Fact Finder, The 🇮🇳 Profile picture
Feb 23, 2023 6 tweets 4 min read Read on X
#UncommonSense ..... India has already become an #OVER #TAXED #ECONOMY on the #Consumer considering how such few people pay Income tax, poor people pay GST while Corporates pay very litte.

Combined Center & State Tax to GDP over 18%!! Compare that to China (Next tweet) Image
In china the Tax to GDP is 20%... but important things to understand is (Next tweet) Image
KEY difference b/n India and China is that, in China, 1/4th of the 20% tax goes towards Social Security Contributions (EPF, PF, Insurance, ELSS etc) which in India is termed as Savings and NOT Tax.

Effectively China Tax2GDP is 15% vs 18% in India.

Another Diff (Next Twt) Image
Another key Difference in China is that Personal Income tax (including Capital Gains) is just 1.1% of GDP while Corporate Income Tax (including CG) is 4.2% of GDP (400% of Personal Income Tax Collections).

In India Personal Income tax is => Corporate Income Tax Collections ImageImage
Which is one of the big reasons why it's becoming OBVIOUS that India is turning out to be a HIGH TAX ECONOMY for hard working INDIVIDUALS while Corporates (and smart Businessmen) benefit with lower taxes.

Like China, Tide needs to turn to Tax Corporates More than Individuals ImageImage
If you found this interesting, please comment and also #RETWEET

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with Fact Finder, The 🇮🇳

Fact Finder, The 🇮🇳 Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @TheFactFindr

Jul 4
FACT CHECKING INDIAN ARMY …. On the #AgniveerScheme #Agnipath #Agniveers

A THREAD 🧵
Quoting INDIAN ARMY @adgpi …. “Of the total amount due, family of Agniveer Ajay has already been paid Rs 98.39 lakhs”

INDIAN ARMY is making it sound that they paid 98.39 lakhs

TRUTH IS this 98.39 lakhs has been paid via 2 Insurance Policies (Self Sponsored & State Govt)
Let’s Check the Facts …. GOVT till date has ONLY paid Rs39,000 … Rest is all INSURANCE Image
Read 6 tweets
Apr 2
#BREAKING !! #Internal Opinion Polls of #BJPee

#ModiKiGuarantee is that @BJP4India is loosing #Election2024

Multiple intelligence agencies did surveys on behalf of the BJP govt.

The results are:
1. BJP is estimated to win 190-220 seats ✅

12 other key take always below Image
2. Modi's image is not the marketing USP anymore. ✅
3. Ram Mandir is not a selling point anymore. ✅
Read 14 tweets
Mar 25
People are asking WHY DID #INR to fall so sharply on FRIDAY to 83.64/USD?

A quick 🧵 explaining why …#RBI Image
Who BENEFITS most when INR Depreciates?

✅It’s Financial Year end and @RBI has PROFIT targets & DIVIDEND targets of 120,000 Crores to pay Govt of India

✅ when INR Depreciates (#USDINR Rises), @RBI makes profits since it’s ASSETS are USD BONDS/GOLD & it’s LIABILITIES is INR
✅ When #INR depreciates (#USDINR rises), EXPORTS become competitive and IMPORTS become cheaper

✅ When #INR Depreciates, The BIGGEST component of GST (IGST of GST) grows faster since IGST is levied on IMPORTS, Basic & Intermediate Raw Materials, Inventory
Read 12 tweets
Oct 1, 2023
#NRI #Remittances will not only #COLLAPSE but they could reverse

A quick thread with implications for the #INR Image
#NRI #Remittances will not only collapse but they could reverse as outflows unless the DEPOSIT Rates offered by Indian Banks to NRIs are at-least 6-7% $ Rates
Today the US Rates are
1) 4.7% on the US 10yr
2) Investment Grade US bonds offer $6.5%
3) MBS Securities offer $7% at-least
4) US High Yield Bonds are offering $8-9% pa

Compared to that FCNR deposits are at just 5.5-5.8%
Read 7 tweets
May 29, 2023
#Genius #MasterStroke 81,000 Cr LOSS/yr

CANNOT MAKE THIS SHIT UP!

Govt Introduces a #POLICY estm to SAVE Rs 36,000 Cr/Yr in #Forex

BUT To SAVE Rs 36000 Crore, the Govt & Indian Public are SPENDING 300% or 117000 Crores more 😳

= 81,000 Cr LOSS/yr

#Thread on A #MasterStroke
#Modinomics decided in 2020/21 to Introduce the 20% #Ethanol Blending (Petrol) Policy.

Intention of the Policy designed by the @NITIAyog was to save India Rs36,000 in FOREX & help the Environment

Link to the document niti.gov.in/sites/default/… Image
BUT AT WHAT COST ?

FIRST: Every litre of Ethanol, Govt India will lose Rs15-20 in Tax Collections since:
👉Cost of Procuring PETROL is Rs45/lt
👉Cost of Procurement of ETHANOL is Rs65/Lt

👉Difference is Rs20/lt is LOSS IN TAX REVENUE

1020cr Ethanol = 20400cr in Tax Losses/Yr ImageImage
Read 21 tweets
May 28, 2023
#SHOCKING #CRICKET

@BCCI is the #WORLDS #RICHEST CRICKET board (Valuation: Rs16500cr, Income: Rs3900cr)

Has NOT PUBLISHED its #ANNUAL #REPORT post FY17.

BUT that is NOT the Shocking Part, Read the #Thread

#CRICKET is a #RELIGION in India & #TRANSPARENCY should be Foremost Image
As per the FY17 Annual Report, @BCCI paid an INTEREST Cost of Rs115 Cr (400% YoY) while it’s INTEREST Income of Rs171 Cr (Fell 2% YoY).

BUT WHY were they paying 171Cr of Interest Costs when they had a CASH BALANCE of 3770 Cr (3560 Cr in FY16) ? ImageImage
Read 4 tweets

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us!

:(