Nirmala Sitharaman's Second Term: Economic Growth Amidst Taxpayer Dismay
Despite a thriving economy under Finance Minister Nirmala Sitharaman, taxpayers are worried about increased taxes and lack of relief. They feel that the benefits of economic growth are being reaped by the government alone, with little reprieve for those who have contributed to it.
Mon, 11 Jun 2024
Despite the economy's impressive performance under Finance Minister Nirmala Sitharaman, taxpayers are worried over increased taxes and lack of relief. The criticism stems from the fact that while the economy may be doing well, the benefits seem to be reaped by the government alone, with little reprieve for those who have contributed to its growth.
One of the primary concerns is the tax on savings and investments. Capital gains tax, interest earned on savings, and even long-term investments like retirement funds or mutual funds are subject to taxation. This discourages people from investing in their future, which can hinder personal financial growth and economic stability.
Why does Nirmala Sitharaman get criticism when the economy has performed well under her despite COVID and other setbacks?
— THE SKIN DOCTOR (@theskindoctor13) June 10, 2024
Answer: Taxpayers are the backbone of the economy. When the economy is doing great, some relief should come back to them also. But instead, you get more…
The frustration is palpable when taxpayers see their hard-earned money being used to fund various welfare schemes and freebies, often for individuals who do not contribute to the country's well-being. Many feel that if the economy is performing well, some relief should be extended to those who have paid their taxes and are now facing increased tax burdens.
As the economy continues to thrive under Sitharaman's leadership, taxpayers are demanding more transparency and relief from the government. Whether this will lead to meaningful changes remains to be seen, but one thing is certain – taxpayers are eager for a say in how their money is being used.
Published by Chronicles Of India. Scroll down to read more
