Days of the Dynasty :
Income Tax Slabs during Indira Gandhi times
For 10 lakhs income , Tax was 9.33 Lakhs
For 5 Lakhs income the Income tax was 4.45 Lakhs
Meaning whatever you earned it belongs to government
This was the foundation of Black money generation.
Over and above there was also wealth tax @ 8% and then there was estate duty levied on the dead persons assets.
Average inflation rate during Indira Gandhi's 15 year tenure was 20%.
Bank Interest rates were 18%
That is how the Nehru Gandhi Dynasty ruled. That is why they installed just 16 GW power in first 30 yrs of rule. Everything got taxed. No jobs after passing out. People looked to get scholarships & go abroad. 7 years wait to get scooter, telephone, gas, phone.
I would rather be unemployed & depend on govt doles than pay this much tax at highest slab. Explains why there was no incentive to work hard, earn more. A negative incentive if you worked hard and earned more. Golden Era indeed, explains why sarees & lungis could fetch votes.
And we always thought things like economic crisis, unemployment, inflation, food-grain shortage were non-existent during those golden Congress rule days.
Didn't all these things happen only after
Modi became PM in 2014 ???
Income Tax Slabs during Indira Gandhi times
For 10 lakhs income , Tax was 9.33 Lakhs
For 5 Lakhs income the Income tax was 4.45 Lakhs
Meaning whatever you earned it belongs to government
This was the foundation of Black money generation.
Over and above there was also wealth tax @ 8% and then there was estate duty levied on the dead persons assets.
Average inflation rate during Indira Gandhi's 15 year tenure was 20%.
Bank Interest rates were 18%
That is how the Nehru Gandhi Dynasty ruled. That is why they installed just 16 GW power in first 30 yrs of rule. Everything got taxed. No jobs after passing out. People looked to get scholarships & go abroad. 7 years wait to get scooter, telephone, gas, phone.
I would rather be unemployed & depend on govt doles than pay this much tax at highest slab. Explains why there was no incentive to work hard, earn more. A negative incentive if you worked hard and earned more. Golden Era indeed, explains why sarees & lungis could fetch votes.
And we always thought things like economic crisis, unemployment, inflation, food-grain shortage were non-existent during those golden Congress rule days.
Didn't all these things happen only after
Modi became PM in 2014 ???
Why KCR,CM of Telegana,is angry with Modi?
KCR led a revenue rich state into a debt trap. For the reasons well known to him and his son he raised huge loans from world bank.
From approximately, 70,000 crores in 2014 to 2.86 lakh crores in 2021, around 2 lakh crores debt was added at an average of 30,000 crores every year. Around 100 crores every day.
KCR is charging, tax of 70 % on liquor which is completely under state control to meet those debts.
The world bank loans are sweeter than any thing while borrowing and become a nightmare when the repayment date approaches.
People get tempted by world bank loans not for their soft interest but for the commission they get from it. KCR got around 2 lakh crore as commission. If he defaults on payment he will close the commission and this will be adjusted against the loan repayment. KCR is in a fix now due to this.
KCR tried to shift the burden of repaying the loans of world bank at least a major portion to the center by asking Modi to declare atleast Kaleswaram project as national project so that the entire burden of repaying the loan goes to center.
Modi refused to fall into the trap.
That is why KCR is angry with Modi and trying to unite opposition parties with meetings… to frighten BJP🤣
Sher ke samne billi ...
Baap beta Khan dan.owaisi has control of TRS car steering.
KCR led a revenue rich state into a debt trap. For the reasons well known to him and his son he raised huge loans from world bank.
From approximately, 70,000 crores in 2014 to 2.86 lakh crores in 2021, around 2 lakh crores debt was added at an average of 30,000 crores every year. Around 100 crores every day.
KCR is charging, tax of 70 % on liquor which is completely under state control to meet those debts.
The world bank loans are sweeter than any thing while borrowing and become a nightmare when the repayment date approaches.
People get tempted by world bank loans not for their soft interest but for the commission they get from it. KCR got around 2 lakh crore as commission. If he defaults on payment he will close the commission and this will be adjusted against the loan repayment. KCR is in a fix now due to this.
KCR tried to shift the burden of repaying the loans of world bank at least a major portion to the center by asking Modi to declare atleast Kaleswaram project as national project so that the entire burden of repaying the loan goes to center.
Modi refused to fall into the trap.
That is why KCR is angry with Modi and trying to unite opposition parties with meetings… to frighten BJP🤣
Sher ke samne billi ...
Baap beta Khan dan.owaisi has control of TRS car steering.
'The Wire' had published fake articles defaming Bharat Biotech n Covaxin. In a 100 CRORE defamation case filed by BHARAT BIOTECH, Andhra Court ordered taking down of 14 articles on 'The Wire' and restrained
1) THE WIRE
2) Siddharth Vardarajan
3) SR Bhatia
4) M.K. Venu & others
From publishing DEFAMATORY articles relating to BharatBiotech.
Founder of 'The Wire' is a US citizen, Siddharth Vardarajan, he was lobbying for Pfizer n Moderna vaccines. Donors should be aware of fraud Leftist Propaganda house 'The Wire'.
1) THE WIRE
2) Siddharth Vardarajan
3) SR Bhatia
4) M.K. Venu & others
From publishing DEFAMATORY articles relating to BharatBiotech.
Founder of 'The Wire' is a US citizen, Siddharth Vardarajan, he was lobbying for Pfizer n Moderna vaccines. Donors should be aware of fraud Leftist Propaganda house 'The Wire'.