Kapil Rathi

Facts:

• Income tax payers are only 7-8% of the India total population (1.4 billion).
• Income tax contributes to 22% of total revenue collection.
• Govt now gives rebates to people earning till 12 lakhs of Annual income. People earning less than 12 lakhs are more than 90% of income tax payers.
• Everyone is paying indirect taxes or GST on goods/services purchase. They will be also paying taxes on buying fuel.
• India is left with less than 0.5% of total population paying income tax.

  

  

Expectations of Indian people:

1. World class infrastructure like Good roads, Railways, Airports, highways, bridges etc
2. World class Health care facilities like Hospitals, beds, machines, doctors etc
3. Farmers need support in fertilizers, seeds, loans, storage etc
4. World class tourism and cleanlines
5. World class Defence and space facilities like weapons, Submarines, drones, aircraft, radar, missiles, satellites etc
6. World class education like universities, R&D facilities, schools etc
7. World class technology like quantum and super computers, AI, robotics, 3D  printing, semiconductor, EV, Datacenter etc
8. Zero corruption.
9. People want to pay less taxes.
10. People want  free Health care facilities, free water, free electricity, free transportation etc

India is borrowing big money every year to boost economy and paying huge interest annually.

Open question:

1. If we continue like this how many years will it take to fulfill people’s expectations.
2. Will the country become a world super power if we continue giving tax rebate and freebies?
3. What is essential for citizens and what all are the luxury given by the govt?
4. What steps india is taking to become debt free country or reducing debt/GDP ratio?
5. How can the government increase tax payers?
6. What can we do with people who don’t want to pay income tax, gst, destroy public properties and expect high from the government?
7. Are freebies and tax rebate creating a negative impact on people who are paying tax?