Following the pandemic, the income of the bottom 50 per cent of the population is estimated at 13 percent of national income and 3 percent of total wealth Apoorva Mahendru, Kanishk Gomes, Mayurakshi Dutta, Noopur, Pravas Ranjan Mishra Oxfam International's annual inequality report makes for stark reading. The India supplement, part of the main report, states that the top 1 percent of Indians own nearly 40.6 percent of the total wealth in...

-The Telegraph Corporate tax contributes 8 percentage points less to the gross tax revenue now than it did in 2014 when the Modi government took over, says P Chidambaram New Delhi: The Opposition on Monday sought answers to fundamental questions on the economy that finance minister Nirmala Sitharaman has strenuously asserted is the fastest growing in the world. Corporate tax, paid by business houses, contributes 8 percentage points less to the gross tax...

-Macroscan.org At the end of the five-year period in which states were being compensated for shortfalls in GST Revenues relative to targets, they are on the verge of a fiscal crisis. That could spell the end of the GST regime. Please click here to read more.  ...

-The Hindu It would be much easier for the government to provide relief to people if the tax base was wider, says Revenue Secretary Tarun Bajaj, noting that four crore people don’t file returns though the tax department gets some TDS collections on their account. With major customs duty rationalisation done and corporate tax settled, the government hopes to finish some pending reforms in personal income tax and GST, creating a...

-Business Standard The share of GST collections in GDP has stagnated, even as IGST Revenues from imports have gone up sharply The Modi government is elated over the steady improvement in the collection of goods and services tax (GST) in recent months. Along with the sharp growth in collections of other Union taxes, GST collections have also crossed the Rs 1-trillion mark for each of the last six months beginning July 2021. Please...