If the government have the guts to tax EVERYONE (including farmers) in the country who earns an annual income of more than 10 lakhs. We may not have a fiscal deficit!!
@@ranjiguru guess which career in today's times has the most farmlands in our country and you will get the answer so as to why they don't bring in such regulations
I believe you may be presenting a skewed perspective regarding farmers' earnings. It's important to highlight the inconsistency of their income, the significant input costs they face, and the fact that even after receiving subsidies, their net income remains distressingly low. Could you provide specific data to support this claim? For example, data on the percentage of input costs relative to earnings or how much subsidies offset these costs would be valuable. Additionally, highlighting the fluctuations in farmers' income due to seasonal variations and market dependency can strengthen your argument. Comparing this with other sectors heavily reliant on FDI can emphasize how farmers are truly swadeshi, showcasing their unique role in sustaining the economy despite the challenges they face. These points would create a stronger, data-backed narrative for the reader.
Come on. You have free electricity, water, bus, metro, ladli behen stipend for paying no direct taxes, which is paid by just 3% taxpayers. Itna paisa mein itna hi milega !!!
Just stop Paying Humongous subsidies to Farmers & Agri sectors, And TAX them, See the type of Transformations it brings to Indian Economy, The govt. then would cut taxes, Increase Spending of Infra, Provide Financial help to MSMEs and Entrepreneurs etc And for all those crying about Bad services in India on Nirmala Sitaraman, Those services are provided by LOCAL and STATE GOVTS' AT BEST, Not Center, Center only provides Long Expressways, Railway Upgradation, National Security, Technological Transformation, Income Tax and GST Changes, Support Entrepreneurs and Bring Large-Scale Reforms, WHICH THIS GOVT. HAS DONE, You cry on your Local govt's becoz you pay property taxes, road taxes, pollution taxes, vehicle tax and others taxes to States and ONLY 7% of Indians pay any IT, while TOP 0.45% PAY 80% OF All Income Taxes and Corporate Taxes, Basically This country is being run by TOP-0.4% to large extent and Top-7% TO the remaining extent, FARMERS PAY ZERO Taxes
@@nomulahemanthGovt is not addressing, but focusing on wanting farming land to be run by pro-govt Corporations. Factors contributing to farmers distress: - High cost electricity from imported low-quality coal sold as high quality - 5% gst on Fertilizers imported from China (60%) & Russia (20%) - Rising diesel costs - 18% gst on pesticides, 5% gst on seeds, 12% gst on agricultural equipment & agri services. - Artificially low market prices by buyers for crops like pulses, increase farmers losses.
Govt needs to cut spending on their luxury of big houses..imported cars, a battalion of security men around them all the time, many house helps and many more..each and every parliamentarian in india is a millionaire..
Not to mention many bureaucrats, judges and the infernal pay commissions which guarantee fat increments without justification when hundreds of millions of economically backward people are suffering.
Today, while taking my 4-year-old to school, we got caught at a signal where a bus started spewing huge clouds of black smoke right on us. It was suffocating, frustrating, and honestly disheartening. Paying soo much tax still no proper fresh air.
From your incident, it seems like you were on a two-wheeler. If that's the case, Amma understands your struggle and has decided to safeguard you. To protect you from suffocating and frustrating pollution, Amma is planning to introduce a new tax on two-wheelers. Additionally, she will impose a 100% ‘smoke-free’ tax on petrol and diesel. So next time, you won’t be on a bike-you’ll be on a bus, generously spreading black smoke into others' faces. Don’t forget to thank Amma!
Just stop Paying Humongous subsidies to Farmers & Agri sectors, And TAX them, See the type of Transformations it brings to Indian Economy, The govt. then would cut taxes, Increase Spending of Infra, Provide Financial help to MSMEs and Entrepreneurs etc And for all those crying about Bad services in India on Nirmala Sitaraman, Those services are provided by LOCAL and STATE GOVTS' AT BEST, Not Center, Center only provides Long Expressways, Railway Upgradation, National Security, Technological Transformation, Income Tax and GST Changes, Support Entrepreneurs and Bring Large-Scale Reforms, WHICH THIS GOVT. HAS DONE, You cry on your Local govt's becoz you pay property taxes, road taxes, pollution taxes, vehicle tax and others taxes to States and ONLY 7% of Indians pay any IT, while TOP 0.45% PAY 80% OF All Income Taxes and Corporate Taxes, Basically This country is being run by TOP-0.4% to large extent and Top-7% TO the remaining extent, FARMERS PAY ZERO Taxes
Govt is not addressing, but focusing on wanting farming land to be run by pro-govt Corporations. Factors contributing to farmers distress: - High cost electricity from imported low-quality coal sold as high quality - Rising diesel costs - 18% gst on pesticides, 5% gst on seeds, - 5% gst on Fertilizers imported from China (60%) & Russia (20%) - 12% gst on agricultural equipment & agri services. - Artificially low market prices by buyers for crops like pulses, increase farmers losses.
And to add insult to injury corporates despite paying lesser in taxes have not made CAPEX or contributed to job creation! It's a shame! The increased profit have all been hoarded away as personal fortune of promoters and senior leadership. That should in some part explain, the rapid increase in prices of the Camellias!
