Lets us put taxpayer's unreasonable outrage about farm loan waivers in perspective.
I am also a taxpayer, paying few lakhs as income tax every year. But I think our "TAXPAYER" class thinks that they are running the entire country.
I am also a taxpayer, paying few lakhs as income tax every year. But I think our "TAXPAYER" class thinks that they are running the entire country.
Total tax collections 19,46,119.15 Cr
Non-tax revenues - 2,35,973.64 Cr
Capital receipts - 1,17,473.33 Cr
Total 22,99,566.12 Cr
The split of direct taxes.
Income tax - 4,41,255.27 cr
Corporate tax - 5,63,744.73 cr
The share of income taxes in the total revenue is 19.2%.
Non-tax revenues - 2,35,973.64 Cr
Capital receipts - 1,17,473.33 Cr
Total 22,99,566.12 Cr
The split of direct taxes.
Income tax - 4,41,255.27 cr
Corporate tax - 5,63,744.73 cr
The share of income taxes in the total revenue is 19.2%.
And remember all of the income tax that you paid goes only to central govt. States don't collect income tax, which means your direct income tax contribution to a state is ZERO. All they get is the portion of indirect taxes when you buy Goods & Services, Fuel, Land etc.
Now a farmer putting full tank diesel in his Tractor bi-weekly might be paying more taxes than the average taxpayer. An average taxpayer pays 58K per year.
1K in excise duty & VAT on Diesel per weeks make a farmer paying 52K per year.
1K in excise duty & VAT on Diesel per weeks make a farmer paying 52K per year.
So, the state governments writing off farm loans with little assistance from the centre is not the so-called TAXPAYER'S business to worry about.
It is everyone's money. If you still think otherwise, you can outrage on 19.2% of the amounts, that too at the mercy of the super rich
It is everyone's money. If you still think otherwise, you can outrage on 19.2% of the amounts, that too at the mercy of the super rich
