Understanding tax relief and Indian economy | Prof Arun Kumar | Faye D'Souza | LIVE

In a relief to the middle class, the government has exempted annual income of up to Rs 12 lakh from income tax and rejigged tax slabs. But what's more in store for the economy? Well-known economist Prof Arun Kumar joins Faye D'Souza to break down the complex figures quoted in the Budget and understand what the health of Indian economy really looks like.
#middleclasstax #indiabudget2024 #unionbudget2024 #taxburdenindia #hiddentaxesindia #indirecttaxindia #directtaxindia #incometaxindia #fueltaxindia #gstindia #taxreliefindia #salariedclasstax #corporatetaxindia #budgetexpectations2024 #middleclasswoes #costoflivingindia #hightaxesindia #taxongroceriesindia #taxoneducationindia #taxonhealthcareindia #taxreformindia #taxpolicyindia #budgetanalysisindia #fayedsouzabudget #taxcutsindia #taxsavingtipsindia #financialnewsindia #budgetinsightsindia #taxdebateindia #taxationsystemindia
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[@debashisbanerjee7082]

Faye, thank you for bringing in Prof. Arun Kumar. He is so clear about what is happening in the budget, it makes it easy for layman to understand.... without the jargons.

[@indranidasgupta1511]

Please do invite Prof Jayati Ghosh if you can.. and Vivek Kaul . Thanks!!

[@Gamerbhilai]

Inhone hi 4 din pehle bol rahe middle class ka tax cut hona chhaiye cetirus paribus now his view changed. Very bad to see this. Koi neutral economist bhi toh ho

[@rsrikrsna]

Wonder how did these congress economists like Arun Kumar got away doing nothing for decades under the congress regime. May be such questions should never be asked to these elitists as It hurts the entitled sect. Just rattling numbers to sound intelligent in the name of unorganised sector every budget to get some sound bytes is what the motive of these chaps

[@33arnie]

​@@rsrikrsnaIn congress regimn? Who was PM of Congress??

[@33arnie]

​@@rsrikrsnado you think this budget would do anything for Middle class because most middle class have income under 50,000😢

[@ayushagarwal8116]

This is probably the best analysis with specific data points mentioned to make clear and logical arguments. This video every Indian should watch.

[@anishag9129]

Professor explained it in a way a anyone can understand. Before watching this video I thought bringing more people to mechanized jobs will bring more sustainable income. It was truly eye opening to hear about the tata steel example and bank example prof gave. I suppose it’s the general thought that the more niche skills one develops, their job is more in demand. Thanks to both of you. I almost missed this video as it was under the “Live” section and not under “Videos” section.

[@YogeshKumar-rm1rq]

Prof Arun Kumar is at his best . Very nice analysis of the budget . Thanks Respected Fay D Souza!!

[@rajeshkumarchand8802]

Excellent. Two points - People who are able to manage their expenses through drawing their savings and taking loans, will use their tax relief for recouping the savings or paying loans. There is no circulation of money. - Freebies are compensation for corruption by politicians.

[@rednihb]

This is not a “ freebie” this is earned by the individual, and a reduction in how much the govt takes from the individuals earnings.

[@VijayPawar-sz6gq]

Unorganised sector cant be converted to organised sector - Intriguing point Arun Kumar Sir is a Master🙏

[@radhadikshitdamodar]

Prof. Arun Kumar has put forward the present deplorable economic scenario, what is between the lines in the budget and also discusses about the right path. He has rightly focussed on the 94% unorganised sector. The discussion is quite fruitful.

[@parnikashrimali9939]

Best assessment of the budget! Demand side problems have not been addressed in the budget! Hardly any demand generation… stimulation needed for those who are outside the direct tax net

[@santanuchatterjee9722]

Thanks a lot Faye for bringing in this analysis. Prof. analysed and explained with perfect examples. The implications in future is gradually becoming clear.

[@vrpavankumar2867]

Thanks

[@AlokAsthana1954]

Prof Arun is a genius. He is also a great nationalist. India is proud of him.

[@saketverma1239]

excellent discussion Faye ma'am.. Respect for Prof Arun, extremely knowledgeable.

