3 ms·
i dont understand how the minimum non taxable income is 12 lakhs per annum (~10000 GBP) when a generous daily wage is like 1000 rupees (~10 GBP) a day.
by uwagar 2y ago
i dont understand how the minimum non taxable income is 12 lakhs per annum (~10000 GBP) when a generous daily wage is like 1000 rupees (~10 GBP) a day.
- teitoklien 2y agoIndia’s economy is based on Domestic consumption instead of exports. If you tax its middle class (which is people above that income). Then consumption tanks entirely, They used to tax from a much lower rate at 7lakhs per annum and it was actively crushing their domestic consumption markets. They’ve been trying to revive and boost their declining consumption economy. India’s 10% population drives >50% of entire consumption, >80% of entire retail goods consumption outside of base essential commodities.
- pwillia7 2y agoTrust is low corruption high and a lot of people just don't pay taxes -- historically https://www.bbc.com/news/world-asia-india-37530290 https://www.bbc.com/news/world-asia-india-37530290