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Indians on The Move
New estimates based on railway passenger traffic data reveal annual work-related migration of about 9 million people, almost double what the 2011 Census suggests.
Biases in Perception
China’s credit rating were upgraded from A+ to AA- in December 2010 while India’s has remained unchanged at BBB-. From 2009 to 2015, China’s credit-to-GDP soared from about 142 percent to 205 percent and its growth decelerated. The contrast with India’s indicators is striking
New Evidence on Weak Targeting of Social Programs
Welfare spending in India suffers from misallocation; the districts with the most poor are the ones that suffer from the greatest shortfall of funds in social programs. The districts accounting for the poorest 40% receive 29% of the total funding.
Political Democracy but Fiscal Democracy?
India has 7 taxpayers for every 100 voters ranking us 13th amongst 18 of our democratic G-20 peers. India is far from being a full tax-paying democracy with about 5.5 per cent of the people who earn paying tax and only 15.5 per cent of the net national income being reported to the tax authorities. The tax to GDP ratio at 16.6%, as a result, is well below that of the emerging market economies of 21 per cent and OECD average of 34 per cent. India is the only large economy with an income tax exemption threshold that is 2.5 times the average national per capita income. In most countries, including in emerging economies such as China, Brazil and Argentina, anyone earning more than half the average national income falls under the income tax bracket. India has increased the income tax exemption threshold on seven occasions, from ?40,000 to ?2.5 lakh in the last two decades. Contrast this with China, where the exemption threshold has just doubled from 10,000 yuan to roughly 20,000 yuan in the same period even though average incomes grew much faster in China than in India. If India lowers its income tax exemption to, say, ?1 lakh from the current ?2.5 lakh to be more in line with the rest of the world, nearly 1.5 crore more Indians will fall under the tax bracket. To be clear, such a move will not fetch any meaningful extra tax revenues for the government but will merely bring more people into the tax bracket. It is thus misleading and specious to conclude that India’s small number of taxpayers is entirely a result of some genetic and cultural trait of dishonesty of Indian society at large.
India's Distinctive Demographic Dividend
India’s share of working age to non-working age population will peak later and at a lower level than that for other countries but last longer. The peak of the growth boost due to the demographic dividend is fast approaching, with peninsular states peaking soon and the hinterland states peaking much later.
India Trades More Than China and a Lot Within Itself
As of 2011, India’s openness - measured as the ratio of trade in goods and services to GDP has far overtaken China’s, a country famed for using trade as an engine of growth. India’s internal trade to GDP is also comparable to that of other large countries and very different from the caricature of a barrier-riddled economy. Divergence within India, Big Time
Spatial dispersion in income is still rising in India in the last decade (2004-14), unlike the rest of the world and even China. That is, despite more porous borders within India than between countries internationally, the forces of “convergence” have been elusive. Property Tax Potential Unexploited
Evidence from satellite data indicates that Bengaluru and Jaipur collect only between 5% to 20% of their potential property taxes.
By: Vishal ProfileResourcesReport error
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