Budget for whom? asks CPI(M)

CPIM general secretary Sitaram Yechury on Tuesday questioned the government on the purpose of Union Budget 2022 and asked why the wealthy have not been taxed further.The budget, presented by Finance Minister Nirmala Sitharaman, does not tinker with personal income tax rates. Why are those who amassed super profits during the pandemic, while joblessness, poverty hunger have grown, not being taxed more Yechury asked in a tweet.

CPI(M) general secretary Sitaram Yechury on Tuesday questioned the government on the purpose of Union Budget 2022 and asked why the wealthy have not been taxed further.

The budget, presented by Finance Minister Nirmala Sitharaman, does not tinker with personal income tax rates. It also does not raise the standard deduction, which was widely anticipated in view of elevated inflation levels and the impact of the pandemic on the middle class. ''Budget for whom? The richest 10% of Indians own 75% of the country's wealth. The bottom 60% own less than 5%. Why are those who amassed super-profits during the pandemic, while joblessness, poverty & hunger have grown, not being taxed more?'' Yechury asked in a tweet.

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