• About us
  • Careers
  • Brand Partnerships
TFI Official Merchandise
TFI हिन्दी
TFI Global
Saturday, April 1, 2023
Tfipost.com
  • Premium
  • Politics
    • All
    • Analysis
    • Opinions
    • Trending
    Digvijay is not Congress; Congress leaders are not Congress; then who represents Congress? convicted Rahul Gandhi?

    Digvijay is not Congress; Congress leaders are not Congress; then who represents Congress? convicted Rahul Gandhi?

    Bhutan PM statement

    Bhutan’s unfortunate statement on Doklam stalemate

    The cat and mouse game between the Indian government and Zakir Naik, and why Naik is winning

    The cat and mouse game between the Indian government and Zakir Naik, and why Naik is winning

    Mamata Banerjee petition

    Bombay HC castigates Mamata Banerjee for being unpatriotic

    • Analysis
    • Opinions
    • Trending
  • Economy
    • All
    • Business
    • Economy1
    • Finance
    overall exports of India

    India’s overall exports crossed $750 billion

    UPI interchange fee

    UPI interchange fee: NPCI levies transaction charge, who will pay?

    Chinese FDI

    Nirmala Sitaraman takes out her club to break Chinese investors backbone

    Campa Cola

    Reliance’s foray into Indian Soft Drinks: Can Campa Cola make a comeback?

    • Business
    • Finance
  • Defense
    • All
    • Defence
    • Strategy
    • Weaponry
    Khalistan – Pakistan’s only successful project against India

    Khalistan – Pakistan’s only successful project against India

    Defence Ministry to boost IAF’s capabilities

    Defence Ministry to boost IAF’s capabilities

    ASEAN’s Defence Market: India and South Korea Compete for Supremacy

    ASEAN’s Defence Market: India and South Korea Compete for Supremacy

    From Pipeline to Power Grid: India and Bangladesh Forge Stronger Energy Bonds

    From Pipeline to Power Grid: India and Bangladesh Forge Stronger Energy Bonds

    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • All
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
    Bhutan PM statement

    Bhutan’s unfortunate statement on Doklam stalemate

    The cat and mouse game between the Indian government and Zakir Naik, and why Naik is winning

    The cat and mouse game between the Indian government and Zakir Naik, and why Naik is winning

    Saudi Arabia Pakistan loans

    No more interest-free loans: Saudi Arabia and Kuwait humiliate Pakistan

    AFINDEX-2023

    AFINDEX-2023: The Defence Ministry’s Outreach to African Nations, A Closer Look

    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • All
    • Culture
    • History
    • Indology
    Balochistan India

    Nehru’s Historic Blunder: Why Balochistan Remains Disconnected from India

    Raghunath Rao

    Raghunath Rao vs Peshwa Madhavrao: The Mahabharata that could’ve been avoided

    Merger of Jodhpur

    A Narrow Miss: When Jodhpur Nearly Became Part of Pakistan

    Yes, Akbar was more Naseeruddin Shah and not even one bit of Hrithik Roshan

    Yes, Akbar was more Naseeruddin Shah and not even one bit of Hrithik Roshan

    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • All
    • Books
    • Cinema
    • Food
    • Health
    • Lifestyle
    • Satire
    • Sports
    • technology
    • Travel
    Bholaa movie review

    ‘Bholaa’ movie : True Review

    Siddharth Roy Kapur Bollywood

    Siddharth Roy Kapur has predicted the future of Bollywood and it makes a lot of sense

    EV Charging Stations

    India’s Push for Electric Vehicles: Boosting Infrastructure with 7,432 Charging Stations

    Top 10 Strangest Lakes in the World

    The Enigmatic Wonders: Top 10 Strangest Lakes in the World

    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
No Result
View All Result
Tfipost.com
  • Premium
  • Politics
    • All
    • Analysis
    • Opinions
    • Trending
    Digvijay is not Congress; Congress leaders are not Congress; then who represents Congress? convicted Rahul Gandhi?

    Digvijay is not Congress; Congress leaders are not Congress; then who represents Congress? convicted Rahul Gandhi?

    Bhutan PM statement

    Bhutan’s unfortunate statement on Doklam stalemate

    The cat and mouse game between the Indian government and Zakir Naik, and why Naik is winning

    The cat and mouse game between the Indian government and Zakir Naik, and why Naik is winning

    Mamata Banerjee petition

    Bombay HC castigates Mamata Banerjee for being unpatriotic

    • Analysis
    • Opinions
    • Trending
  • Economy
    • All
    • Business
    • Economy1
    • Finance
    overall exports of India

    India’s overall exports crossed $750 billion

    UPI interchange fee

    UPI interchange fee: NPCI levies transaction charge, who will pay?