[@heeralohia9021]

Thank you, Faye, for bringing in Prof Arun Kumar. As usual, he direct and christal clear in his thoughts on economy. Better to listen to him in English than Hindi.

[@haridasannair6473]

Very nice explanation on the budget by Prof.Arun Kumar (read.).Thank you very much.

[@sudipdutta72]

brilliant Prof Kumar... so simple yet so on point and clarity... such practical examples

[@kp0071]

Absolutely Dr Arun..Rising Trust deficit in the country . Thank you Faye

[@sachinkanchan1193]

Prof. Arun Kumar has explained it in all simplicity. Brilliant analysis.. thanks Beatroot and Faye D'souza

[@rkumarblr1]

Nice data driven analysis. Thanks to Faye and Prof Arun

[@venkatabutchiramaiahmuttan8451]

Good, knowledgeable account from prof. Arun kumar.

[@VaraSubrahmanyan-yi7rq]

Excellent... Finally someone is talking sense

[@kunalganguly176]

Awesome analysis

[@AbhishekThakur-d8t]

Best point by arun ji is about health and education because I also lived in village the education system is terrible and health system is not easily accessible

[@bhavesh-dalal]

Very Well Analysed. Thank you

[@ancientslayer4419]

What a deep analysis and simple explanation., thanku for this valuable video.

[@anilkumarkhurana664]

As it is, Prof Kumar is wonderful in explaing the budget.

[@babahanuman83]

i listened so much to mr. kumar that now i know what he will say before listening.

[@subratade2632]

A great eye opening analysis . Thank you Prof. Kumar and Faye for this program

[@saurabh2490]

Hey Faye, you are a true patriot ❤

[@suprio_gonefishing]

brilliantly explained

[@sarathsk849]

GREAT INFORMATION. THANKS A LOT TO PROF.ARUNKUMAR AND Ms.FAYE.

[@carmelitafernandes6244]

An excellent interview!

[@rohitman2606]

Wow...I just love the answer the professor gave on the freebies offered by political parties...how true is that.😮 @ 20:08

[@wilfredalexandercoelho8003]

Very Good Budget and very helpful to the poor and Middle class.

[@santanubhattacharjee8380]

Very good analysis by Professor on Economy in real terms.

[@Paritostalks]

Political parties in India are investing to develop vote bank of beneficiary class. Govt offer freebies at the cost of inflation and deficit but fails to generate employment, subsidised education and health services.

[@girishkamat3254]

Even if you ignore large corruption in infra projects most of their expenditure for acquiring lands which will never help consumption. Worse we are ending up building roads to nowhere which is hurting Chinese economy now.

[@RikhyoMozhui]

Enjoying watching 🔥 new subscriber

[@pbghosh5305]

Singapore is one of the top most developed countries. It gives the highest freebies to its people. Freebies are no wasting of money if other sectors are properly managed.

[@rednihb]

They are a high income nation, they have developed, so it is possible to give some subsidies, if one does it too soon ( or too much) one can end up like Argentina, a perpetual defaulter

[@pbghosh5305]

Singapore has not started giving freebies from one fine morning it has found itself developed ! It has been giving freebies as it has been developing along the way simultaneously. Refer to Chang and other economic historians, including Prof Joseph Stiglitz, Prof. Sen, among many others. Further, for more instances, one may well take stock of the freebies in the form of myriad social welfare schemes have been run by the Scandinavian countries like Sweden, Denmark, Finland, Norway and other western European countries as well. So, Singapore is not alone in the context. Failure of Argentina may well be traced in its poorly managed allocation and expenditure.

[@rednihb]

@ Singapore’s subsidies ( as well as the Scandinavian ones) were not at the cost of investment in Education and healthcare, India’s is, and is more likely to take us to the Argentina level, without even reaching Argentina’s level of development

[@midastouch7092]

AMAZED BY THE PROF. ANALYSIS. vERY TRUE.

[@pbghosh5305]

It's a very good round up or, say, summation of and on the pros and cons of the Budget by Prof. Arun Kumar, in such a short time. But they are all for literate economics knowing people who are far fewer than cowdung stuffed vast Hollow Men and multitudes.

[@anoopzutshi7752]

FAYE EXCELLENT DISCUSSION...

