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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
Angst over the small number of taxpayers does not account for the reality of ‘everyone pays GST’. Moreover, the facts clearly show that the income tax base is wide enough and growing.
Income tax is an important element of the government’s budget, representing 19 paise of every rupee it earns. Its importance gains another dimension in India because only a small proportion of the population actually pays any income tax.
A dimension that is clearly fraught with emotion, as was amply demonstrated a couple of days ago.
On X (earlier Twitter), there was quite the storm over the low proportion of Indians paying income tax. A Times of India post-budget article had lent fodder to the rants. The piece claimed that “Indians who pay income tax are a rare breed” and, in …
Fiscal discipline holds on paper, but the number is propped up by higher borrowing and revenue sources that are far from stable.
Beyond marginal savings for consumers, the promises held out by the GST cuts are a tall order. Maybe even delusional.
Since the revision in GST rates and notices demanding payment of taxes with retrospective effect, the once thriving online gaming sector has been saddled with mounting losses and competition from illegal offshore platforms.
