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LATEST NEWS UPDATES | Under Modi, Tax Burden has Shifted from Corporates to People -Subodh Varma

Under Modi, Tax Burden has Shifted from Corporates to People -Subodh Varma

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published Published on Oct 24, 2021   modified Modified on Oct 25, 2021

-Newsclick.in

And, dipping customs collections show easing of imports, which is destroying Indian producers.

It was once famously said that the executive (government) is nothing but a committee to manage the affairs of the ruling class in any society. The Narendra Modi-led Bharatiya Janata Party government is a fine example of this truth. The open and brazen way in which it has worked to the advantage of India’s powerful corporate sector has few parallels in the world.

Take the example of taxation, which is the sovereign right only of governments. In the name of spurring ‘growth’ and ‘employment’ the Modi government has decisively reduced taxes levied on big business while increasing the burden on common people through direct and indirect taxation. It has also reduced customs duties (tax on imports) to encourage entry of foreign products into the country, thus damaging domestic industry, especially the medium and small-scale sectors.

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Newsclick.in, 24 October, 2021, https://www.newsclick.in/under-modi-tax-burden-shifted-corporates-people?fbclid=IwAR2EpLgktCFu_PpTGwBX2bGqkQYXheiAD2JI419R_zu3VuEx2LqDW8ErdV8


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