Authorities disagreements over surcharges, concern of funding disaster Surcharge on wealthy might nicely find yourself hurting funding says a bit of modi govt
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Surcharges are bad for investors on the rich
According to the report of the Indian Express, a top policy maker of the NDA government said that with the introduction of surcharges, the country's investment will have a very bad effect. Particularly 'Unicarn', these are startup companies, whose market value is more than $ 1 billion, they will be more than happy. Apart from this, the number of upper class people will have a bad effect on the increase in the country. An official said that if the government imposes surcharge on 2 crore people, then it is clear that they will avoid investing and will think about going out of the country. Thus, the government is expected to make some more changes in this matter, when Finance Minister Nirmala Sitharaman will answer the finance bill.
Government expects revenues of 1200 crore
Government will get additional surcharge of about Rs. 12000 crore from surcharging on rich people. But with this, experts have warned that this will have a reversal effect on the investment. New tax investment will affect trusts, through which many foreign investors invest money in Indian stock exchanges. An official said that the government should not see income tax rates of developed countries like Norway. They argued that we have low rates low. Rather, countries such as China, Indonesia and South Korea should see which have a competitive tax rate. Per capita income is very high in NAV, there are strong social security and other benefits that India does not get.
Challenging the investment in India
Another officer who is keeping an eye on the investment, says that it is a challenge to bring investors into the country and the government is actively working in this direction that the environment of foreign investment, including domestic, will be better. He further said that at the time when there are more opportunities for both financial and human resources to be transformed, in such a situation, the danger of going out of investors from India is also not baseless. It is worth mentioning that according to a report by the year 2018 in the survey of the market 'New World Wealth', India is second in the top-5 list of high networth individuals (HNI) countries going out.
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