@shivrajrana7427 the other aspect of that is the increased burden on compliances and eating habits that in turn take a huge chunk out of the profits of the company Just to advertise that we follow foreign standards which in turn only make small shops shut and be taken over by multinationals
Just stop Paying Humongous subsidies to Farmers & Agri sectors, And TAX them, See the type of Transformations it brings to Indian Economy, The govt. then would cut taxes, Increase Spending of Infra, Provide Financial help to MSMEs and Entrepreneurs etc And for all those crying about Bad services in India on Nirmala Sitaraman, Those services are provided by LOCAL and STATE GOVTS' AT BEST, Not Center, Center only provides Long Expressways, Railway Upgradation, National Security, Technological Transformation, Income Tax and GST Changes, Support Entrepreneurs and Bring Large-Scale Reforms, WHICH THIS GOVT. HAS DONE, You cry on your Local govt's becoz you pay property taxes, road taxes, pollution taxes, vehicle tax and others taxes to States and ONLY 7% of Indians pay any IT, while TOP 0.45% PAY 80% OF All Income Taxes and Corporate Taxes, Basically This country is being run by TOP-0.4% to large extent and Top-7% TO the remaining extent, FARMERS PAY ZERO Taxes
@rajx7120 your mobile phone carrier companies before used to be a lot now just 3... Oil producers just reliance.. major ports .. online ecommerce have taken away kirana stores profit
@@xxyz2023 and as per you that’s a valid justification? When the very reason that we are stuck in this mess is that those in power only increase corruption and even “mint” have covered the amount of increase in the past few years in their article
@@NANDHAKUMAR-fc3hp Corporate Taxation should be linked to employment generation. Get a suitable formulae after consultation so that corporates invest in projects rather than focusing on treasury income on speculative gains and real estate.
Most literate people know that the middle and poor class are taxed before expenses, whereas the rich are only taxed after. It would be naive to think that any government wants the common man to prosper as opposed to the rich that have a major hand in funding the rise of politicians. We keep talking about rising expenses but never have we seen a government address the issue. We are the new form of slaves.
Freebies and government employee salries increased a lot from 2008. Both by state and central governments. They will remove capital gains tax and add to regular income in 2 to 3 years.That is the only way to keep with expenditure.
WHAT SERVICES?? WHO PROVIDES THEM??Just stop Paying Humongous subsidies to Farmers & Agri sectors, And TAX them, See the type of Transformations it brings to Indian Economy, The govt. then would cut taxes, Increase Spending of Infra, Provide Financial help to MSMEs and Entrepreneurs etc And for all those crying about Bad services in India on Nirmala Sitaraman, Those services are provided by LOCAL and STATE GOVTS' AT BEST, Not Center, Center only provides Long Expressways, Railway Upgradation, National Security, Technological Transformation, Income Tax and GST Changes, Support Entrepreneurs and Bring Large-Scale Reforms, WHICH THIS GOVT. HAS DONE, You cry on your Local govt's becoz you pay property taxes, road taxes, pollution taxes, vehicle tax and others taxes to States and ONLY 7% of Indians pay any IT, while TOP 0.45% PAY 80% OF All Income Taxes and Corporate Taxes, Basically This country is being run by TOP-0.4% to large extent and Top-7% TO the remaining extent, FARMERS PAY ZERO Taxes
I want this only. This might not be as bad as it sounds for retail investors. Only reason some folks are still working despite saving for retirement is because they have to pay capital gains even if my make 0 income. Once they roll this out , they will quit job & live frugally within 6-10 Lakhs . This is a good share of 50-60 year olds. Each year just sell stock portfolio little by little at 0% tax effectively. Or like sell the stock portfolio, invest in a farmhouse in T3 cities with clean air & water and live happily ever after for < 6 LPA. They will always allow reinvestment back to real estate. Never sell that house & just pass it down to next generation. Then theres a trend where one partner works and assets are purchased on other partners name entirely. That silent partner just cashes out capital gains little by little every year. The silent partner takes care of the home & looks after the kids also saving childcare & food costs. So Lets look at the bright side of stuff !!
That's why I am cutting down my monthly expenses by 5% every month untill I can't reduce it any more. What can I do if car sales are not happening and FMCG are complaining about low consumer demand. With this kind of job insecurity and extractive nature of income tax policies, this is the only option I am left with. Don't blame me, blame government policies and Nirmala Tai.
This should be the collective measure we all saried individuals should take up, completely stop consuming anything which is above the 5% GST limit, hoard away the money into foreign securities using the LRS, stop SIPs completely in Indian markets, avoid spending any money on tourism rather go to south east asis, last but not least wake up the opposition that they need not rely only on muslim votes
@@karthikeyan53Most Indian corporate companies cannot survive outside due to high competition. Indian corporates are pampered and protected group by govt from competition with China and other countries.
Paying tax is fine, but in return i am getting, no water, polluted air and results in health issues. Privatization of public service should be in place.
If farmers are exempt from income tax then the people working to provide fertilizers, electricity, water, agri machinery, healthcare, etc to these farmers should also be exempted from IT
Then government staff working in Ministry of Agriculture, rural development, water resources management should also be exempted from paying income tax.
@SUstaxdnerange yes. If the farmer is using phone, internet, tv, bank account, etc then all people working in telecom, infocom, software, electronics and banking should also be exempted.
Farmers are exempted for a reason..but why no one talking about taxing high on corporates..Their profit is ticketing but their tax margin is less compared to their profit.. Why so??Farmers on the other side gets their profit cut every year, thanks to corporates and government..
Of those who pay taxes, how many earn let us say Rs.12 lakhs or less? If these are not taxed, how much would the Gov loose in tax collection? Probably not much. These are the people who suffer the most. By not taking this segment of the middle class, it will give boost to the economy as they will spend more creating a cycle of more demand for good and services.
Total direct taxpayers are 3%. Of that, 50% is paid by 0.6% who earn > 10 lakhs, and rest by the remaining 2.4% who earn less than 10 lakhs. 11.6 lakh crore in personal taxes and 10.7 lakh crore in corporate tax. And both the collections have actually doubled in the last 5 years. Things are saturated, for salaried class. We need to tax the rich farmers. Force crop diversification and farm reforms, to reduce pulse/oilseed imports and crop diversification.
15 lakh slab is too steep. It's mostly IT professionals who are paying shit tonn of taxes. If IT falls, Indias growth halts. These IT people are very polite and introverts they won't protest in streets so government just keeps looting them. What government doesn't understand is these people have other options, they'll leave India when they can
Govt should link income tax slab to indexation... Refines GST like the proposed for premium items, and most importantly remove inefficiency from system.
If nation had got an well educated PM and a sensible FM.... Now India would have been self reliant and would have moved way forward than other nations...
