‘Finance Ministry Treats You Like…’: Mohandas Pai Has This Request For PM Modi | Budget 2024

In less than a week, Modi 3.0’s maiden budget will be presented by Finance Minister Nirmala Sitharaman, but there’s distress on the jobs front, the number of rich surrendering their Indian passports is likely to end at a figure higher than last. The middle class wants a break. In this exclusive interview, Mohandas Pai, Chairman of Aarin Capital talks about the industry, middle class, and startups’ expectations. Watch the full interview to know more.
#mohandaspai #budget2024 #modigovernment #nirmalasitharaman #financeministernirmalasitharaman #incometaxslab #budgetexpectations #angeltax
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[@JohnnyRotten-uf6xw]

Love this, we need more industrialists in positions of power than unproductive caste-based politicians who have never worked a real job. Mr Pai should run for office please.

[@tk-ld5cd]

Not him at least who advocates for 70 hr work week

[@madhun6432]

Our FM is insensitive to middle-class paint points, inflation and high direct tax is torturing us.

[@atmakurpradeep]

She is Tax minister

[@santanodcosta3360]

FM is a red chilli eating person....filled with venom. Even in parliament,she barks like a fish monger without any decorum nor courtesy.

[@Mdevendra333]

We need Mr. Pai as FM not bureaucrat kind of Mrs. Nirmala Sitharaman

[@bharamappakoulapure1141]

She is not bureaucrat she was shale's woman

[@DS-ux9ld]

Modi is the real FM

[@piyushpatel6536]

Totally agree. S

[@joy_pursuitoflife1602]

Agree

[@divakarshetty3210]

He couldn't deliver a reasonably performing software for banks or IT department and will he be able to deliver as FM for this vast country with diverse requirements?

[@nn11067]

Brilliant !!! Mohandas Sir Backs each stmt with data !!

[@askwhydude]

Yeshe thanked PM for the budget with the data !

[@DESERTYT-kf1dn]

This is the ground reality for middle class in India. This is the right time to look beyond middle class and foucs on corporate india, rich and ultra rich. Every time middle class is being taxed heavily.

[@safinnair7502]

The same here in Canada brother😢

[@juPi05tEr]

If you earn 1 Cr+ you end up paying almost 40% tax due to surcharges, so they are not sparing rich either. Ultra rich are the only people making a lot of money..

[@narendra1867]

@@safinnair7502The problem is not tax, its not getting anything back from government

[@LataMathews]

Thanks. This is the dilemma we middle class pensioners face. Even mutual funds capital gains tax needs a relook for the pensioners. Wish Mohan Das Pai would write to PM on behalf of all of us.. The middle class always suffers. Wonder now can Sitharaman do any changes, the budget must be ready and waiting for 23rd speech right???

[@sarathchand5699]

Very well said. Modi ji hasn’t been up to the mark in controlling Nirmala Sitaraman making stupid taxation policies. The middle class is paying 30% tax. What’s left to eat or save after that? We are all a family of 4 & 2 dependant parents. Modi ji please save us from taxes. I guess the country already has adequate money. More taxes goes into pockets of corrupt politicians. What’s the use of that?

[@saarassc]

Don't blame Nirmala sitaraman she's just an arrogant and short tempered front face with no or little knowledge. It's the bunch of advisors that formulate and implement. Taxes should be backed by social security so that everyone is happy paying taxes.

[@dileepkful]

Only 30%. You already pay tax. And you decide to have some savings. That again would be taxed. Tax on FD , long term retirement savings, tax , tax….When you buy a chocolate for your kid you pay GST- 18% . Because it’s a luxury. The funny part is there are no taxes for political donations or religious donations. Those who can flee this country please do it. That seems to be the only solution where you can assure that you work for yourself and get something decent in return for the taxes one pays.

[@SaiSistersFamily]

True

[@bidyasagarboruah2190]

Tax terrorism is the correct word only the sufferer will understand. I have a family of 4 to support from my salary, but the government tax policy is so stupid paying 30% tax from hard earned salary is like extrotion only by the government.

[@pkmkb007]

Yeah move to Canada and pay 45% tax right? Atleast you earning in dollars right?

[@amitkjain8]

​@@pkmkb007every one can not move outside India,they might have their other responsibilities. But many are moving out of India every year because of this tax terrorism.some will be victims of it and some will leave.

