"The Budget Does Not Address the Structural Problems in the Economy"

The Wire's Founding M.K. Venu in conversation with Praveen Chakravarty , Political Economist, Chairman of All India Professionals Congress to discuss budget 2025.
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[@vinayakdamodar980]

Out of 7.5 Crore individual ITR filers , already 70 percent *do not* pay any tax. Income tax payers are only *1.6 percent* of the Indian population. Instead of widening the tax base , now the tax burden further shifts on those earning more than ₹12.75 Lakhs.

[@Dr.SyedSaifAbbasNaqvi]

When there was more tax you had problems, now it's less then also you have a problem. People above 15 lakh income were paying 30% now it has been increased to income above 24 lakh. When people will have more money they will spend more which will in turn boost our economy. Wire audiences are certified lunatics.

[@Dadasahab1234]

Laughing arguments by bhakts..😅

[@vinayakdamodar980]

​@@Dr.SyedSaifAbbasNaqvi You begin your comment with a juvenile strawman logical fallacy , indicating your reading and comprehension is inadequate . Let me summarize the points I have made in multiple comments - This tax relief though welcome is grossly inadequate (in light of the Economic Survey report and Chief Economic Adviser's observations ) and affects only a tiny segment of the population . Inflation is the biggest tax on your purchasing power . Yes critical thinking and nuanced analysis may seem like lunacy for thaali banging *cheerleaders* .

[@maybepriyansh9193]

u should look into the median household income in India before worrying about the number of people who pay(aka are capable of) income tax given the amount of minimum required to maintain a basic level of subsistence. Also the main issue is that for the first time in this country we have corporations paying less taxes than the working class which puts pressure on working class taxes for govt spending power along with lowering welfare for the wider public which both deteriprates the standard of life and reduces consumption power of the working class. Also govts own economic advisor recently admitted to the fact that corporate profits have increased 4 times but real wages are decreasing. This is a problem of corporate greed and lack of regulations and labour favoring policies from the govt. This lack of growth in wages despite multifold increase in profits further supresses consumer demand and hence investment incentives. Also the main source of taxes isnt income tax but indirect taxes. You need to factor in all these factors along with others to understand the state of economic situation,

[@satvac8626]

Every one of us pays indirect taxes every time we spend/buy something. Income tax only a few of us pay. 🙏🙏🙏

[@kalidasa_in]

First they should focus on ease of living and ease of walking and transport in our cities, Then, they should focus on ease of business. As of now they are so far behind ease of business that they do not understand it.

[@AnirudhSingh-q717j]

Structural Problems cannot be addressed. If the Government accepts its mistakes, then it will backfire politically.

[@ranadas4934]

FDI in India raises concerns, especially with BJP's opaque funding through electoral bonds. Instead of addressing public needs, the BJP prioritizes power, cuts corporate taxes, and burdens the middle class. GST offers no relief, exacerbating the exploitation of citizens.

[@MR-hc9tg]

Unemployment crisis still exists for youth. GST is very high. Prices are high

[@vinayakdamodar980]

Always remember *Inflation is also a TAX* . 3-4 percent relief in taxes (for those earning more than 12.75 Lakhs) is of little value when inflation is 7-10% . The Chief Economic Adviser to the PM has admitted wages have been stagnant for last 6 yrs. Food inflation has been consistently high . The purchasing power of the average household has diminished significantly in the last 6 yrs . If Govt does not bring down inflation to less than 4% this relief is meaningless.

[@counterpoint9260]

thats why you get 5-7% hikes 🙂

[@counterpoint9260]

inflation was double digits during UPA 1/2 terms, how did we manage then?

[@vinayakdamodar980]

@ The report cited by the CEA states real wages adjusted for inflation has been stagnant for 6 yrs despite record Corporate profits. The CEA mentioned that these record profits are not translating to higher wages or higher private investment . You can read about the report to get a better understanding.