Yeah, that was the state of india in 2024 right? dude, this is not a movie that life changes in short period. development takes 30-40 years atleast. just check if we are on the right trajectory
Aah! Here comes the greatest economist in the world. Must be a fan of Raga-Economics, 'khatkhat' to make everyone out of poverty! Like the journalist,. presenting a partial view of the problem.
When there is no income tax if your income is 7-8 lacs, this should change, you cannot be increasing tax exemption and burden salaried people earning more than 8 lacs.
Even the sovereign gold bond too a great burden on government - they issued the bonds without hedging against the commodity @ gold . Now it’s turn out to be heavy loss making binds for government and good investment bet for investors
Cut down expenses, retain buying power by buying gold in grams with salary, an extreme step is to buy second hand to avoid GST. No other way to keep government hands off of your money?
Poor economics understanding from "the print", it sounded like a accountant briefing. If income tax is raising will it not reduce public spending ? then how will corporate revenue will grow ? are we export driven economy. Bookish understanding !!
Interesting but doesn’t mention absolute increase in personal income tax collection. What is mentioned is percent contribution to center’s overall revenue collection. Out of a population of 142 crores only 5 to 6 crores are taxpayers. Huge amount of tax that is due to government is not collected for political reasons and strait forward corruption. The defaulters are in plain sight of everyone except the tax collectors. Loss of revenue is thus humongous. Competition in granting freebies for buying votes is destroying not only the economy and discipline but the future of this nation that has every potential to be great.
This govt is good at raising the expectations by hype and then giving peanuts to citizens. 1. IPC got rebranded in BNS without changing anything promisingly. 2. VAT was replaced with GST without making it any simpler 3. Note bandi was complete chaos altogether.
It's simple. For now cut income tax substantially. Especially 15 lakh slab and add to deficit. Slowly cut government spending, government shouldn't grow that big
Debt not reduced, subsides lifted, Crude price came down, Excise duty on oil products increased ,no price cut down on Petrol , Diesel, LPG. Oil bonds not repaid, Cheap Crude from Russia, Debt from IMO increased, 3.5 Lakh Cr taken out from RBI reserves, collection from GST with 5 slabs increasing year by year. Tax on LTCG and STCG increased....Still struggling to maintain economy and Rupee value . This Govt Run by Propaganda and Media.. no real economists in cabinet. One man show. Where is all this money being pumped out? No one dare to ask. Our bad fate. 😢 we dont know when we get rid of 😢😢
I'm okay to pay income tax if you exclude me from gst, that's double taxation. So if the govt gives me a way as a salaried person to claim back gst, then fine I'll pay.
Multiple Subsidies, loan waivers to businesses, farmers, etc, tax concessions to SEZ and other businesses, not collecting tax equally from everyone, no proper consumer or labour law is followed and we are taken for granted. There are many more to list down which are not efficiently regulated. So after all it’s clear that tax payers will continue to suffer. My blood boils when I see hefty tax gets deducted every month.
If they tax the rich farmers, who have net profit over 10 lakhs we can easily get minimum of 20-30k cr in taxes. But a lot of these rich farmers are politicians and they would never allow this as it would affect their “business”
Giving free rations is actually not helping, people are not working, this leads to non contribution to GDP. More taxes on middle and rich class which is again non sustainable.
People don't like to pay income tax because there are no benefits like social security, elderly healthcare, nothing. Not even fresh air. Then why waste Money on Taxes.
Yes. But indirect taxes ..yes, preposterous taxes on fuel despite a fall in crude prices and obscenely profiteering from people..yes, imrpoving tax compliance..yes, insane taxes on equity and investments even if making a loss..yes, reduction in interest rates..yes. These are few things govt can do without taking loss. But No....also insane taxes on cars and bikes, zero incentive for EV but will tax fuel and ICE vehicles insanely to encourage EV. The problem is everything is at the cost of tax paying individuals.
Just stop Paying Humongous subsidies to Farmers & Agri sectors, And TAX them, See the type of Transformations it brings to Indian Economy, The govt. then would cut taxes, Increase Spending of Infra, Provide Financial help to MSMEs and Entrepreneurs etc And for all those crying about Bad services in India on Nirmala Sitaraman, Those services are provided by LOCAL and STATE GOVTS' AT BEST, Not Center, Center only provides Long Expressways, Railway Upgradation, National Security, Technological Transformation, Income Tax and GST Changes, Support Entrepreneurs and Bring Large-Scale Reforms, WHICH THIS GOVT. HAS DONE, You cry on your Local govt's becoz you pay property taxes, road taxes, pollution taxes, vehicle tax and others taxes to States and ONLY 7% of Indians pay any IT, while TOP 0.45% PAY 80% OF All Income Taxes and Corporate Taxes, Basically This country is being run by TOP-0.4% to large extent and Top-7% TO the remaining extent, FARMERS PAY ZERO Taxes
I think Government is also agreeing to your view that TOP 0.4% is paying 80% of tax right now. So what they are doing is taking money from the pockets of 99.6% people and give it to TOP 0.4% , so that 99.6% gets decimated and TOP 0.4% grows. In this way tax collection cost of our country gets reduced and they can collect 99% tax from few corporates
Why the focus is on GST when talking about Income Tax. Compare the GST slabs for products /services availed by the 2% salaried class paying the tax, it is double taxation. These 2% is also not safe guarded by the labour laws. At least have the labor laws strengthened to protect these people.
Because it wants to pay salaries for IT dept 3LAKH exemption was there 1p yrs ago..add inflation and 3L should have been 10L . Government is adding to inflation by taxing inflation...