[@vichu000]

Brilliant... Truly upsetting.. To see middle class 2-3 % pay taxes... What kind of equality is that? Additional to TDS... We have to pay 18-22% GST.... I STOPPED BUYING anything but essentials. People have crore spent in wedding... This is slowly looking like a African country. One fracture for a senior at home and school fee is killing us.... If I could I would leave India. 😢

[@nishithpadman3939]

Modiji lost contact with common Indians. GST is breaking the back of Indians. FM has no sense.

[@dittokiller]

The moment GST is applied to petrol and diesel, the common man will be able to afford most things.

[@ladybookworms]

Tell that to the people who think and vote with their religion.

[@akhandbha]

​@@dittokiller But the big businessman will not allow that

[@RKV8527]

education and health is not for Nirmala ji

[@deepsikhasarkar3324]

She is actually not suppose to hold any portfolio. Why couldn't she survive as defence minister. She will drain every single drop from middle class and salaries workers.

[@surendrapatnaik4011]

Removal of indexing is ridiculous by govt.

[@jyothikumar811]

More middle class must raise voice. Nirmala is useless, rightly said, PM must walk the talk.

[@shekarnarasimhan8477]

Jyothiji its time to wake up. Every FM is taking Middle Class for ride.

[@anishmathew7904]

Mohandas Pai - pride of India. Pinpoint accuracy with facts and data to back up each statement ❤❤❤

[@SriKalHasti]

Absolutely true😢 Hard earned money is gone in air with no benefits, it’s being distributed to poor and rich people like free goodies and corporate favors. Poor employee / middle class segment like squeezed lemon till dead skin. Very pathetic.

[@vaibhavpatil1983]

Kick the person out who initially suggested Sitharaman as FM first

[@mangalapalliv]

It is Nraendra Modi.....

[@santanodcosta3360]

She has no right to be part of the NDA cabinet as she is not elected by us voters.

[@LiveInPeace1]

Thank you so much for raising this issue. Throughout our careers we the salaried class would have easily paid a couple of crores in income tax, let alone all other taxes. After paying so much taxes, god forbid something happens to the main bread earner we cannot expect anything from Government. At least we don’t have good road infrastructure, except for the main roads. Garbage being dumped on street, raising healthcare costs, rising educational costs. The constant pressure of carrying the tax burden is back breaking. At least this man has raised this issue, enough of glorifying the PM. He is the chief public servant at the end of the day, not god or even our father or grandfather.

[@shubchatt]

Nothing will change. Life will continue as usual 😌. Sad but true. I agree with Mr. Pai, that agencies have tremendous power which is often misused.

[@ashokanand5423]

Fully agree FM is shameless. She has no mind of her own and playing in the hands of Bureaucrats and Industrialist.

[@venkatalakshmanakumar.c554]

Rightly narrated Mr.Pai. Appreciate your brilliant statement on various policies and concern towards middle class who are under pressure of inflation. The cost of vegetables and edibles are shooting every day.

[@sabujoseph6072]

Sir , i was a staunch critic of you on some of your views. But now I realise that you have got the guts to name things, to call spade a spade. Salute you Mr Pai

[@princeofheaven19]

A big salute to Mr.Mohandas Pai for speaking against Nirmala Tai

[@vinothmck3953]

But still he is hoping PM will do some magic... doesn't he know FM is doing whatever she is only with the blessings of PM?

[@NageshaCN-u9z]

Well said Mr. Mohandas Pai sir.

[@coruscated]

Nirmala doesnt care

[@prabhakarguptas.9491]

Tax Administration is not fair and unreasonable and unfriendly. Look at LTCG on shares and MF 's. And Next is AIS with full of Mistakes and double entries and even updation till June middle. If there is mismatch and does not tally, you may get IT notice, scare from news report.

[@dittokiller]

If the government wants to protect the youth from F&O trading (since research shows 70-80% lose money), they should encourage long-term capital investments by either reducing taxes or raising the tax threshold to ₹10-20 lakh or increase a bit on short term tax and remove tax on longterm capital gain just like the old times .

[@mariappansengodan7596]

Rightly said. You summed it well. When will the GOI listen to this predicament of the Middle and low income groups.

[@shanmugamkannan9657]

As subramania swamy said all IT should be removed. All citizens are paying from 5 to 28 % taxes in the name of GST. No limit. So govt should stop IT.

[@sureshiyengar7556]

Sir pai , why do you waste time , BJP is going to tax only middle-class people. They will harass only form 16 middle class people. At least they should take advice of Dr. subramany swamy .