    Chinese FDI

    Nirmala Sitaraman takes out her club to break Chinese investors backbone

    Campa Cola

    Reliance’s foray into Indian Soft Drinks: Can Campa Cola make a comeback?

    • Business
    • Finance
  • Defense
    • All
    • Defence
    • Strategy
    • Weaponry
    Khalistan – Pakistan’s only successful project against India

    Khalistan – Pakistan’s only successful project against India

    Defence Ministry to boost IAF’s capabilities

    Defence Ministry to boost IAF’s capabilities

    ASEAN’s Defence Market: India and South Korea Compete for Supremacy

    ASEAN’s Defence Market: India and South Korea Compete for Supremacy

    From Pipeline to Power Grid: India and Bangladesh Forge Stronger Energy Bonds

    From Pipeline to Power Grid: India and Bangladesh Forge Stronger Energy Bonds

    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • All
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
    Bhutan PM statement

    Bhutan’s unfortunate statement on Doklam stalemate

    The cat and mouse game between the Indian government and Zakir Naik, and why Naik is winning

    The cat and mouse game between the Indian government and Zakir Naik, and why Naik is winning

    Saudi Arabia Pakistan loans

    No more interest-free loans: Saudi Arabia and Kuwait humiliate Pakistan

    AFINDEX-2023

    AFINDEX-2023: The Defence Ministry’s Outreach to African Nations, A Closer Look

    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • All
    • Culture
    • History
    • Indology
    Balochistan India

    Nehru’s Historic Blunder: Why Balochistan Remains Disconnected from India

    Raghunath Rao

    Raghunath Rao vs Peshwa Madhavrao: The Mahabharata that could’ve been avoided

    Merger of Jodhpur

    A Narrow Miss: When Jodhpur Nearly Became Part of Pakistan

    Yes, Akbar was more Naseeruddin Shah and not even one bit of Hrithik Roshan

    Yes, Akbar was more Naseeruddin Shah and not even one bit of Hrithik Roshan

    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • All
    • Books
    • Cinema
    • Food
    • Health
    • Lifestyle
    • Satire
    • Sports
    • technology
    • Travel
    Bholaa movie review

    ‘Bholaa’ movie : True Review

    Siddharth Roy Kapur Bollywood

    Siddharth Roy Kapur has predicted the future of Bollywood and it makes a lot of sense

    EV Charging Stations

    India’s Push for Electric Vehicles: Boosting Infrastructure with 7,432 Charging Stations

    Top 10 Strangest Lakes in the World

    The Enigmatic Wonders: Top 10 Strangest Lakes in the World

    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
No Result
View All Result
Tfipost.com
No Result
View All Result

HOME » Politics » Trending » Chandrababu Naidu’s Telugu Desam Party promises a minimum income of Rs 2 lakh to each family every year if voted back to power

Chandrababu Naidu’s Telugu Desam Party promises a minimum income of Rs 2 lakh to each family every year if voted back to power

Amit Agrahari
by Amit Agrahari
7 April 2019
in Trending
0
income , tax

(PC: The Hindu)

1.4k
VIEWS
Share on FacebookShare on Twitter

N Chandrababu Naidu, the president of Telugu Desam Party has gone a step ahead of Rahul Gandhi in promising freebies to the people to win the election. In the manifesto for the 2019 general election, the party promised Rs 2 lakh to each family every year. The amount of money Naidu promised is almost three times to that promised by Congress president.  “Nobody can match us in extending such largesse even in imagination,” said Naidu, the incumbent chief minister of Andhra Pradesh. The scheme of Naidu is universal in contrast with NYAY which will target only 20 percent of poor families.

The scheme would cost Rs 54 lakh crores which is almost 28 percent of country’s GDP. This amount is close to combined expenditure of central government and state governments which is around 60 lakh crore rupees. The parliamentary and assembly elections are being conducted simultaneously in Andhra Pradesh.  The two major parties of the state- Naidu led TDP and Y S Jaganmohan Reddy led YSR Congress has promised freebies to electorates. The parties promised 30-45 lakh free houses and waiver of loans on existing houses. The scheme would cost around 40,000 crore rupees. There are many other schemes for farmers and poor people.

Both parties plan to increase the taxes on middle class and corporates to fund their freebie distribution schemes. However, even after a tax increase, the promises are irrational and impractical to implement. If the TDP government comes to power and implements the scheme, the space for expenditure on defense, infrastructure and domestic security would get squeezed to a minimum. The spending of other social and economic welfare schemes like subsidies, health, and education would also shrink in huge amounts. If parties like TDP, YSRC, or Congress come to power, the economy and national security of the country would be compromised.

