CH:4 blog Tax revenue to grow 18.5% to Rs 9.3 lakh cr

article: http://www.business-standard.com/india/news/tax-revenue-to-grow-185-to-rs-93-lakh-cr/127333/on

summary :
This article tells us about how tax revenue in India increased by 18.5% to meet at Rs 9,32,439.88 crore. Finance Minister Pranab Mukherjee stated that he estimated that the direct tax revenue will be at loss of Rs 11,500 crore for the year. In return, proposals for indirect taxes are estimated to result in a revenue gain of Rs 11,300 crore. This is because the increase in income tax slabs will reduce revenue. But the expansion of the service tax will have the opposite effect in indirect tax.

connection:
The revenue in India increased by 18.5% which indicates that the people in the country have been spending a lot of money.  This indicates that the direct tax is increased which causes us to reflect on how the Indians are living through this high tax rate. The government is increasing tax to help their funding on things such as cancer research, school fees and many more. This reflects back onto the citizens of India and makes us wonder if this really helps the people in a good way.

reflections:
This surprises me because i expected that tax revenue would increase but I never imagined that it will increase by 18.5%. This number is an accountable number considering that it is a huge amount of revenue increase since last year. This makes me wonder how the people in the country live through this high tax rate. I don't think India should increase the tax because it only makes it harder for the peo.ple in India to support their family