[@abhishekvyas9222]

Cartoon

[@sureshsankar4256]

Non sense.. Everybody till date done that only. Needs change. But change your taste..!

[@jagadishmrv]

Paper Tigress

[@scplan]

PM Modi should fire the FM and halve the taxes to save BJP.

[@laya0srinivas]

P.M should intervene to stop this Tax terrorism. I have struggled to get two masters without quota and struggled 18 years in services sector and IT, Opted for no Kids since we are not confidenet of this unsustainable system, Still cannot break out of Middle class. who's fault ? Modi ji must do something for people who are Honest.

[@saintchristopher8228]

😢Tax Payers money is being wasted in giving the Freebies and Subsidies in India just for Vote instead of utilising It for the development of the country 😮😢

[@sudhaagarwal9290]

Well said sir...Voice of the Bharat ...janta ki aawaaz h ye.....

[@balakrishnarao6818]

Mohandas pai sir very important person in India on country development issues, government should utilize his service he was very much visionary.

[@RajeshSharma-iy7zk]

On top of that income tax people are harassing middle class which has upset middle class further.

[@asun468]

Tax everyone in the country, if that calls for unrest be it. Change has to come, one nation one tax for all. No slabs, flat 20% for salary above 5lkhs.

[@chikka2203]

No Government for Middle Class..we pay IT of 36 percent with surcharge alongside GST for everything from mosquito coil to car😢

[@vishnuanil7691]

India is living out of middle class money... what a shame

[@subramanianpm1983]

How many times a citizen has been looted his hard earned money by government? FM was blinking when a share trader questioned the nature of squeezing his money through direct and indirect taxes. government taxes our income first.. shamelessly again and again they demand us to pay tax on everything except what we breathe , something similar to nokku kooli, extorting money for loading or unloading commodities without doing the work. Who is there to dare this highway robbery?

[@SajeevanMuringode]

Hello hi sir and madam all the best and Good luck sir jai Jai India 🕉 🙏 🇮🇳 ❤️

[@avanishkumar2682]

100% True❤

[@settykusumanchi8945]

Sir, you are absolutely correct, government has to reduce the tax. But all our request is fallen in deaf years

[@manthramurthy7549]

Middle class pay tax honestly and also vote for Modiji .....but the PM distribute to the so called farmers who don't even vote for him.....Mr PM please wake up..😂

[@sudhaagarwal9290]

Brilliant Sir...atleast somebody has come up for people like is

[@ganesanvijayaraj2804]

Opportunity to listen a great speech and ideas for the govt agencies to implement for the benefit of the country.

[@karalworld]

I support Mr. Mohandas Pai.. We need more tax breaks for middle class citizens.

[@vijaybgood]

Sir has always been a sane voice in the country.. Even since before 2014...

[@jagans360]

True Mr. Pai. Middle class salaried class people suffering with overburden on income tax year after year who contribute.

[@anuroopthehuman]

Taking the burden of corporate taxes onto common people!! Rich becoming super rich and poor become poorer!!

[@rajucv5011]

Yes , we need a person like him who knows the difficulties of poor and middle class people and knows how the corporate tycoons are looting and enjoying all kinds of rebates.

[@shafimogral4127]

Most of the businessman which include Pai felt great during the last 10 years due to the policy that favoured the rich at the expense of the poor. When addressing the need of the poor, the growth will be less visible, you will be taking longer and perhaps the numbers are unlikely to look great . Now they discover that without those poor generating more demand side supply side is a wasted exercise. Never realised the ground slipped under your feet,The industrialist whose tax were reduced to 25% never generated more jobs.

[@nishusinha19]

Thanks Mr. Pai for being the voice of people.

[@Smartlifekannada]

Give gst returns for common people also for their all purchases.

[@GNN64]

Corporates pay Less TAX than ORDINARY GOVT EMPLOYEES....

[@swayamp17]

The most dissapointed thing opposition nvr opposes things like he is opposing, they alway are increase reservation , give freebies they only try to cater votebanks.

[@Smartlifekannada]

Inflation is eating all the savings,above which so many taxes.... it's terrible

[@VeeraForBharat]

Thank you Sir. Happy to hear you speaking out on this important issue. Ronald Reagan had impacted US development a lot by significantly reducing the taxes and popularized it as Reaganomics. It resulted in significant growth in the US in the 90s. I am sure same can happen to Bharat as well by thinking out long term and trusting the entrepreneurship nature of Indians.

