During Modi 1.0, Over Rs. 4.3 Lakh Crore Worth of Tax Concessions Given to Corporates
During its first term at the Centre, the Modi-led Bharatiya Janata Party government provided tax exemptions to corporate entities amounting to a whopping Rs. 4.32 lakh crore, according to Budget documents of various years.
The amount of concessions increased every year from Rs. 65,067 crore in 2014-15 to about Rs.1.09 lakh crore in its last year, 2018-19. On an average, these concessions amounted to about 7.6% of the net tax revenue of the central government.…
In fact, the amount allocated to various key departments this year is less than the amount of concessions given to corporates: department of health and family welfare is planning to spend Rs. 62,659 crore; department of school and literacy, Rs. 56,537 crore; department of higher education, Rs. 38,317 crore; department of drinking water and sanitation, Rs. 20,016 crore, and so on.…
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