 have shot far higher than then direct tax (income + corporation tax).){kind=link}
Under the Modi government, indirect taxes (GST+excise+customs) have shot far higher than then direct tax (income + corporation tax).
This new move means that the indirect tax rise is only hurting the consuming common citizen more than anyone else class because consumers pay equally by the same amount they consume.
While the rich are making big money out of the GST loopholes, which is keeping them happy, and uncomplaining, perhaps an estimated 5% of India who has enough power and influence to direct the Media in the direction it wants them to sing, it is not hard to understand why this reality is veiled from the simple sheep standing in the public spectrum.
Imagine having to pay heavy taxes on everything one buys? These inflated indirect taxes are stinging the poor more than the opulent class. The wealthy affluent often boast that they are the only taxpayers in India unaware that the poor common lot are been squeezed dry and often cry while draining their pockets. The government is doing great injustice by surging the indirect taxes even higher than the direct taxes.
The devious plots weaved into the indirect taxes are making the government rich at the expense of draining dry every consumer citizen. Sales are low because consumer goods are soaring, and at the same time, production industries are ebbing. Ever since demonetization, thousands of millionaires and billionaires have fled the shores of India and gone to greener pastures abroad! Factory manufacturing is at the lowest tide ever.
Studies have discovered that 23,000 Indian millionaires have left India since 2014, and around 7,000 millionaires left in 2019 alone, costing the country billions in tax revenue. Since 2015, nearly 9 lakh Indians have given up their citizenship.
The magic of GST unfolds blessings for the Central government of India where they hold power over Indian states by penalizing them if they do not pay up in time. The Central government also has taken a huge share of sponsored projects in a bid to advertise Prime Minister Modi’s image. The opulent class does support PM Modi because he supports them. The poor keep thinking that he will lift them out of poverty, however, India has slipped back into poverty, all conveniently now blamed on COVID-19 and the Russian-Ukrainian War, but all this was transpiring long before this and in fact, the huge crash came after demonetization.
Taxes on fuel and central taxes are cess taxes that will only build up the central government building up the exchequer, but this same money is not pouring back to the public to strengthen them.
In fact, the lavish lives lived by the Central government with fancy airplanes and rose petals poured over places and lavish monuments and funding for “events” are only from public indirect taxes and cess. (A cess is a form of tax levied by the government on tax with specific purposes till the time the government gets enough money for that purpose. The cess differs from the usual taxes and duties like excise and personal income tax, a cess is imposed as an additional tax besides the existing tax).
Right now, oil, goods, vegetables in the markets, electricity, and fuel prices are surging in India and this will help the affluent class more than anyone else. Put together they have made an abundant crop of taxes from the sale of petroleum.
Under direct taxes, the income tax has remained stable, inflation is negating any increments (if any). The non-performing assets of the opulent friends of the government are being whitewashed and top corporates have got tax breaks such as Ambani and the others to enable them to pay their contributions and donations to GOI when needed.
The divide between the haves and have-nots is increasing leading to social inequality in India and while the top 5% are thriving and they sit in an arched golden circle over India amid hired squads to throttle voices of dissent and create divisions to divert the attention of the public from the economic twists and disasters of the government, which is done intentionally because the government wants to wipe out the middle man and weaken the poor keeping them dependent on the rich and one can see this in the hard capitalist structure of the BJP.
Unfortunately, while the media and some keep saying the Indian economy is booming, buying and selling have fallen and industries are closing down.
Indian Rupee hits all-time low; Foreign exchange reserve comes down to $598 billion. The Indian rupee has gone over the 77-per-dollar mark for the first time, owing to rising crude oil prices and a growing trade imbalance.
Indian Rupee hits all-time low; Foreign exchange reserve comes down to $598 billion. The Indian rupee has gone over the 77-per-dollar mark for the first time, owing to rising crude oil prices and a growing trade imbalance. #indianeconomy #economics #rupeevsdollar #NFWorld pic.twitter.com/zN9neyjtdn
— New Facts World (@newfactsworld) May 26, 2022