Thursday, January 25, 2024

An Indian Magna Carta.

As the general election (wikipedia) approaches rapidly, "Urban Indians are increasingly concerned about rising inflation and job security, including fears of layoffs, as per the Kantar India Union Budget Survey 2024." Mint. "57% of Indians are worried about rising inflation, a significant increase from 27% in 2023" and "one in three Indians anxious about potential layoffs". Fun and games have started already. "Delhi's Chief Electoral Officer has issued a clarification on the date of 2024 Lok Sabha Elections. Confusion arose, after a notification by the Election Commission of India had informed 'tentatively given the Poll Day as April 16, 2024...for the purpose of reference and to calculate Start and End dates in the Election Planner'." Mint. Political parties are under starters orders (Encyclopedia) and operation 'Neutralise the Opposition' may begin. "Besides the orchestrated carnival around the inauguration of the Ram temple at Ayodhya, there is speculation in political circles that two chief ministers and a deputy chief minister may soon be arrested," wrote Bharat Bhushan. "The recent arrests of state government ministers in Delhi and Tamil Nadu have not been successful in getting any relief from the courts." Taxes on goods and services are a very big reason for rising prices. The Goods and Services Tax (GST) was supposed to reduce taxes paid by Indian consumers by getting rid of cascading effects of various taxes imposed by the central and state governments but instead it seems to have become a temptation to maintain a high rate of consumer price index (CPI) inflation to augment government revenue. From September 2019, when it was exactly at 4.0%, till December 2023 (RI), the CPI inflation rate has been consistently higher than the government target of 4% (ET). Consequently, GST collections have risen from Rs 215.72 billion in July 2017, which was the starting month, to a high of Rs 1.87 trillion in April 2023. wikipedia. From an annual average of Rs 822.94 billion in 2017-18 it has skyrocketed to an expected Rs 1.664 trillion in 2023-24 (1 April-31 March). The other direct contributor to rising prices are the rising tolls charged on so-called national highways which are little more than ordinary 4-lane roads, "rising from Rs 177.59 billion in 2015-16 to Rs 480.28 billion in 2022-23" and is expected to reach Rs 1.3 trillion in 2030. The number of toll plazas shot up from 145 in 2014-15 to 959. Mint. Tolls are charged on all trucks which add to the cost of all goods, including food articles. We are already paying huge taxes on cars and fuel. GST, plus cess, on cars rises from a total of 29% to an extortionate 50%. SIAM. In addition, states levy road taxes which vary from state to state. For individuals, Road Tax in Delhi varies from 5% to 12.5%. CreditMantri  "Petrol tax in India consists of 55% of petrol's retailing price while diesel tax is 50% of the fuel's retail value." Cleartax. Just because they have been elected by whatever means politicians should not have the right to do whatever they want. Movement from one part of the country to another is our fundamental right. We need a Bill of Rights for Indian citizens, as in the US, as well as an Indian Magna Carta (wikipedia) which lays down a ceiling on what taxes the government can impose. Respect.

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