[@bijuphilip9433]

Very nice ❤

[@crm135]

Yes Prof. is right this Govt is always supporting Capitalists (supply side) not those people who are consuming that.

[@shashipanja4788]

Excellent as always 🙏

[@lostsoul4317]

It is only today that I came to know he was a close friend of Dumbledore

[@thomaspius830]

Good discussion

[@ashutoshmukherjee4380]

Thanks Professor Kumar.

[@shankarramansethuraman3742]

My attitude as a middle class is so far my savings is completely down for the basic reason of inflation on essentials, when a lottery of saving on Income tax of Rs one lac, I will go savings and not spending and the saved money will be kept in bank to beat the inflation going forward

[@prasantasarkar3837]

Very good discussion.Thanks.

[@BenedictJ.Anthony-dd4wx]

Hi FAYE this BUDGET of GARLIC ONIONS POPCORN 🍿 MADAM NIRMALA SITARAMAN AND MODI GOVT EXEMPTED 12 LAC TAX FREE. ITS LIKE GIVING BANANA IN CRYING CHILD HAND.. THANK YOU FOR BRINGING RESPECTED PROF KUMAR.. 🙏

[@kaitandlima4608]

For a person like me who was not paying tax on salary, how is this budget making sense for me?? M concerned about inflation because I'm not able to buy anything, my salary has not increased. So what does this budget have for me?? GST on FMCG has been reduced??

[@TheMirandthePir]

He is absolutely correct make him the Finance Minister.

[@badrikn7174]

Faye, I am a senior citizen with no come, except interest on Senior citizen deposit. Should I have to pay tax and file return for this account year.

[@tojyjv748]

There are two things to consider when talking about tax relief. 1. First one is psychological. Suppose I get 1 lakh rupees as income every month. Now through tax cuts I get 1 lakh tem thousand. Now I won't feel any substantial increase in my income since i get only 10000 more. So I will not spend more. Instead I will save. 2. Now even if middle class decide to spend more. What will he spend on? Luxury goods. Because they already have all the necessities. These luxury goods come from China. It will not increase production in India. It just increases imports. 3. Some of the extra money acquired by the middle class will be spent on buying gold. This increases gold imports. So the poor in India will remain poor. Rich will become richer.

[@ratanlalgupta3633]

Would it not have been better if petrol,diesel,cooking gas etc.were made cheaper as it would have helped poor and lower middle class in a big way ???

[@emmadyvijaypaul]

I will fully agree with prof,

[@apooru241]

No one cares if you agree or not 😂

[@alokmisra3353]

Faye is best

[@subodhbhatnagar5789]

Madam Faye , This is the first time I think the genuine tax payers have been given some relief. Must complement the government for it. Corporates were given massive tax cuts and schemes for weaker section like free food, MNREGA, and various welfare schemes under PM name were being funded through tax revenue. Middle class genuine income tax payers were grappling with higher education fees, tolls, air and rail fares, medical bills as there was no Ayushman Bharat for them. Most of their expenditure doesn't get reflected in CPI/WPI Yes informal/unorganised sector should definitely be looked after as they are the backbone of of our economy Government should rework on this account Regards

[@sudhinbathija4833]

Assume I have 10 L stcg from the stock market, then do I pay 0 tax if my total income is < 12 L? My view is no, kindly clarify and I pay stcg at 20%. Thanks.

[@parnikashrimali9939]

This right wing government will never ever pick the recommendations of professor Arun Kumar

[@Gamerbhilai]

Can you summarize the recommendation for us to go through and understand and then demand via mobilizing public opinion

[@Indiacitizen1]

I wish you had explained the reason and implications of Income Tax Bill after a week, and whether it's usual.

[@AbhishekBarari]

if 2.5 crores spend 50k extra per year that is 1.25 lakhs crores of spending increase. That is a $14B dollar increase in spending. At GDP level that is around $20B. Also it is erroneous to assume that the remaining 2.5 crores will not increase their consumption. Any increase in savings does convert into consumption to the tune of at least 50% of the savings. So the net increase in GDP will be around $30B. That is 3% of the next $ 1 trillion addition in the economy that we are looking for. Just by changing a tax slab rate. Further this increase in exemption limit will also mean that many who were under reporting their income will now report higher income and be eligible for more finance. That will in turn push up spending even more. That impact will be significantly higher than the tax savings.