They need to start considering printing notes. Deficit financing is the only way to radically push the country’s growth rate to double digits . The usual revenue sources like tax and resource auctions won’t help in pushing our growth much further than the usual 6-8%. And that growth rate is not enough to take our country to the status of developed country. Our demographic dividend won’t last beyond another 2 decades after which v will start facing the problem of growing old before growing rich . V need to start printing notes to fund major national projects while cutting personal taxes drastically to boost domestic consumption as export based growth is no longer going to be relevant for our growth with all the global wars and uncertainties . The equation is simple : reduce taxes drastically , encourage ppl to spend , print notes for major national projects . And do all this quickly cos our window is closing rapidly. Even a countries like Japan and Germany , whose per capita income is far higher than ours and r far more developed r struggling to manage the problem of falling demography and old age pensions. I don’t even want to think about our situation in 2050-2060 if v don’t reach developed country status by then .
I m unable to appreciate continuous rise in pit , despite economic distress. Tdy also there is observation that corporate have risen tremendously but not salaries. % of tax payers is more or less same.
When you have 1 crore in FD , you need not pay income tax with the current slabs, you will get the TDS as returns. This is the pathetic state of Indian Tax.
If government thinks that they can keep on increasing income tax payable, increase capital gains taxes to fund freebies, revadies, 8 th Pay commission, huge cooruption in government departments & projects and win upcoming election in 2029 then income tax payers, investors are going to resist, oppose and criticise collection of high income tax & capital gains taxes.
I would be happy for not reducing tax if government services are good enough for which we pay tax. Most of expenses of any family goes towards education and medical. And both services we get from government but both are worst. Even they can’t afford to reduce the tax but what step they have taken till now to stop corruption and government services. Did they improve the selection process of candidates for government job.
“GST is paid ONLY when you buy something “. Hi, are you living under the rock for so many years? GST is there on services too. You can name exempted goods and services which are there, with fingers in your hand and legs. Monthly salaried persons are paying advance income tax monthly but paying GST daily.
This government doesn’t listen to financial experts. RBI governors with a finance background are expelled and some with a history and computer background are appointed as RBI governors. FM with a commerce background. Aa gaye cache din!
Right to recall should be exercised . They will think twice before taking such decisions.Poor ya middle class has suffered enough ,cant take more of these rich guys smirk at us.
Yes, they can, taxation as a way to generate revenue is just backwards. All the major countries (except few oil producing ones) are always going to be in fiscal deficit. #Modern Monetary Theory.
Avoid provoking Amma for at least the next three days. If she gets angry, dear friends, you're in trouble... Amma has the power to play with various tax options beyond your imagination. So, be careful!
If the government have the guts to tax EVERYONE (including farmers) in the country who earns an annual income of more than 10 lakhs. We may not have a fiscal deficit!!
will never happen due to votebank politics..farmers will block Delhi
@@ranjiguru guess which career in today's times has the most farmlands in our country and you will get the answer so as to why they don't bring in such regulations
Farmers 10 lacks income includes 4 lacks investment and 6 lacks worth of hardwork or manpower😂😂😂
I believe you may be presenting a skewed perspective regarding farmers' earnings. It's important to highlight the inconsistency of their income, the significant input costs they face, and the fact that even after receiving subsidies, their net income remains distressingly low. Could you provide specific data to support this claim? For example, data on the percentage of input costs relative to earnings or how much subsidies offset these costs would be valuable. Additionally, highlighting the fluctuations in farmers' income due to seasonal variations and market dependency can strengthen your argument. Comparing this with other sectors heavily reliant on FDI can emphasize how farmers are truly swadeshi, showcasing their unique role in sustaining the economy despite the challenges they face. These points would create a stronger, data-backed narrative for the reader.
They block Delhi every year, it's nothing new. A bunch of frauds all of them.
We dont even have clean air to breathe even in Tier 2 cities
in Tier 1 cities, not tier 2..eve the capital is a big shithole where Modi lives
Churchills prophecy has come true.😊
Can you mention the prophesy @@jayaramprabhu5595
Come on. You have free electricity, water, bus, metro, ladli behen stipend for paying no direct taxes, which is paid by just 3% taxpayers.
Itna paisa mein itna hi milega !!!
Whats the prophesy @@jayaramprabhu5595
Start a business.... It seems criminal to be a salaried employee
Then you will have to pay hafta to political goons, police and whatnot. Only people with good connections can get away from these.
My god, salaried class will be crushed till death.
Thanks for the great analysis.
Not if you plan your taxes properly. That's what rich people do
@@yj9032 middle class can't evade taxes
DHARM KA KHATRA JOBLESS ECONOMY & TAX TERROR ARE TIME TESTED POLITICAL WEAPON TO CRUSH MIDDLE CLASS...TO SURVIVE POLITICAL & BILLIONAIRE CLASS.....
Just stop Paying Humongous subsidies to Farmers & Agri sectors, And TAX them, See the type of Transformations it brings to Indian Economy, The govt. then would cut taxes, Increase Spending of Infra, Provide Financial help to MSMEs and Entrepreneurs etc And for all those crying about Bad services in India on Nirmala Sitaraman, Those services are provided by LOCAL and STATE GOVTS' AT BEST, Not Center, Center only provides Long Expressways, Railway Upgradation, National Security, Technological Transformation, Income Tax and GST Changes, Support Entrepreneurs and Bring Large-Scale Reforms, WHICH THIS GOVT. HAS DONE, You cry on your Local govt's becoz you pay property taxes, road taxes, pollution taxes, vehicle tax and others taxes to States and ONLY 7% of Indians pay any IT, while TOP 0.45% PAY 80% OF All Income Taxes and Corporate Taxes, Basically This country is being run by TOP-0.4% to large extent and Top-7% TO the remaining extent, FARMERS PAY ZERO Taxes
@@nomulahemanthGovt is not addressing, but focusing on wanting farming land to be run by pro-govt Corporations. Factors contributing to farmers distress:
- High cost electricity from imported low-quality coal sold as high quality
- 5% gst on Fertilizers imported from China (60%) & Russia (20%)
- Rising diesel costs
- 18% gst on pesticides, 5% gst on seeds, 12% gst on agricultural equipment & agri services.
- Artificially low market prices by buyers for crops like pulses, increase farmers losses.
Income tax is organized loot. One way traffic without any benefits for the looted.
And then GST.
