Itās time to tax the wealthy and bridge inequalities
By all accounts, India is considered one of the most unequal countries in the world, and inequality has been on the rise in recent years.
Why society should be concerned about inequality and poverty
Recently, after my talk on the current economic situation in India at a private university, I was asked, why those students should be concerned about inequality and poverty.
Black hole of public finance: Unequal fiscal burden on citizens
73% of the wealth generated in India in 2017 went to the richest 1%, while the poorest half of the population saw only a 1% increase in their wealth.
The Fiscal Challenges of the Realization of Workers’ Rights: Do They Exist?
For the past 36 years, banks' pensions have not been upgraded. No social security, like universal basic income, is considered. The vast majority of unorganised sector workers (94%) do not have access to provident...
When less than 4% of Indian dollar millionaires pay income tax
In FY18, the last year for which disaggregated income tax data is available, only 29,002 ITRs declared income above Rs 5 crore, while Credit Suisse said India had 7.25 lakh dollar millionaires (the wealth...
How the row over āfreebiesā hides Indiaās failure to meet the basic needs of its citizens
While it targets welfare schemes, the Union government has also written off crores in outstanding loans for Indiaās rich and given huge corporate tax rebates.
Windfall tax on corporations goes as 5% GST on food items kicks in
In keeping with its anti-people and pro-corporate tax policy, the Central government withdrew the windfall tax on oil exports on July 19th ā 19 days after it was imposed ā with effect from July...
Worshipping Ambani, Adani? Lower tax for the rich ‘means’ higher tax for the poor
The Indian tax system has been regressive for long with direct tax contributing less than indirect tax ā contrary to what happens in developed economies. It is also known that tax incentives benefit corporates...
Why low tax for the rich means high tax & lower Govt support for the poor
The Indian tax system has been regressive for long with direct tax contributing less than indirect tax ā contrary to what happens in developed economies. It is also known that tax incentives benefit corporates...
Understanding Goods and Service Tax (GST), its Impact and Implications
Conversations on Finance Understanding Goods and Service Tax (GST), its impact and implications GST, as a concept, introduced by the UPA government in the budget speech by Chidambaram, is a reality today. Pranab Mukherjee,...