[@vinayakdamodar980]

​@ : Inflation eats away at the purchasing power of the citizen. Why is this important ? If we have to become Viksit Bharat by 2047 , we cannot have 6-7% inflation for the next 22 yrs. Take China for example - China's inflation rate has been around 2 percent for the last 2 decades and their currency has remained the same as it was in 2004 . So the purchasing power of the average Chinese citizen has not deteriorated much over the last 2 decades. There is no use of becoming $50 Trillion GDP by 2047 if USD-INR is going to be 300 , and purchasing power of rupee 1/5th of current value.

[@counterpoint9260]

@ agree, i thought this govt had put a inflation-control regime in place? as parroted often by their economists?

[@tadepalliprasad]

The most vital.. Education &healrhcare are put in corporate hands.engineers undrremployed..working as truck drivers, security guards and increased 10000medical seats will send medical graduates into executors of "panchakarma" ! 4:09

[@harrishvenkateshgowda7270]

Rs 7,500 crores were spent to collect Rs 2 lakh crores from devotees. And BJP, RSS say that Hinduism is our faith.

[@GODIMEDIA-b1r]

80 - 90 करोड़ भारतीओं की इनकम ही नहीं है , 12 लाख तक की टैक्स छूट का क्या करे 45 साल ही Highest बेरोजगारी है जनाब

[@SpSingh-jv3ne]

Nice to Venu on screen.

[@girdharrathi6728]

Budgets are not meant to overhaul the policy. For this, you need to formulate policies independently. Separately.

[@cyclopes968]

The Indian economy currently relies on just 10% of the population. To integrate the remaining 90% into economic participation, sustained good governance-both at the state and central levels-will be essential over the next two decades. No single budget can achieve this transformation. In the short term, reducing taxes can stimulate consumption, while simplifying indirect taxation to just two slabs-5% and 12%-would create a more efficient system. This approach would empower the existing 10% to drive economic growth in the immediate future while laying the groundwork for broader financial inclusion.

[@sitanshurai892]

Absolutely. While as a salaried class, the direct tax relief is very much welcome and may even reverse some of our brain drain, the GST code still badly needs to be simplified and the govt tendering process needs to be cleaned up. We have to encourage competition instead of concentration of wealth and power. We have to reduce corruption and our Union and state schooling education budget needs to be increased substantially. 10% of state GST revenue share can be made conditional on proper school funding reform and states can be forced to undertake that.

[@fazzperl]

Tax must have been made truly zero till 12 lakhs rupees for every salaried Indian. For people earning more than 12 lakhs, tax slab starts from 4 lakh rupees which is really wrong and unfair. Tax slabs must have been as follows: 0-12 lacs (0%) 12-16 lacs (5%) 16-20 lacs (10%) 20-24 lacs (15%) 24-28 lacs (20%) 28-32 lacs (25%) 32 lacs+ (30%)

[@Badass-Elon-kumar2624]

Exactly 😢

[@brajeshsingh2391]

taxation on salary is progressive. Therefore increase in slabs means there will be overall reduction in taxation even for higher income slabs. In fact some would argue that maybe more than required relief has been given. I mean people earning 1 lakh aren't really the most low income in the country. But then the middle class pays tax on both income and consumption and this will boost consumption. People will buy stuff they have been wanting . Hence it is a consumption boosting step.

[@sitanshurai892]

Arey They made a fool of us. I deleted my original comment. I was so happy for a while. Now, I'm so angry. @fazzperl you're right. Above 12 lakh salary you'll pay according to same slab as mentioned before which is so unfair if you imagine someone earning 12,75,001. 12 lakh is not an exemption limit for all us. Till 12-12.75 lakhs you're exempt from paying income tax. Over that you pay according to: ₹ 0 - 4 Lakh NIL ₹ 4 - 8 Lakh 5% ₹ 8 - 12 Lakh 10% ₹ 12 - 16 Lakh 15% ₹ 16 - 20 Lakh 20% ₹ 20 - 24 Lakh 25% Above ₹ 24 Lakh 30%. What is this bullshit ? This govt is totally idiot or what. It's like they are saying FU if you earn over 12.

[@brajeshsingh2391]

@@sitanshurai892 Nobody made fool of anybody. It was said till 12 lakhs no tax in fact 1275000 no tax. Beyond that you have to pay tax. The FM said that clearly in her speech and also mentioned that incomes at special rates will not get any rebate. So benefit on capital Gains. Therefore salary income till 127500 gets zero. If you fall beyond that its bad luck but still your tax will be lower as standard deduction has been increased and tax slabs raised.