Taxes aren't investment
@@anujsethi7845 but it is not hapta either. There cannot be free money for anybody
@@orunabho everyone are paying as per the tax laws so everyone is equal nobody is doing charity.
Taxes are collected to correct the market injustices.
@@anujsethi7845 but that is not happening..there is a lot of parity
Govt needs to cut spending on their luxury of big houses..imported cars, a battalion of security men around them all the time, many house helps and many more..each and every parliamentarian in india is a millionaire..
Another idiotic argument, Govt. doesn't import cars, 95% OF Cars in India are Made-in-India and India exported more than 6 Lakh+ cars in 2022
Not to mention many bureaucrats, judges and the infernal pay commissions which guarantee fat increments without justification when hundreds of millions of economically backward people are suffering.
Also need to cutdown the expenditure in non essential projects . And leakage in the form of corruption
@SaurabhKakkar-ud7yh 🤣🤣Govt doesn't Import Cars, 99% of Cars in India are Made in India, Infact India exported more than 6 Lakh Cars in 2023-24 FY
@@nomulahemanth 60% of the autos are made by foreign auto companies who will repatriate their earnings back abroad..
Today, while taking my 4-year-old to school, we got caught at a signal where a bus started spewing huge clouds of black smoke right on us. It was suffocating, frustrating, and honestly disheartening. Paying soo much tax still no proper fresh air.
From your incident, it seems like you were on a two-wheeler. If that's the case, Amma understands your struggle and has decided to safeguard you. To protect you from suffocating and frustrating pollution, Amma is planning to introduce a new tax on two-wheelers. Additionally, she will impose a 100% ‘smoke-free’ tax on petrol and diesel. So next time, you won’t be on a bike-you’ll be on a bus, generously spreading black smoke into others' faces. Don’t forget to thank Amma!
@SureshMenon-c9x will amma leave anything for us ??
what is new, continued gutting of middle class 2% earners.
and even more inflation , isn't it fun ? ( for the rich and poor and ofc mfs sitting in the Hon'ble MoF )
Just stop Paying Humongous subsidies to Farmers & Agri sectors, And TAX them, See the type of Transformations it brings to Indian Economy, The govt. then would cut taxes, Increase Spending of Infra, Provide Financial help to MSMEs and Entrepreneurs etc And for all those crying about Bad services in India on Nirmala Sitaraman, Those services are provided by LOCAL and STATE GOVTS' AT BEST, Not Center, Center only provides Long Expressways, Railway Upgradation, National Security, Technological Transformation, Income Tax and GST Changes, Support Entrepreneurs and Bring Large-Scale Reforms, WHICH THIS GOVT. HAS DONE, You cry on your Local govt's becoz you pay property taxes, road taxes, pollution taxes, vehicle tax and others taxes to States and ONLY 7% of Indians pay any IT, while TOP 0.45% PAY 80% OF All Income Taxes and Corporate Taxes, Basically This country is being run by TOP-0.4% to large extent and Top-7% TO the remaining extent, FARMERS PAY ZERO Taxes
Govt is not addressing, but focusing on wanting farming land to be run by pro-govt Corporations. Factors contributing to farmers distress:
- High cost electricity from imported low-quality coal sold as high quality
- Rising diesel costs
- 18% gst on pesticides, 5% gst on seeds,
- 5% gst on Fertilizers imported from China (60%) & Russia (20%)
- 12% gst on agricultural equipment & agri services.
- Artificially low market prices by buyers for crops like pulses, increase farmers losses.
And to add insult to injury corporates despite paying lesser in taxes have not made CAPEX or contributed to job creation! It's a shame! The increased profit have all been hoarded away as personal fortune of promoters and senior leadership. That should in some part explain, the rapid increase in prices of the Camellias!
@shivrajrana7427 the other aspect of that is the increased burden on compliances and eating habits that in turn take a huge chunk out of the profits of the company
Just to advertise that we follow foreign standards which in turn only make small shops shut and be taken over by multinationals
Just stop Paying Humongous subsidies to Farmers & Agri sectors, And TAX them, See the type of Transformations it brings to Indian Economy, The govt. then would cut taxes, Increase Spending of Infra, Provide Financial help to MSMEs and Entrepreneurs etc And for all those crying about Bad services in India on Nirmala Sitaraman, Those services are provided by LOCAL and STATE GOVTS' AT BEST, Not Center, Center only provides Long Expressways, Railway Upgradation, National Security, Technological Transformation, Income Tax and GST Changes, Support Entrepreneurs and Bring Large-Scale Reforms, WHICH THIS GOVT. HAS DONE, You cry on your Local govt's becoz you pay property taxes, road taxes, pollution taxes, vehicle tax and others taxes to States and ONLY 7% of Indians pay any IT, while TOP 0.45% PAY 80% OF All Income Taxes and Corporate Taxes, Basically This country is being run by TOP-0.4% to large extent and Top-7% TO the remaining extent, FARMERS PAY ZERO Taxes
if everything is monopolised by two companies other industrialists will go away and invest abroad
@@subhajitnayak9882Can you tell me what has been monopolised by 2 companies. People repeat Rahul Gandhi without checking the facts.
@rajx7120 your mobile phone carrier companies before used to be a lot now just 3... Oil producers just reliance.. major ports .. online ecommerce have taken away kirana stores profit
Increase corporate tax to solve the problem
I think you should concentrate more on the freebies and corruption rather than that as most of the issues are based on these 2 aspects
@@siddhantshenoy9363This Govt can't do anything about corruption.
95percentEDcasesareonopposition
@@xxyz2023 and as per you that’s a valid justification? When the very reason that we are stuck in this mess is that those in power only increase corruption and even “mint” have covered the amount of increase in the past few years in their article
@@NANDHAKUMAR-fc3hp Corporate Taxation should be linked to employment generation. Get a suitable formulae after consultation so that corporates invest in projects rather than focusing on treasury income on speculative gains and real estate.
