Govt should ensure tax structure favourable to tax-paying population: SBI Research
India Today
A report by SBI Research says that 11.4 crore tax-paying households which constitute only 8.5% of India’s total population contribute to Rs 75 lakh crore or 65% of the private final consumption expenditure and cross subsidises 91.5% of the population.
In a report on Indian economy moving towards greater degree of formalisation, the SBI’s economic research division has batted for the need for support through a better designed tax structure, particularly indirect taxes on items like fuel for tax paying households which are contributing majorly to the private final expenditure and cross subsidising the vast majority.
The latest ECOWRAP by the research unit of India’s largest bank says that 11.4 crore tax-paying households which constitute only 8.5% of India’s total population contribute to Rs 75 lakh crore or 65% of the private final consumption expenditure and cross subsidises 91.5% of the population.
