Business & Investment

Economic Survey 2021: Economic Survey Drops Tips on Whether Budget Will Bring Covid’s Success, Taxation on Super HNI

Mumbai: For those who are worried about grapevine Union budget From 2021 to 2010, some form of redistribution taxation may be introduced, including the Covid-19 tax system for businesses and individuals with ultra-net assets, to support government finances and mitigate concerns about growing inequality. there is. Tips.

The government and many formal sectors claim that the domestic economy is seeing a V-shaped recovery after the country’s blockade to contain the Covid-19 case from April to May. True shape The recovery was quite “K-shaped”.



Some well-known economists who attended last week’s ET Markets Global Summit 2021 were rather “K-shaped” as the form of recovery was struck by the economic turmoil caused by the informal sector and SMEs. I admitted. Pandemic.

Economists are calling on governments to step up social spending within budget through local and urban employment guarantee schemes to help the bottom of society deal with the deadly pandemic sequelae.

In that context, there was concern among investors that the government could sue a temporary wealth tax or “ultra-wealth tax” to support its income and redistribute it to the poorer.

That said, this is the Chief Economic Advisor Krishnamurtisa Sabramanian He had to say about inequality and its impact on poverty alleviation: Poverty alleviation From inequality. Therefore, given India’s stages of development, India needs to continue to focus on economic growth in order to get out of poverty by expanding its overall pie. ”

Subramanian commented that the best strategy to save the most pandemic-affected people from danger is to grow the economic pie and generate sustained high GDP growth, rather than a large redistribution of income. It suggests that.

The· CEA However, it does not mean that redistribution policies are not important, and he cautiously argued that “but redistribution is feasible in developing countries only when the size of the economic pie grows.”

The Chief Economic Advisor’s claim was consistent with his claim in a previous economic survey that “creating ethical wealth,” which involves combining the invisible and trusting hands of the market, is India’s advance. ..

From a CEA perspective, India currently needs a business cycle-promoting fiscal policy that will revitalize the economy and enable growth to respond to poverty alleviation.Whether it is the Minister of Finance Namara Sisalaman Paying attention to CEA’s comments will be known when she presents a coalition budget on Monday, but for investors, CEA tips may provide short-term comfort.



Economic Survey 2021: Economic Survey Drops Tips on Whether Budget Will Bring Covid’s Success, Taxation on Super HNI

https://economictimes.indiatimes.com/markets/stocks/news/economic-survey-drops-a-hint-if-budget-will-bring-covid-cess-tax-on-ultra-hnis/articleshow/80584893.cms Economic Survey 2021: Economic Survey Drops Tips on Whether Budget Will Bring Covid’s Success, Taxation on Super HNI

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