India is still very poor country.. what would happen if you remove freebies from millions of poor people
Most literate people know that the middle and poor class are taxed before expenses, whereas the rich are only taxed after. It would be naive to think that any government wants the common man to prosper as opposed to the rich that have a major hand in funding the rise of politicians. We keep talking about rising expenses but never have we seen a government address the issue. We are the new form of slaves.
Yep. You always are.
Freebies and government employee salries increased a lot from 2008. Both by state and central governments. They will remove capital gains tax and add to regular income in 2 to 3 years.That is the only way to keep with expenditure.
So the government's revenue collection is still under stress. Despite the dividends from the RBI & much attempted disinvestment.
Corporate loan is 5 to 7 percent
Farmers loan is 11 percent
@@xxyz2023Suit Boot ki sarkaar!
@@xxyz2023Corporate tax collections have actually increased after the rate cut, due to better compliance. Sometimes check the data also.
Lol corporate tax is around 25%, don't brag without knowledge @@xxyz2023
@@xxyz2023Corporate tax collections have risen, after the tax cuts, due to higher compliance. Whereas, petrol taxes are exactly same every year.
Problem is not only the high income tax but services provided by government. Pathetic service in terms of healthcare, water and roads
WHAT SERVICES?? WHO PROVIDES THEM??Just stop Paying Humongous subsidies to Farmers & Agri sectors, And TAX them, See the type of Transformations it brings to Indian Economy, The govt. then would cut taxes, Increase Spending of Infra, Provide Financial help to MSMEs and Entrepreneurs etc And for all those crying about Bad services in India on Nirmala Sitaraman, Those services are provided by LOCAL and STATE GOVTS' AT BEST, Not Center, Center only provides Long Expressways, Railway Upgradation, National Security, Technological Transformation, Income Tax and GST Changes, Support Entrepreneurs and Bring Large-Scale Reforms, WHICH THIS GOVT. HAS DONE, You cry on your Local govt's becoz you pay property taxes, road taxes, pollution taxes, vehicle tax and others taxes to States and ONLY 7% of Indians pay any IT, while TOP 0.45% PAY 80% OF All Income Taxes and Corporate Taxes, Basically This country is being run by TOP-0.4% to large extent and Top-7% TO the remaining extent, FARMERS PAY ZERO Taxes
The next target will be retail investors 😂. Get ready to pay tax on Capital gains as per your normal income slab
I want this only. This might not be as bad as it sounds for retail investors. Only reason some folks are still working despite saving for retirement is because they have to pay capital gains even if my make 0 income. Once they roll this out , they will quit job & live frugally within 6-10 Lakhs . This is a good share of 50-60 year olds. Each year just sell stock portfolio little by little at 0% tax effectively. Or like sell the stock portfolio, invest in a farmhouse in T3 cities with clean air & water and live happily ever after for < 6 LPA. They will always allow reinvestment back to real estate. Never sell that house & just pass it down to next generation.
Then theres a trend where one partner works and assets are purchased on other partners name entirely. That silent partner just cashes out capital gains little by little every year. The silent partner takes care of the home & looks after the kids also saving childcare & food costs.
So Lets look at the bright side of stuff !!
That's why I am cutting down my monthly expenses by 5% every month untill I can't reduce it any more. What can I do if car sales are not happening and FMCG are complaining about low consumer demand. With this kind of job insecurity and extractive nature of income tax policies, this is the only option I am left with. Don't blame me, blame government policies and Nirmala Tai.
This should be the collective measure we all saried individuals should take up, completely stop consuming anything which is above the 5% GST limit, hoard away the money into foreign securities using the LRS, stop SIPs completely in Indian markets, avoid spending any money on tourism rather go to south east asis, last but not least wake up the opposition that they need not rely only on muslim votes
It is high time that the government raises corporate tax rates. Income tax slab should start from Rs. 10 lakh
They should increase corporate tax and reduce Income Tax
Our corporate companies leave India lol. The government can't do shit against this. We are fucking doomed.
@@karthikeyan53Most Indian corporate companies cannot survive outside due to high competition. Indian corporates are pampered and protected group by govt from competition with China and other countries.
Modi cut corporate tax Therefore they clap and praise Modi But no private investment due to lack of confidence in the Finance Minister
State govts make electricity expensive to industry to give subsidy to households.
That's why they are not investing.
Paying tax is fine, but in return i am getting, no water, polluted air and results in health issues. Privatization of public service should be in place.
Jab opposition bolega ki desh bech Diya tab kiya bologe?
If farmers are exempt from income tax then the people working to provide fertilizers, electricity, water, agri machinery, healthcare, etc to these farmers should also be exempted from IT
Then government staff working in Ministry of Agriculture, rural development, water resources management should also be exempted from paying income tax.
@SUstaxdnerange yes. If the farmer is using phone, internet, tv, bank account, etc then all people working in telecom, infocom, software, electronics and banking should also be exempted.
Yes, All people who are reading these comments should also be exempted from tax
Farmers are exempted for a reason..but why no one talking about taxing high on corporates..Their profit is ticketing but their tax margin is less compared to their profit.. Why so??Farmers on the other side gets their profit cut every year, thanks to corporates and government..
Of those who pay taxes, how many earn let us say Rs.12 lakhs or less? If these are not taxed, how much would the Gov loose in tax collection? Probably not much. These are the people who suffer the most. By not taking this segment of the middle class, it will give boost to the economy as they will spend more creating a cycle of more demand for good and services.
Total direct taxpayers are 3%. Of that, 50% is paid by 0.6% who earn > 10 lakhs, and rest by the remaining 2.4% who earn less than 10 lakhs.
11.6 lakh crore in personal taxes and 10.7 lakh crore in corporate tax.
And both the collections have actually doubled in the last 5 years.
Things are saturated, for salaried class.
We need to tax the rich farmers. Force crop diversification and farm reforms, to reduce pulse/oilseed imports and crop diversification.
15 lakh slab is too steep. It's mostly IT professionals who are paying shit tonn of taxes. If IT falls, Indias growth halts. These IT people are very polite and introverts they won't protest in streets so government just keeps looting them. What government doesn't understand is these people have other options, they'll leave India when they can
Salary employees must get help by reducing tax. GST is giving enough profits and petrol prices have also given good savings.
