{"id":32673,"date":"2013-01-24T10:56:14","date_gmt":"2013-01-24T08:56:14","guid":{"rendered":"http:\/\/www.nationalturk.com\/en\/?p=32673"},"modified":"2013-01-24T10:56:14","modified_gmt":"2013-01-24T08:56:14","slug":"rich-should-pay-more-taxes-indian-finance-minister-32673","status":"publish","type":"post","link":"https:\/\/www.nationalturk.com\/en\/rich-should-pay-more-taxes-indian-finance-minister-32673\/","title":{"rendered":"Rich should pay more taxes: Indian Finance Minister"},"content":{"rendered":"
\"Indian
Indian Finance Minister P Chidambaram. File Pic<\/figcaption><\/figure>\n

Indian Finance Minister P Chidambaram has said rich people of the country should pay more taxes.<\/h1>\n

New Delhi, Jan 24\/Nationalturk- In what could not be termed as a good news for rich in India, Indian Finance Minister P Chidambaram has said rich people of the country should pay more taxes.<\/p>\n

\u201cThe tax rates in India were announced in 1997 and these have remained the same and have survived four governments and four finance ministers,\u201d Chidambaram told CNBC.<\/p>\n

Stating that he believes in stable tax rates, he said, \u201cI must concede that there is an argument that when the economy requires, government requires more resources, the very rich willingly should pay a little more. That is not to say that tax rate should not be stable.\u201d<\/p>\n

\u201cI think we should have stability in tax rates but we should consider the argument that very rich should be asked to a pay a little more on some occasions but that is not the view I am expressing. That is simply the argument I have heard and I am repeating,\u201d he said.<\/p>\n

India’s rich can\u2019t treat extreme wealth as personal wealth<\/h2>\n

India\u2019s business tycoon and Wipro chairman Azim Premji has told NDTV that India’s super-rich cannot treat extreme wealth as personal wealth.<\/p>\n

Calling for higher consciousness among India’s wealthy, he said in a poor country, there is a legitimacy in taxing the super-rich.\u00a0 “Wealthy people should consider it as part of their obligation … the more they think so, the longer they are going to survive in their positions. Otherwise, the forces of socialism will overtake them,” added Premji, one of the richest men in India.<\/p>\n

Indian Prime Minister\u2019s economic advisor C Rangarajan has also pitched for higher rates of taxes for super rich. \u201cOne need not disturb the structure of Income Tax system in the country as it is now. However, we should add a surcharge for income above particular level. The government needs to raise more revenues and the people with larger incomes must be willing to contribute more\u201d.<\/p>\n

Rangarajan, who is an economic expert, had said the forthcoming Indian budget could look at imposing surcharge on income above a threshold.<\/p>\n

 <\/p>\n

Write your comments and thoughts below<\/em><\/p>\n

Faiz Ahmad \/ NationalTurk India News<\/strong><\/p>\n

 <\/p>\n\n

<\/h1>\n","protected":false},"excerpt":{"rendered":"

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