2) "The Advance Estimate of Per Capita Income of Delhi at current …

India's Per Capita Income Doubles Since 2014-15
1 year, 9 months ago

India's Per Capita Income Doubles Since 2014-15

News 18  

India’s per capita income in nominal terms doubled to Rs 1,72,000 since 2014-15 when the Narendra Modi-led NDA came to power but uneven income distribution remains a challenge. “You are looking at GDP in current prices, but if you account for inflation, the increase is much less,” said noted development economist Jayati Ghosh on doubling of per capita income in …

India's per capita income doubled since 2014-15, but uneven income distribution remains a challenge
1 year, 9 months ago

India's per capita income doubled since 2014-15, but uneven income distribution remains a challenge

India Today  

Despite India's per capita income in nominal terms doubling to Rs 1,72,000 since the Narendra Modi-led NDA came to power in 2014-15, the issue of uneven income distribution remains a persistent challenge, experts were quoted as saying by news agency PTI. However, after adjusting for inflation, the per capita income has risen by approximately 35 per cent from Rs 72,805 …

India's GDP Growth: Economists Must Not Go by Face Value & Assess Data Robustly
1 year, 9 months ago

India's GDP Growth: Economists Must Not Go by Face Value & Assess Data Robustly

The Quint  

As argued before, while reviewing the macro-elements and components of growth in any statistical interpretation exercise, it’s difficult to get the full picture one needs. For example, keeping aside the base effect, the fact that private consumption demand is still woefully low, indicates how much of the low-middle income and middle-income class in India is ‘consuming less’ and their demand …

Income tax cuts, factory perks: What to watch for in Budget 2023
1 year, 10 months ago

Income tax cuts, factory perks: What to watch for in Budget 2023

Live Mint  

India’s budget on Wednesday will test the government’s resolve to stay fiscally prudent as expectations of lower taxes, wider social security net and further boost to production gather steam before national elections. Finance Minister Nirmala Sitharaman may tweak income-tax slabs to provide relief to the nation’s vast middle class and increase spend on the poor through programs such as rural …

Budget 2023: Why govt should consider tax relief despite limited fiscal room
1 year, 11 months ago

Budget 2023: Why govt should consider tax relief despite limited fiscal room

India Today  

An incremental tax relief in the upcoming Union Budget 2023 could help the central government provide consumption support to the Indian economy in FY24 and shield it from the worsening financial environment in the West. Recently, global economic experts, including International Monetary Fund Deputy Managing Director Gita Gopinath, noted that an inflation-driven price shock could disrupt the lives of people …

With 8-9% Growth, It Will Take 20 Years for India to Become Developed Nation: RBI's Former Governor
1 year, 11 months ago

With 8-9% Growth, It Will Take 20 Years for India to Become Developed Nation: RBI's Former Governor

News 18  

Noting that the achievement of $5 trillion economy is a short term “aspirational goal,” former RBI Governor C Rangarajan on Saturday said even after that India will still be known as middle income country with per capita income $3472. Rangarajan further said in order to reach the level of an upper middle-income country, it will take another two years and …

Parsa Venkateshwar Rao Jr | Towards a more affluent India: Future not all rosy
2 years, 1 month ago

Parsa Venkateshwar Rao Jr | Towards a more affluent India: Future not all rosy

Deccan Chronicle  

The optimistic projection of the People Research on India’s Consumer Economy is that by 2047 -- when Independent India turns 100 -- the country’s middle class will constitute 63 per cent of the population. The experience of the last 30 years has shown that we are better off with a free market economy despite numerous governmental irritants and the more …

Can India break into high-income league by 2047?
2 years, 3 months ago

Can India break into high-income league by 2047?

Live Mint  

NEW DELHI : For many of us, Singapore is a developed nation. The United Nations classifies them as merely “developing", along with 123 other countries, including India, which currently has a GNI per capita of $2,170. In Adani's NDTV bid hangs a cautionary tale Centre mulls cutting tax rates in new income tax regime Why rising interest rates don't make …

Income Inequality Declined in India During Covid-19, Nation Managed Shocks Well: SBI Report
2 years, 5 months ago

Income Inequality Declined in India During Covid-19, Nation Managed Shocks Well: SBI Report

News 18  

Inequality of Income in India has declined significantly since FY17, while inequality has also declined during the pandemic, according to the latest SBI Ecowrap research report. The decline in income inequality has been significant since FY17, the year of big bang formalisation that started with demonetisation, RERA reforms and GST reform in FY18, said the report authored by Soumya Kanti …

Number Theory: How rich are India’s richest – and how poor are the rest?
2 years, 9 months ago

Number Theory: How rich are India’s richest – and how poor are the rest?

Hindustan Times  

The scourge of wealth inequality is a global phenomenon. In a recently released working paper “The sky and the stratosphere: concentrated wealth in India during the lost decade”, we studied the changes in the household wealth distribution between 2012 and 2018. Official data suggests that the Gini coefficient of per adult household wealth in India fell from 0.718 in 2012 …

Most Indians want tax on the rich, top firms
2 years, 10 months ago

Most Indians want tax on the rich, top firms

Deccan Chronicle  

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 …

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