Way too many people have crores in agricultural income without growing even a single plant or animals. Tax them first
Give one example..
Govt should link income tax slab to indexation... Refines GST like the proposed for premium items, and most importantly remove inefficiency from system.
If nation had got an well educated PM and a sensible FM.... Now India would have been self reliant and would have moved way forward than other nations...
Yeah, that was the state of india in 2024 right?
dude, this is not a movie that life changes in short period.
development takes 30-40 years atleast. just check if we are on the right trajectory
Aah! Here comes the greatest economist in the world. Must be a fan of Raga-Economics, 'khatkhat' to make everyone out of poverty! Like the journalist,. presenting a partial view of the problem.
When there is no income tax if your income is 7-8 lacs, this should change, you cannot be increasing tax exemption and burden salaried people earning more than 8 lacs.
90% people in india fall under 7lakh income levels....lmao
There should be free healthcare in private hospitals for all tax payers and their families. ❤
Even the sovereign gold bond too a great burden on government - they issued the bonds without hedging against the commodity @ gold . Now it’s turn out to be heavy loss making binds for government and good investment bet for investors
We citizens should minimise all non essential spending for 1 year so that govt revenue falls drastically. This is the only way .
Individual also shall get cost to earn deduction.
Health depreciation and education loan, training costs to stay in job etc
Cut down expenses, retain buying power by buying gold in grams with salary, an extreme step is to buy second hand to avoid GST. No other way to keep government hands off of your money?
Can you eat gold?
Such a naive comment, You cannot eat gold. You can easily covert it to money in any country when you need it as it retains its value very well.
And people will leave. with it big money.
I think you should make another video on how can't afford to do anything at all.
This is actually what the opposition should be firing the govt with. But they're busy propagating a delusional western ajenda😂
You are wrong. GST and Corporate Tax cut did worked. Corporate tax should be cut further to create jobs and Personal income tax also should be cut.
Always looking forward the knowledge you share. Keep up the good work
Thank you for your kind words. They are very encouraging! - Sharad
Why cant govt increase corporate tax
Its a nightmare or overthinking of Government.
92% Public never saves money, they spends on lifestyle.
So, govt. gets GST in huge revenue.
But should increase corporate tax to pre 2019 level immediately, no points of giving benefits to these shop owners.
Your tag line correctly say nothing is going to be changed or happened & this will continue as it is.
Poor economics understanding from "the print", it sounded like a accountant briefing. If income tax is raising will it not reduce public spending ? then how will corporate revenue will grow ? are we export driven economy. Bookish understanding !!
GST is a joke!
Interesting but doesn’t mention absolute increase in personal income tax collection. What is mentioned is percent contribution to center’s overall revenue collection.
Out of a population of 142 crores only 5 to 6 crores are taxpayers. Huge amount of tax that is due to government is not collected for political reasons and strait forward corruption. The defaulters are in plain sight of everyone except the tax collectors. Loss of revenue is thus humongous.
Competition in granting freebies for buying votes is destroying not only the economy and discipline but the future of this nation that has every potential to be great.
Amazing analysis ..so simple and so well explained
Why no one including media is ever talking about POPULATION CONTROL?? Root cause of all problems!!!
Great analysis
Bjp is the new congress
Can we expect any positive from this budget ?
This govt is good at raising the expectations by hype and then giving peanuts to citizens.
1. IPC got rebranded in BNS without changing anything promisingly.
2. VAT was replaced with GST without making it any simpler
3. Note bandi was complete chaos altogether.
It's simple. For now cut income tax substantially. Especially 15 lakh slab and add to deficit. Slowly cut government spending, government shouldn't grow that big
Very informative 👏
Debt not reduced, subsides lifted, Crude price came down, Excise duty on oil products increased ,no price cut down on Petrol , Diesel, LPG. Oil bonds not repaid, Cheap Crude from Russia, Debt from IMO increased, 3.5 Lakh Cr taken out from RBI reserves, collection from GST with 5 slabs increasing year by year. Tax on LTCG and STCG increased....Still struggling to maintain economy and Rupee value . This Govt Run by Propaganda and Media.. no real economists in cabinet. One man show. Where is all this money being pumped out? No one dare to ask. Our bad fate. 😢 we dont know when we get rid of 😢😢
Plain and simple analysis
I'm okay to pay income tax if you exclude me from gst, that's double taxation. So if the govt gives me a way as a salaried person to claim back gst, then fine I'll pay.
Multiple Subsidies, loan waivers to businesses, farmers, etc, tax concessions to SEZ and other businesses, not collecting tax equally from everyone, no proper consumer or labour law is followed and we are taken for granted. There are many more to list down which are not efficiently regulated. So after all it’s clear that tax payers will continue to suffer. My blood boils when I see hefty tax gets deducted every month.
Sigh. Just keep on beating us salaried class ey?
Though they can simply cut taxes, as we are not fixed on gold standard, we follow MMT
Happy to see you Sharad!
If they tax the rich farmers, who have net profit over 10 lakhs we can easily get minimum of 20-30k cr in taxes.
But a lot of these rich farmers are politicians and they would never allow this as it would affect their “business”
Giving free rations is actually not helping, people are not working, this leads to non contribution to GDP. More taxes on middle and rich class which is again non sustainable.
Very well explained
The government has mismanaged the finance of the entire country. MMS and Chidambaram were far better in handling the economy.
जिस तरह कंपनीज अपने सभी खर्चे के बाद टेक्स भर्ती है उसी तरह नौकरीपेशा वाले भी अपने सभी खर्चे के बाद टेक्स भरना चाहिए।
Thank you
Reduce expenditure that are not capital intensive in nature. Stop doling out freebies and recapitalising losses of psu banks
Central government employees are overpaid and hardly efficient. That's why the income tax cannot go down.
