'Where should the common man go...?' social media user got furious!
On february 1, 2025, Finance minister Nirmala Sitharaman will present the general budget in Parliament. people are expected to get tax relief from this. The citizens of the country are hopeful that after the rise in the stock market last year, many other taxes including capital gains tax were increased. Now when the stock market is in a downtrend, people are hopeful that the Finance minister will also offer some relief.
venkatesh slammed the Finance Ministry
Meanwhile, a person named venkatesh Alla shared his grief over the increased tax on social media and shared a copy of a receipt, which revealed that up to 48 percent tax was levied on the purchase of a car. Tagging the Finance Ministry in his post, venkatesh wrote, "What is this? There is no limit to this loot in broad daylight. Your incompetence and inefficiency are taking the country backwards. This is very shameful!''
Common man burdened with taxes
Referring to the increasing tax burden on the common man, venkatesh also wrote that ''Today, a person earning Rs 1,000 is paying a tax of Rs 340.
Of the rest that is left -
A petrol purchase of Rs 200 attracts a tax of Rs 110.
A Rs 200 spent on education attracts a GST of Rs 36.
A Rs 100 spent on insurance attracts a GST of Rs 18.
A Rs 100 spent on books and stationery attracts a GST of Rs 18.
A Rs 100 savings and Rs 50 interest earns a capital gain tax of Rs 10.
What is left then? Only Rs 300 - out of which there is still money left to spend on things like toll fees, hospital bills (with GST), rent, groceries and entertainment. More than 50 percent of our income is gobbled up by the government. What do we get in return? Poor air quality, pothole-ridden roads, rampant corruption, a sluggish judiciary, crumbling public infrastructure and rising inflation.''
venkatesh raised the issue of tax terrorism
venkatesh has also criticized the policy makers in his post. He writes, Tax terrorism is dangerous for the future of India. These uneducated and incompetent politicians do not understand this. Neither do the people who sell their votes.