[@sureshharinathbabu9717]

We have good business every SME is missing, now we have a great demand for nagpur half trousers 👖 for British janta party, we can make a big money by supplying to it

[@aniltuli5860]

_सीनियर जर्नलिस्ट श्रवण गर्ग जी के अनुसार...दिल्ली में 1.6 करोड़ वोटरों में से 40 लाख इनकम टैक्स रिटर्न फाइल करने वाले हैं... आज 12 लाख तक की इनकम पर टैक्स खत्म कर दिल्ली के वोटरों को प्रभावित करने का खेल... ठीक 2016 में यूपी चुनावों की घोषणा... और विपक्षी दलों द्वारा चुनाव के लिए अपने कार्यकर्ताओं में पैसा बांटने के बाद...रातोंरात की जाने वाली नोट बंदी जैसा खेल है...जिससे खेल करने वालों को यूपी में कब्जा करने में कामयाबी मिली थी जो आज तक कायम है..._ 🙏

[@GODIMEDIA-b1r]

एक तो 80 करोड़ सरकारी राशन पर है और इनकी कोई इनकम ही नहीं है लिए इस टैक्स स्लैब का कोई फायदा नहीं है जिस हिसाब आपका रुपया गर्त में रहा है और महंगाई बढ़ रही है उसमे 12 लाख की छूट का फायदा कम मिलेगा रोजगार किधर है ? टैक्स स्लैब के लिए लगता है सरकार ने , जनता को कितनी इनकम तक छूट दे की देश और लोगो का भला हो ? वाला question का उत्तर "डीप सीक" से पूछ कर announce किया है

[@JoseMathew-m6v]

FINANCE MONSTER OF INDIA😮😮😮😮😮😮 POPCORN JI😮😮😮😮😮😮 HYPE JI😮😮😮😮😮

[@pardeeptandon]

2004, the FDI and FII inflow accounted for 0.7 % of our GDP. Manmohan Singh took it up to 1.7 % of GDP, but the 4thi pass has brought it down to 1.4 % India needs Administrative reforms more than economic reforms.

[@PraakashRanjann-fz7rc]

No Mauni baba was not 4th pass,its a different matter he served a illiterate pappu so behaved as an illiterate

[@drshokatalisaiyed4733]

Are the Labour intensive Technology required tax rebates in the industry???

[@rohitxin]

Now Venu is not in very hurry, and not interrupting when intervee when he speak. Now hie is talking at his Normal, which I still see a little kind of hurry. Now the Problem is Venu sets the bar of the level of conversation. I think a Bcom graduate student can understand this conversation completely, which also has very certain small range, and I think a student who just passed Bcom 1st year will not able to grasped this completely in which these two were talking. Second, why he don't use referencees for his each assertions? Here If you see any Thaper's interview he always mentioned his source - Newspaper name and date. Even for the general assertion you also need to mentioned Govt's own admission of it's incompetence. Forget about ideology at this point, think about how you can make your conversation understandable for non economic background 18+ years old person. I think this should be the benchmark or level of conversation.

[@smrutimayeemishra3795]

Correct..no structural reform of economy...only coloring of the wall..&give relief for middle class..FDI..less &investors not invest in india...

[@ageaff]

Internship announcement was made last year. Now you have to talk about this year announcment only.

[@balasubramanianramaswamt1711]

Where is economy develop, The GDP only 5% have not take the point FM why?

[@ageaff]

This government is champions of announcnment. But no implementation.

[@satvac8626]

Some band-aid for middle class to change the mind of Delhi voters???!!! The economy is in do drums. GST not reduced. Farmer's neglected. No clarity on schemes. All vague promises which the common man doubts will be fulfilled. Foreign currency in kitty all time low not to mention rupee drop visa-vis dollar. So what's new with the FM who does not seem to have a clue of ground reality. If proper action is not taken Dr. Manmohan Singhji's words will come true. Will We the people in the future be sitting with a begging bowl or what?🙏🙏🙏

[@sathyendrababu7868]

Govt, get out of the way of businesses😅😂

[@hemants337]

Thank God for it... she is no Dr. MMS, she would ruin whatever is left of Dr MMS' doing...