How about increasing tax on Corporations and Wealthy individuals and reduce tax on the middle 0:01
It's SAD but thanks for eye opening session. At least will not be sad this time for no change in taxes
Several low hanging fruits - corporate tax & GST loopholes, agri. subsidies etc
People don't like to pay income tax because there are no benefits like social security, elderly healthcare, nothing. Not even fresh air. Then why waste Money on Taxes.
Yes. But indirect taxes ..yes, preposterous taxes on fuel despite a fall in crude prices and obscenely profiteering from people..yes, imrpoving tax compliance..yes, insane taxes on equity and investments even if making a loss..yes, reduction in interest rates..yes. These are few things govt can do without taking loss. But No....also insane taxes on cars and bikes, zero incentive for EV but will tax fuel and ICE vehicles insanely to encourage EV. The problem is everything is at the cost of tax paying individuals.
Just stop Paying Humongous subsidies to Farmers & Agri sectors, And TAX them, See the type of Transformations it brings to Indian Economy, The govt. then would cut taxes, Increase Spending of Infra, Provide Financial help to MSMEs and Entrepreneurs etc And for all those crying about Bad services in India on Nirmala Sitaraman, Those services are provided by LOCAL and STATE GOVTS' AT BEST, Not Center, Center only provides Long Expressways, Railway Upgradation, National Security, Technological Transformation, Income Tax and GST Changes, Support Entrepreneurs and Bring Large-Scale Reforms, WHICH THIS GOVT. HAS DONE, You cry on your Local govt's becoz you pay property taxes, road taxes, pollution taxes, vehicle tax and others taxes to States and ONLY 7% of Indians pay any IT, while TOP 0.45% PAY 80% OF All Income Taxes and Corporate Taxes, Basically This country is being run by TOP-0.4% to large extent and Top-7% TO the remaining extent, FARMERS PAY ZERO Taxes
I think Government is also agreeing to your view that TOP 0.4% is paying 80% of tax right now. So what they are doing is taking money from the pockets of 99.6% people and give it to TOP 0.4% , so that 99.6% gets decimated and TOP 0.4% grows. In this way tax collection cost of our country gets reduced and they can collect 99% tax from few corporates
Good analysis.
Why the focus is on GST when talking about Income Tax. Compare the GST slabs for products /services availed by the 2% salaried class paying the tax, it is double taxation. These 2% is also not safe guarded by the labour laws. At least have the labor laws strengthened to protect these people.
If tax goes down, how the poor politicians will afford the luxury cars, and how their poor kids will continue their studies in foreign countries. 😂
Because it wants to pay salaries for IT dept
3LAKH exemption was there 1p yrs ago..add inflation and 3L should have been 10L .
Government is adding to inflation by taxing inflation...
They need to start considering printing notes. Deficit financing is the only way to radically push the country’s growth rate to double digits . The usual revenue sources like tax and resource auctions won’t help in pushing our growth much further than the usual 6-8%. And that growth rate is not enough to take our country to the status of developed country. Our demographic dividend won’t last beyond another 2 decades after which v will start facing the problem of growing old before growing rich . V need to start printing notes to fund major national projects while cutting personal taxes drastically to boost domestic consumption as export based growth is no longer going to be relevant for our growth with all the global wars and uncertainties . The equation is simple : reduce taxes drastically , encourage ppl to spend , print notes for major national projects . And do all this quickly cos our window is closing rapidly. Even a countries like Japan and Germany , whose per capita income is far higher than ours and r far more developed r struggling to manage the problem of falling demography and old age pensions. I don’t even want to think about our situation in 2050-2060 if v don’t reach developed country status by then .
I m unable to appreciate continuous rise in pit , despite economic distress. Tdy also there is observation that corporate have risen tremendously but not salaries. % of tax payers is more or less same.
No deduction for Retirement and health insurance in new scheme which is the default shows govts care for the people
These jokers are only filling their own pockets with tax money
When you have 1 crore in FD , you need not pay income tax with the current slabs, you will get the TDS as returns. This is the pathetic state of Indian Tax.
There will be no cut 🙄
Tax money spent on personal glorification. Public is of no concern.
If government thinks that they can keep on increasing income tax payable, increase capital gains taxes to fund freebies, revadies, 8 th Pay commission, huge cooruption in government departments & projects and win upcoming election in 2029 then income tax payers, investors are going to resist, oppose and criticise collection of high income tax & capital gains taxes.
India became so great in last 10 years. That's why record numbers of Indians are leaving india and taking citizenship of other countries.
But they can afford to cut corporate tax?
I would be happy for not reducing tax if government services are good enough for which we pay tax. Most of expenses of any family goes towards education and medical. And both services we get from government but both are worst. Even they can’t afford to reduce the tax but what step they have taken till now to stop corruption and government services. Did they improve the selection process of candidates for government job.
“GST is paid ONLY when you buy something “. Hi, are you living under the rock for so many years? GST is there on services too. You can name exempted goods and services which are there, with fingers in your hand and legs. Monthly salaried persons are paying advance income tax monthly but paying GST daily.
Because So called ADANI is in trouble so he needs more money thats Y.. 😢
War rukwa di paw paw 🐾
Income tax should be linked to inflation. Governments earn less if their performance is bad 😞
I waiting for the day when govenrment will implement a tax on breathing air as well
This government doesn’t listen to financial experts. RBI governors with a finance background are expelled and some with a history and computer background are appointed as RBI governors. FM with a commerce background. Aa gaye cache din!
STT should decrease.
8th pay commission?
I paybRs 1.5 lakh iT. Roads in cities are pathetic 🤦
Right to recall should be exercised .
They will think twice before taking such decisions.Poor ya middle class has suffered enough ,cant take more of these rich guys smirk at us.
Yes, they can, taxation as a way to generate revenue is just backwards. All the major countries (except few oil producing ones) are always going to be in fiscal deficit.
#Modern Monetary Theory.
Avoid provoking Amma for at least the next three days. If she gets angry, dear friends, you're in trouble... Amma has the power to play with various tax options beyond your imagination. So, be careful!