[@girishkamat3254]

Government has given 1.10 lakh crore benefit is only only narrative. Most people earning that income are in old regime where they already dont pay taxes upto 10-12 lakh range. Otherwise despite so called reduction of 1.1 lakh crores, personal income taxes are projected to go up by 1.80 lakh crores vs 1 lakh crore for corporate taxes where there is no reduction.

[@rednihb]

In the old regime there is tax slabs above 5 lacs, so people up to 12 lacs do pay tax currently, under the announcement made yesterday it is a benefit this category of employees are getting. The point being made is how much will it help as these are a small part of the population

[@girishkamat3254]

@@rednihb Most of them get benefits like LTA etc, Interest on Housing Loan(2 lakhs), 80C(1.5 lakhs), health insurance, NPS (0.5) and saving interest (0.10) and so on. So there is no taxes under old regime between 10-12 lakhs.

[@bakasudha1]

Nice

[@gokul1399]

infra projects are never completed on as budgeted but always delayed and escalated. That is great business......

[@techbasics6142]

do you think the govt should have enhanced 80C to incease demand and savings net? also,how does taking away home loan benefit is going to affect housing demand? as tax net on that is being less lucrative

[@blskst]

Faye one massive unanswered question.. Why is the govt not presenting a report card on last years budget projections and expectauons and what they did wit h the peoples money.. The economic survey does not answer that and nobody is asking for accountability.. On the floor of Parliament. Like what about the internship steps announced.. What was achieved from this... So many unanswered questions.

[@zahirlaliwala5371]

2.5 crore people will save only 7000 per month maximum , … people earning 1 lakh per month has already have 3 to 4 thousand GST payment for their daily needed items . How much they can spend to boost economy?

[@mohangupta7585]

Hello Faye Mam when you are with Times channel i is to watch your programs, now a days less... just want to congratulate you recently acting in a Movie...

[@sharathahuja8261]

I personally miss the post budget analysis by Nani Palkhivala.

[@V.L.Narsapur]

Crisply summarized. Every tax payer slabs must be analysed as per how much direct and indirect taxes each is paying to survive monthly or annually

[@bravikumar8950]

No tax for 12 lacs is really good relief for tax payers.To that extend demand increase.In this situation perhaps there is no alternative except to increase feebees to increase demand in unorganised sector as more people are there in unorganised sector as long as there is no job creation, self employment in massive amount.

[@DebVids]

Very good makeup!

[@ranbirpaul6547]

Forget about budget and tax benefits. Even if we become poor, Modi is going to provide us free rice and monthly freebies which would keep us happy though out life.. Better to be poor than struggling and living a middle class life. India is heaven for poor people but not for middle class who is under tremendous debt and burdened with lot's of problems.

[@rameshg2717]

Need to create a cooperative like amul for manufacturing. Where training and loans will be provided by the cooperative for improving the msmes. Germany has done it..

[@srinisbir8781]

The micro infrastructure that Arun is talking about is done by the states, not the central govt.

[@mohanrgopal6097]

Improper planning in the implementation of GST destroyed unorganised sector.

[@hk4848]

The idea is different. Look at this way. The income more is good to get loan more loan means more indebted you become. When there is no change in 18% gst on insurance

[@gautamsen4195]

It is beyond this dispensation to repair our economy

[@asolomon70]

RBI needs to aggressively hike interest rates

[@mohanrgopal6097]

To head in the right direction all government ( centre and state )should invest heavily in education - provide free excellent education and good free food in the schools across the length and breadth of our country. Education should be made mandatory to every child upto 12th standard. Education will give the discerning power to our citizens to elect the right politicians to run the country

[@Bottomline_is]

Not totally agree with it but a good perspective.

[@kennethmenezes6555]

Stop collecting so much on GST.

[@crm135]

Yes, There is no need for Direct taxes at all. Becuase the Govt is looting much more by Indirect Taxes. The govt can close IT department and save money.

[@sharathahuja8261]

It is reported that the amount of Black money stashed away abroad by Indians is about 3-10 Trillion USD or Rs.240-800 Lakh Crores. Can we get that money back.

