Thursday, January 19, 2012

Subsidies for the rich or subsidies for the poor?

Taxes account for over 84% of the combined revenue of the Union and State governments. How does India compare with other countries as far as tax revenues are concerned? What is the tax base of direct taxes? What percentage of their profits do companies actually pay in taxes? These questions are examined in the context of the anticipated large fiscal deficit by the Union government in 2011-12 and the plans to cut down on food, fuel and fertilizer subsidies in this InfoChange India piece.

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