Here is a Twitter thread illustrating some mind-blowing economic facts about our country
15-Apr-2022
Akshat Shrivastava (@Akshat_World), an entrepreneur and investor, shares some interesting facts about our Indian economy in a Tweet thread. Let's delve into them.
[1] According to a 2012 RTI filing, there were 8Lakh people with more than 1Cr in Agriculture income, who paid ZERO taxes in India.
— Akshat Shrivastava (@Akshat_World) April 10, 2022
Such situations exists because governments operate on political feasibility (break the back of salaried folks), not economic arguments.
[2] Nepal has 0 Oil refineries, but India has 23.
— Akshat Shrivastava (@Akshat_World) April 10, 2022
Interestingly, the petrol prices in Nepal is roughly 22Rs less than in India.
In fact, people from Bihar's Araria and Kishanganj districts try to buy petrol from Nepal and sell it in India.
Double whammy for the salaried class
Rationale given: rich people pay for petrol/diesel. And, the money collected is used for the welfare of the masses.
— Akshat Shrivastava (@Akshat_World) April 10, 2022
More details on my video here: https://t.co/QkjksHHxHY
[3] High crude prices lead to more inflation in India. And, impacts the poor.
— Akshat Shrivastava (@Akshat_World) April 10, 2022
Inflation impacts people with less discretionary discretionary income the most (i.e it impacts poor more than the rich).
This makes poor people poorer.
[4] India has one of the highest indirect tax structures in developing economies.
— Akshat Shrivastava (@Akshat_World) April 10, 2022
This hits the poor A LOT.
[5] If you aggregate all these facts, you get a very clear picture:
— Akshat Shrivastava (@Akshat_World) April 10, 2022
a. Tax whom you can, as long as it is politically feasible. The salaried class is a clear target.
b. Spend on freebies to build a narrative that state supports the poor.