[@bashyamkumarperumal9659]

Where is the structure built by you before BJP’s ruling? Can you answer please 😮

[@mohmadyusufsyed6725]

Stock market today is not responded positively the budget.

[@murlimenon2291]

MK Venu is stammering asking questions and its taking so long to ask. Ask pointed and short questions.

[@faizaansheikh5233]

Good for unbiased but it's always biased of not appreciating good things. Please be unbiased

[@mintusaren895]

Sata barshra na satasahashra purbebe. Am bhagua dhari. Kapad nai.

[@Dr.SyedSaifAbbasNaqvi]

There is section in income tax call 87u/s which provides tax rebate for certain income limit . The limit for this year is 12L taxable income and rebate is upto 60K. If some one earns 12.75L , then taxable income is 12.75 - 75k (standard deduction) = 12L Then 0-4 - 0 tax 4-8 - 5% = 20K 8-12 - 10% = 40 K Tax = 60K Taxable income is less than or equal to 12L, so rebate - 60k So payable tax = tax - rebate = 60-60 hence zero If taxable income is above 12L , rebate becomes zero , hence he/ she has to be pay taxes according to slab fully. Also, people having income above 15 lac was paying 30% tax now that is pushed to income above 24 L in the new budget. This is great since more money will flow into the economy as people save money through less tax.

[@roopabee8542]

Desi Reganomics

[@Dadasahab1234]

Loose Wire presents funny arguments. Only Modi critics are invited on this Congress bhakts channel. 😅

[@lostsoul4317]

Early they used to crib about taxes on middle class. Now Wire is crying about no taxes being levied. They will bark no matter what 😂😂😂

[@dennis26091985]

Why are you barking then?

[@bashyamkumarperumal9659]

Everyone talks like a congress or DMK politician

[@dilippatwa6574]

What is the structural faces ???

[@njk2920]

Venu should talk less

[@sanjaygadhalay1523]

Very dull ... No josh in discussions ..repetition in a😚ataid manner

[@AlexBen]

😂😂🤪🤪 Its better to increase income of more people to income tax payable bracket than thumping desk in parliament foolishly for increasing the tax bracket where less than 1% (People with salary between 7-12 lakh per year) may benefit.

[@sanjaygadhalay1523]

The idiots dintbknow difference between iti s and iits. ...see the point made ....on education. Skills

[@terminator2810]

Who decides what is good and bad you need to have a proper education with acceptance you not Brahmin but a tool or toy Mr 56

[@atamsingh1744]

We have no structural problems in our economy. Our economy is vibrant and the country is surging ahead. This is evident from the fact that India is "" a Vishav Guru, a World Power, Leader of Global South, Leader of G-20, Leader of Quad, an elite/pioneer member of aerospace technology club countries, No.5 economy ( very soon to be No. 3 ) of the world, to be No 1 economy in 2080 as declared by Modi ji, a counter balance of China etc. Modi ji can stop the wars by one phone call and the entire world is taking a note of India. China and USA are afraid to oppose India openly as India is a major military power. On top of it, very soon India is going to be a Hindu Rashtra, where Hindus will be able to live safely and minorities will have no voting rights. This is a dream come true for India. So why you are so critical of our beloved country.

[@cryvell2109]

Pl verify the facts and troll.

[@vk1512]

Wire the liar😂

[@NIGHTLINE-1INTERNATIONAL]

Good to see you Venu, how is Siddharth doing? Keep Wire free from Mrs Fitna Khanum.

[@karthiknekkanti5510]

its congress that destroyed Indian economy.BJP is trying to revive by its progressive pro business policy but the damage done by congress is so deep it take few more terms for BJP to bring the economy on Track. Actually the 1991 reforms were forced on the then government because there is no way out at that time because of the dwindling forex reserves at that time in 1991

[@Sitaben-j8n]

Market 1200000 vala korahat 2pacant piples