[@apooru241]

No

[@pbghosh5305]

The host should start with more emphasis on what Budget 2024 promised and targeted and what it achieved. Prof. Kumar has it in thumbnail by way of reference. Common people will better understand catechism. Holy cowdung cakes have already entered into the head.

[@gurusharan4705]

In short one lakh crores have been transferred from the poor to the middle class. Now both classes may vote for Modi ji of course due to different reasons.

[@sharathahuja8261]

How many people pay taxes in India?

[@swamidasanvm6504]

If ordinary people should benefit then GST should be reduced considerably. Further central govt should reduce its loot of GST from current fifty percent to one third. Two third should go to states. Remember central govt's voting right in GST council is one third of total votes. Current pampering of tax payer is with an eye on Delhi election

[@davidkrupadanam1179]

This budget is freebies for the middle class (organised sector) in the range of 30K to 1 lakh per year

[@shaikhmohammadhasnain9069]

The problem is bania modi wants to keep all money in the hand of itself and his corporate chumcha's. They don't want to give money in the hand of people in the unorganised sector, it's a nightmare for them to imagine giving money in the hand of people. So, Modi's ship will sink for sure, matter of time, till then play the game of Hindu Muslim 😊😊

[@shantanubagchi3468]

Anybody associated with JNU can't be pro BJP..10 economists will give 10 different opinions & no two will ever agree on a certain issue. A country can run better without any economist. A bania does it better than an economist. Demand in India has always been a problem. A country with a per capita of $ 1100( 90% population)in real terms can never improve with 140 billions. Too many issues remain unsolved year after year. Politics and Economics can' go together.

[@LadyInsipidity]

This is what a Pakistani would think, and look at their economy now. The US post war boom was due to economists supporting Keynes. Without economists, the capitalist world would have sunk after the Great Depression, because the interests of businessmen were undermining capitalism, because of their opposing demand management. Economists these days pretend to be faux scientists, and their models don’t reflect the real world. JNU economists are Keynesians and other heterodox folks, who have always challenged contemporary faulty orthodox economics. The point is, India has been ridden with faulty models since 1991. Before 1991, there were some policies which reduced poverty systematically, protecting the majority. Contemporary economics makes spurious claims about poverty reduction while food consumption of the majority has been on the decline. People are forced to spend less on food, because essential services have become more expensive. Point is, keep going blindly and you’ll end up in crisis with worsening poverty and rising economic instability ie, another Pakistani

[@rohankumar-oe4gr]

This analysis somehow completely misses two points: 1.Many in the unorganized sector earning crores and not paying their due thereby overburdening those in the current tax net 2.Aspirational value of mobilization to organized middle class of the unorganized class

[@User-fabulous-upright]

While i respect Prof.Arun Kumar’s view, but all i am saying that his view 30 Lakhs is well off, is not a reality, with the inflation, cost of education, health,high fuel prices, 30L is not as well off as being said, I also can imagine the plight of the poor!

[@gokul1399]

You need good and clean trains for the general public leave aside vande Bharat, Rajdhani, Duronto etc...

[@js4784]

Please address rising unemployment of MBA freshers accross industry sectors and the steps Government is taking towards addressing this pain area

[@KVR8527]

This gentleman agreed that there is an employment generation already but after relaxing income tax limit, the employment generation will come down 😂

[@sureshglobeit]

Food inflation how much increase in expenses. Rs. 60,000 income tax saved in FY 2025-26.

[@parnikashrimali9939]

No change in highly profitable corporates is really disappointing

[@SMon2023]

Its not really a reduction in corporate taxes if the largest reduction has largely benefitted Ambani and Adani. SMEs are still struggling. The returns from public services are so meagre that any discussion of a middle class paying the largest share of taxes is joke worthy. I would be fine to see if some of the revenue is used to uplift the poor or direct recipients of transfers, but even that is sad given that now more people are living in poverty. The only conclusion is that our contributions are being poorly managed. There is absolutely no respect for voters and tax paying citizens, and their hard earned money.

[@atharvsharma4372]

Mujhe lga Modi ji hi aagye aapke channel pe before I read the caption😅