June 27, 2021

Fiscal fires ravaging family budgets

In this article, Shankkar Aiyer talkes about the rising cost of living and visible angst against it.

Excerpts below:

"The angst is visible in bazaars and audibly vocal in living rooms and WhatsApp family calls. It is a common factor in RBI’s surveys and voter opinion polls. The rising cost of living has led to the depletion of optimism as families struggle to make the proverbial ends meet in a landscape of pay cuts, pink slips and unemployment."

"Yes, a developing economy needs resources to fund infrastructure and spur employment. Who should pay the fair share is not about morality but pure economics. Dollar billionaires have recorded stunning gains in wealth. Companies reported record revenues and profits to bourses boosting stock indices to new highs. Yet, corporation tax collection was lower than taxes on income."

Read the full Article here.

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