How could we have been thinking that the proposals for tax reforms would go through in their entirety?? The same set of people who voted for themselves to get hikes… even went through the charade of going on strike are the people who ensured that the common man does not get any significant tax benefits. After all the common man has to give money which would pay their salaries! Approx Rs. 37 lakhs per Member of Parliament into 500+ MPs… about 180 crores+. That’s a lot of money to be accounted for considering that only single digit population of this country actually pays the income tax. So they had to make modifications in the proposal and let the man on the street suffer rather than curtail all the freebies of the elected representatives…And not to forget that every state assembly would also want to increase salary and perks for their MLAs!
- Direct Taxes Code Bill gets Cabinet nod (thehindu.com)