Recently, Sam Pitroda, one of the most powerful people in the Congress party, admitted that the burden of the NYAY scheme will fall on the middle class. When asked whether taxes will not go up and whether the middle class will be affected by it, Pitroda said, “Taxes may go up but I do not think that’s a major issue”. Earlier, economist Abhijit Banerjee, the brain behind Congress’ NYAY scheme had admitted that the taxes on middle class would increase to fund the scheme. In an interview with Rahul Shivshankar of Times Now, he categorically said, “No NYAY without tax increase.” In another interview with Rajeev Dubey of Business Today he said that there is scope for direct as well as indirect tax increase. When Banerjee was asked what taxes should increase and what are the new taxes that can be imposed, he said, “Income taxes. In principle, there’s scope for wealth taxation and in some sense there’s scope for increasing GST.”

The burden to finance basic income schemes would fall on middle class. Thomas Piketty, the person behind income transfer scheme recommends a top income tax rate of 80% and a next-to-top income tax rate of 50 to 60% to increase the tax to GDP ratio. These schemes are regressive in nature and would be harmful for growth of the economy in this country. Currently, India is the fastest growing economy among major economies of the world but its productivity would fall significantly if any such scheme is implemented.

Tags: income distributiontax burdenTDP
Share1676TweetSend
Previous Post

Myth busted, PM Modi’s travel expenditure is significantly less than that of Manmohan

Next Post

The mystery of ‘artists’ against the Modi government and their inability to count

Amit Agrahari

Amit Agrahari

Engineering grad but Humanities and social sciences are my forte. Avid reader of religious Scriptures (Especially Hindu), Lord Shiva devotee

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms of use and Privacy Policy.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

  • Most Read
  • Comments
  • Latest
Xi Jinping, coronavirus, Shinzo Abe, china, Japan, coornavirus, COVID-19, Wuhan Virus

‘Pack up and get out of there,’ Japan to spend $2.2 billion to get Japanese companies to exit China

9 April 2020
ajay devgn karan johar

The man who bullied the Bully – How Ajay Devgn made Karan Johar’s monopoly a joke and forced him to apologize

22 June 2020
Huawei, China, Trump, USA, Xi Jinping

‘Our survival is at stake now,’ Chinese Telecom giant Huawei crumbles after US ban on Semiconductor exports

19 May 2020
T-Series Sonu Nigam Divya Khosla Kumar Bhushan Kumar

T-Series forced to take down Atif Aslam’s video, Divya Khosla trolled. T-Series has a bad day in office

25 June 2020
Meat Ban

A Jain responds to Meat Ban in Mumbai

Public Sector Bank, Government, Bill

Dear bank employees, continue your stride but PSBs will be privatized

anti-Hindi

Anti-Hindi Forever?- In search of a National Language!

Dear Liberals – your Beef Parties are not protests, they just intend to displease the Majority

Dear Liberals – your Beef Parties are not protests, they just intend to displease the Majority

Digvijay is not Congress; Congress leaders are not Congress; then who represents Congress? convicted Rahul Gandhi?

Digvijay is not Congress; Congress leaders are not Congress; then who represents Congress? convicted Rahul Gandhi?

31 March 2023
Bhutan PM statement

Bhutan’s unfortunate statement on Doklam stalemate

31 March 2023
The cat and mouse game between the Indian government and Zakir Naik, and why Naik is winning

The cat and mouse game between the Indian government and Zakir Naik, and why Naik is winning

31 March 2023
Balochistan India

Nehru’s Historic Blunder: Why Balochistan Remains Disconnected from India

31 March 2023

Popular This Week

Priyanka Chopra
Cinema

Priyanka Chopra is often off the mark, but this time she has hit the bull’s eye

by Paurush Gupta
29 March 2023
Yami Gautam
Cinema

Why Yami Gautam should get films more often

by Sabita Mishra
28 March 2023
Physics Wallah controversy
Opinions

Physics Wallah controversy: The day Alakh Pandey decided to become an internet sensation is the day Physics Wallah died

by Shubham Bajpai
30 March 2023
Rahul Gandhi
Analysis

A bigger conspiracy lies behind Rahul Gandhi’s ouster

by Paurush Gupta
27 March 2023
Renuka Chowdhury will file a defamation case against PM Modi
Opinions

A point-by-point rebuttal on Renuka Chowdhury’s rants

by Paurush Gupta
26 March 2023

©2023 TFI Media Private Limited

  • Terms of use
  • Privacy Policy
  • Sitemap
No Result
View All Result
  • Premium
  • Politics
    • Analysis
    • Opinions
    • Trending
  • Economy
    • Business
    • Finance
  • Defense
    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
TFI Official Merchandise
TFI हिन्दी
TFI Global
  • About us
  • Careers
  • Brand Partnerships

©2023 TFI Media Private Limited

Follow us on Twitter

and never miss an insightful take by the TFIPOST team

Follow @tfipost