[@RatanGulshan2020]

Wonderful 👍

[@debadattapattanaik2427]

You are correct Sir. PM has to think about the rising cost of living and the price rise which is affecting the middle income group and the pensioners.Household saving becoming dry.Cost of hospitalisation sky rocketing. This middle class expected 'achhe din' from Modi.1 gave strong support for Modi.2 and still supportive of modi.3 but what it got in return ? A starved middle class cannot be aspirational. Modi and his team should understand this. Hindustan Times is requested to reproduce this viewpoint of Mr Pai in Hindi and other provincial languages for the benefit of all the people of this country because all cannot understand English.

[@shitiltilve3490]

No social security /no incomes/only gamble and create self income /and make govt of india rich to maintain our so called elected representatives healthy and wealthy

[@rsnk9957]

He is correct. Govt is for the people. They should listen to common man views on taxes.

[@sritulasibangalore]

Mohandas Pai sir you are super | TAX terrorisam should be stopped on middile class | middle class living in bangalore is horrible | 100 of years my parents lived here

[@gopiraj9170]

Excellent Sir ! Glad to see you have voiced out for the Middle class, over many decades Millionaires like PC, Arun were FM and they never realized the pain of Salaried class , I honestly believed when Nirmala took over she will there will be relief, but it was great disappontment, rather it was wounding when she made statements like She is not eating onions, she is also paying IT etc...I fully understand this Govt is trying to build better Infrastructure, reduce corruption etc but what is benefit if you are not serving the hungry person with bread immediately ? Will you say wait I am preparing a feast for you and future and stay hungry? Senior citizen concession also reduced...hope FM realize the reality not go in to egoistic mood this time... if not it's not FM going to loose, as she's anyways not elected by people... great loser will be BJP, Modiji and so on...with so much accumulated central funds the next govt most likely Congress led will indulge in all populist measures like waive off the farm loans, agriculture loans etc...

[@sivasankaranav6104]

Rich agriculturists are exempt from tax, making a mockery of the system !!!

[@rajeshsalian3657]

and they want legal guarantee for MSP, its right time to tax them whilst giving legal guarantee. cost and expenditure will even out hopefully.

[@santanodcosta3360]

Tax the rich farmers. Why should they be exempted?

[@ARK90017]

Atlast he has realized and raising his voice against Govt.... Now he understood education is important

[@aadityachourasia2124]

Abolish income tax !!! We dont need it subramanian swami is saying this for a long time

[@jayaprakashthampuran6521]

OK.But what are other resources for country's development works.

[@aadityachourasia2124]

@@jayaprakashthampuran6521 auction 2g 3g 4g 5g spectrum license auction coal blocks sell all psu nationalize all foreign accounts

[@Madhubindiganavile]

Very well said sir

[@sudhaagarwal9290]

We are the new bharat....we have a right to speak

[@desitroll8094]

Can't beleive our country has a finance minister that's doesn't understand basics of finance. It's shocking. There are 1000's of agressive intelligent mature leaders like Mr Pai that we need who doesn't care north south he knows India inside out

[@bansidhar9349]

some one actually spoken logically and reality

[@Spashth]

He is absolutely right, feel it everyday. I pay huge amount of tax but in return I do not get anything. If I go on the road I toll tax, you cannot go toa government hospital, you cannot put your kids into government schools, government buses are third class. Never get reservation in railways, railways are still dirty. Our cities are still dirty, and the government colonies in the city are worse so we are forced to live in gated communities built by private , the quality of life in cities are not really improving at all. Health insurance you have to buy separately so what Facility is government providing in return of the Tax? government is distributing free bees like a bl*** mindless person. Why are we all paying tax? Instead of living in india I am planning to move either to Dubai or some European country at least I will have a better quality of life.

[@chikka2203]

One Man talking for Common People

[@iPritam]

Well spoken Mohandas Sir 👍🏼

[@hansrajpatilChannel]

He is blunt and truthful

[@pranoy.chakraborty_]

I love this guys logics

[@nirajrathi9887]

Modi Govt ,Eye opener ,Hope they listen to veterans 😊

[@DebRupamBanerjee-qz8nz]

Aunty should quit and industry leaders should run finance ministry instead of bureaucrats

[@AntiSychophant-fi9yr]

Modi Shah Nadda are busy stealing our tax money to fund their elections...only Honest and Sensitive guys left are Rajanth and gadkari...

