Under Modi, India's tax burden shifted, easing on the middle class and increasing on the super-rich.

During the past decade under Prime Minister Narendra Modi, the tax burden in India has shifted, reducing for the middle class and increasing for the super-rich. Those earning over Rs 50 lakh annually now account for 76% of income tax collected, up from 28% in 2014. The number of high-income earners filing tax returns has risen five-fold, while those earning less than Rs 20 lakh have seen a reduced tax liability due to increased exemptions and deductions. Overall, income tax returns filed have increased by 120% since 2014.

November 13, 2024
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