Aravind Bachu
@aravindbachu
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Designing Products & Experiences to make a better world.
Bengaluru
Joined August 2010
The new tax rates will practically result in nothing. There will be no growth in consumption or any rise in any metric, except for the amount of Nil filers. It'll take one full year for our drunk Babus and deadbeat FM & PM to realise that. #AbolishIncomeTax
This rebate is a backlog which should have been done 10 years ago. Today even the whole 1.1L rebate is not sufficient to pay 1 kid school fees. Flat registration cost itself is 10L. This would not increase urban consumption or pump any growth. This is way too little, too late.
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Viksit Bharat is a pipedream. We'll likely become Dipshit Bharat by 2035 before becoming anything else. We'll only be a Nation growing cash crops, Trade in Chinese goods, Use American software, Eat paan, Drink liquor and call ourselves "Developed"
Also China is struggling to go beyond $13,000 percapita. Middle income trap is real. Many good well governed countries find it extremely impossible to break this middle income trap. As Debashis Basu repeatedly points out most of today's rich countries are rich from 18th century. Only half a dozen countries were able to become rich in the last 100 hundred plus years. Be it a country or a common man, it is extremely difficult to get rich. Sorry to say that India can never become a developed country, say on par with today's America or Singapore. It may not be possible even for China. They have started becoming old and population would shrink. The best hope for India is to become a middle income country by 2047, which is say today's Malaysia.
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Achieving Upward Economic Mobility through education, hard work & adhering to the Law of the land is practically impossible in India now. A Gutka seller or Street Rowdy can get better life, than a Ph.D or IT Employee in India. Thank you @nsitharaman for this #TaxTerrorism
A stock corrected by 30% needs 43% jump to make a break even, Stock corrected by 40% needs 70% & Stock corrected by 50% would need 100% gains to make a break even. A person paid 35% income tax + 15% GST would need to invest the rest whole for 9 years at 8% to make a break even.
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@nekzaad It's really getting hard to even make plans to leave since no good country offers work visas easily to us, despite us promising to work harder and pay tax diligently. OTOH, we don't have so much money to purchase citizenship either.
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@fairwhisker There is a certain limit to it too. The freeloaders are earning in crores, spending in crores too - The govt. won't even feel a pinch if we curb our spending. Income Tax is the biggest yearly expense for us, even more than the total EMI's we pay - what else is left to spend?
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RT @VishnuFNO: Service tax raised from 12% to 18%. Many services which were not under service tax net were brought into service tax net. th…
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This is correct. When FII's and domestic investors are willing to bet on Indian Enterprises, they need to be rewarded for their risk, not penalised at 20% STCG + 12.5% LTCG + STT This is like the situation where beggars are arriving before a temple is even built.
Enjoy 12.5% LTCG @nsitharamanoffc Penny wise pound foolish Request that government to relook into LTCG of 12.5% on FII. Else watch more selling, negative Balance of payment in second consecutive year, Re touching new lows every day. Our mutual funds are not taxed on capital gains they make then why are you taxing FII. This is hurting retail investor. Urgently look into the same @narendramodi
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Then pay them more, you miser. Project construction in India costs almost equivalent or even more than what it costs in the first world countries, then what's the problem in paying first world wages? First world profits with Third world wages?
🚨 "Construction labourers in India are not willing to work due to availability of welfare schemes and comfort," says L&T chairman SN Subramanian.
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And Babus are given the right to decide fiscal policy, run steel mills, airlines, agriculture - all because they remember that Babur ascended the throne of Delhi in 1526.
Indian Deep State is the Babu Network, the ones who actually call the shots, regardless of who is in power. Netas get the flak because they happen to be more visible, and usually are not as articulate. That honest Babu who stands up to the Neta is more an exception, not rule.
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Why the FM when it's public Knowledge. Taxes during: British Raj: 1860 - 2% 1903 - 2% 1913-15 - 7% 1916 - 15% 1917 - 67% 1918-21 - 73% 1925-31 - 25% Indira Raj - 97% Modi Raj - 42% + Avg. 18% GST Remember, British fought WW2. Indira fought Pakistan. Modi is fighting who?
Interesting question raised in Rajya Sabha. To be answered today ( 11-Feb-2025 ) #WhyIncomeTax
#AbolishIncomeTax
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The actual numbers will be mind boggling. India has ~6.5 Lakh villages and almost every village has a few millionaires, who never paid anyincome tax in their life. Even if 20% of those are made to pay a meagre rate of 10%, India would hit $10 trillion GDP in no time.
3 brothers gifted around ₹3 crore in a wedding. Case is from a small village in Nagaur district. Acc. to ITRs, with income >25L, you're top 0.18% earner. But nobody knows how many crorepatis are outside ITR coverage. #WhyIncomeTax
#AbolishIncomeTax
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Any Sane person will study first and then become a Ph.D Scholar. Our Bhimtas become Ph.D's first, then later believe firmly that they already know everything. They'll do everything except study.
Imagine voting for a govt, trusting it to improve your life. Only to see them serve a few communities for vote-bank politics, betraying the rest.
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In India, we've judges like Reeta Kaushik, who openly demanded bribes, led to the suicide of #AtulSubhash, yet roams more freely than anyone. No case, No investigation, not even a simple suspension. I don't know if anyone is more secure in this world, than Indian Jurists.
I’d like to propose that the worst 1% of appointed judges, as determined by elected bodies, be fired every year. This will weed out the most corrupt and least competent.
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How? They just voted for ₹2500 per month + ₹21,000 per pregnancy. 2030 Delhi Elections will be won with ₹3000 per month + ₹50,000 per pregnancy + Free korean OTT subscriptions.
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Kejruddin lost his own seat. Development was supposed to be his only agenda, not Muslim or Women appeasement. Maybe the body is dead, but the ghost of AAP lives on, through freebies, all across the nation. #DelhiElectionResults
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He's so dumb that he doesn't even realise that he has been used like a puppet by the deep state already. Probably he won't realise it ever. He lost all contact with reality a decade ago.
He is Deep State Puppet. He implemented everything Deepstate wants. Participated in Global Covid genocide Pushed unrested Covid Vaccines. Millions dead after Covid Vaccination. Postponed Census to hide those deaths.
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Work? You haven't been able to increase the taxpayers base by even 1% in an entire decade and we now have double whammy - historically all-time low taxpayer base & all-time high revenue collections! Have some shame & resign with dignity. #AbolishIncomeTax
"We have worked on reducing the number of compliances, decriminalisation, the Jan Vishwas bill, which had come earlier, and now with the second version aimed at removing the compliance burden and making sure laws are in tune with the modern-day requirement of being adaptable and easy for people to comply. We have used technology to stress on reducing compliance. From our side, we are very clear. To use Hon'ble Prime Minister Shri @narendramodi's words: minimum government, maximum governance." - Smt @nsitharaman in the post-budget interview to @EconomicTimes. Read full interview here: #ViksitBharatBudget2025
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@SelvakP @IndiaNewGen Rebate for <12LPA was a good move. She could've done the bare minimum by extending that rebate to all slabs and provided relief from inflation but she didn't & that's where her tyranny lies. Do you think earning 60LPA spares you from inflation? You can't even buy a decent flat!
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@SelvakP @IndiaNewGen Have you ever worked hard? Hardworking people spend all their lives sacrificing everything, without an iota of help from the govt during their struggling days and when they finally succeed, The Govt. comes to extort 42% of their Income as Tax. How fair is that?
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