[@NarayananK-ct4gl]

Industrialists are great looters joining hand in glove with the ruling party. First time I heard today te most arrogant PM talking that al parties should work together for youth, women, poor etc. for the progress of nation. Had he adopted this since 2014 and allowed healthy debate in Parliament we would not have wasted 10 precious years. He was more interested in throwing out using dummy speaker to throw it Rahul and Moitra from parliament. Allowing Modi to continue is deadly dangerous to the country. He is for people who celebrate ₹5000 cr wedding. Sorry state of affairs.

[@ganeshganesh582]

கிழவி, should quit. Pl. Change your statement

[@askbull]

Thanks Mr Pai for speaking up.. problem of having a RS MP as FM. Ask to fight elections and then she will make her budget humane

[@gurudattag]

Job Security is low. So taxing middle class salaries along with Job Insecurity is even more hurting

[@ravindranathpuvvada1966]

Practical& realistic and also growth oriented suggestions.🎉

[@sandeepkothari8913]

We are definitely suffering tax terrorism and govt needs to take action immediately

[@livelifeon]

Pull down Tai Ma and make this man FM!!!🔥🔥🔥

[@srirampappuri5155]

10 years NDA did not do anything for taxpayers...jokers....

[@ekbotesharad]

Modi ji cut more taxes for corporates like Ambani and Adani. And middle class will move to another country bcos there are no good facilities for the taxes the middle class pays.

[@changappalarny4701]

Pai sir well said 👏👏👌

[@aparajitbhattacharya210]

The current Finance Ministry must change.. Period.

[@kariyappah4603]

This year FM must give tax concessions to middle class salaried class, government must not take them for granted.

[@marketlive145]

India should publish monthly employment report and RBI should be given Fed like dual mandate of maximum employment and 3% price stability tht; RBI and Govt should ensure below 5% headline unemployment rate with min wage like 45K

[@raoplns]

Tax authority became a harassment department....thanks to Nirmala and shah politics...

[@ppr2024]

Former foreign secretary Nirupama Rao once said "Pakisthan is a problem that we may have to live with another 50 years". Like-wise middle class has to live with pain for long. I believe it is same across the world. A small correction is not all middle-class in India but the salaried class bearing this pain. Despite GST many like shop-keepers are not yet in tax ambit. Big farmers too out of the net. One suggestion to government Reimburse some GST paid by salaried employees, say on premium purchases like jewellery, cars etc. The purchase are from the income already taxed.

[@fightitout100]

Please ask does STT and Capital gain is justified

[@ampan75]

Govt trying be oversmart. No facilities compared to tax.

[@SuryaMantha]

No government looks after you once you stop earning from salary... Middle class salaried people always loosers in India

[@sasikumarn5786]

It is a long time to have a Finance Minister to present 7 consecutive budgets. No fresh air or vision. It is needed to induce fresh talent to bring in fresh thinking and environment. That should be a priority to Modi O. 3

[@sureshsankar4256]

Nothing going to change.. The salaried going to be under the wheels for ever..

[@MMC619]

Finally someone saying truth

[@CriticRoshun]

I have a feeling that Budget 2024 will once again disappoint us -- the middle class! 😢

[@pravasmisra496]

Middle class voters gave a warning to MODI in last election, if he does not understand it, he will be thrown out of his post.

[@siddharth6505]

The some people he is referring to in 25.27 min is Mr. Jagan Mohan Reddy. He sold shares in his companies like Bharati cements, Sakshi media for exorbitant prices using his fathers power as CM.

[@madanlalgouthamchand3149]

There is one more aspect to be dealt with, is the 139(1) dur dates , sir we have been demanding to make 31 st August for non audit cases, and November 30 as the date for compulsory Audit cases, but the the government has turned a blind eye to this grave problem, it is almost 15 th June every year that the AIS, TIS AND 26AS is available to the public and the professionals to compute the income after matching with the data available on the income tax website , we have only 45 days to prepare the IT return, how is it possible???? Another thing is the CPC keeps on sending queries, which they themselves can correct.

[@santhoshyoganand]

Thanks to Mohan Das Pai for talking on TaxTerrorism in India. Govt not hearing and opposition not voicing this too. For obvious reasons. Tax should come down in India- all types. Income Tax, GST, Road tax, Toll Taxes. Govt should not use inflated tax to show bigger economy at the cost of higher inflation. We need a directly elected - Lok Sabha Member - as Finance Minister. Not a RS member like Nirmala Sitaraman.

[@0xsan-w1h]

I am watching this after the budget came out, and I think Mr. Pai would be extremely dissapointed. Please have a conversation with him again to review the budget. Thank you!