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Dear PM @narendramodi ji this will be a gargantuan mistake if you further increase taxes on those earning 10 lakh and more
https://theprint.in/economy/covid-19-cess-40-tax-for-rich-irs-officers-offer-economy-revival-tips-to-modi-govt/409108/
Your formalisation agenda will go for a toss, and the economy will be hurt. Do not go down that road please. It would be very tragic.
https://theprint.in/economy/covid-19-cess-40-tax-for-rich-irs-officers-offer-economy-revival-tips-to-modi-govt/409108/
Your formalisation agenda will go for a toss, and the economy will be hurt. Do not go down that road please. It would be very tragic.
Dear @PMOIndia the moderate Laffer curve impact applies to Indian income taxes. Far from raising taxes you must cut them back to pre-2019 levels. That is only way to increase revenue + compliance over medium term. In the short term, please do not listen to Urjit Patels. Monetise.
This is a make or break decision. A crisis reveals true instincts. We cannot build a modern Indian state by squeezing a small base. We have to lower rates and widen the base.
How to communicate that is your responsibility as the country’s leader. Class warfare will be resisted.
How to communicate that is your responsibility as the country’s leader. Class warfare will be resisted.
The tragicomic thing is our macro has never been fundamentally better (in part because of NM’s first term of prudent policies)
But who will get the point across that a country with little foreign debt, excess capacity, low core inflation is well placed for QE + infra + tax cuts?
But who will get the point across that a country with little foreign debt, excess capacity, low core inflation is well placed for QE + infra + tax cuts?
