Still increasing taxes
The economy was mainly affected in two ways due to the pandemic. One, the way Modi imposed a sudden lockdown without thinking, due to which a large number of people lost their business and how fatal it proved to be, it can be gauged from the fact that in only one quarter, GDP has increased. 28 percent drop. A large number of people who lost their jobs then are still being killed and killed. Second, the sluggish demand got worse even before people left their jobs.
Prime Minister Modi is following the policy of earning through indirect taxes on the middle and lower classes. Import duty on consumer goods and excise duty on petroleum products are such steps which have an impact on the common people while the corporates were given tax exemption from such money. The amount to be received from such indirect taxes is no less. According to an estimate, taxes on petroleum products got about 2 trillion rupees, that is, equal to 1 percent of GDP. I estimate that since 2014, consumers have been taxed directly or indirectly at 2 per cent of GDP and passed on to the corporate sector through tax rebates or subsidies. The problem is that the amount equal to 2 percent of GDP was collected from the common people and given to the corporate sector, if the same money had been spent in the economy as private investment, then neither the condition of GDP growth rate would have been like this and Neither the government had to try to increase the growth rate by borrowing.
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