Jairam Ramesh Criticizes BJP Government Over Tax Burden on Middle Class
Congress leader Jairam Ramesh has criticized the BJP-led government, highlighting that individuals are paying more taxes than companies. He noted that from April 1 to July 1, 2024, personal income tax collections were Rs 3.61 lakh crores, while corporate tax collections were Rs 2.65 lakh crores.
Ramesh pointed out that during former Prime Minister Manmohan Singh’s tenure, personal income tax was 21% of total tax collection, while today it has risen to 28%. Meanwhile, corporate tax on companies has fallen from 35% to 26%.
He also criticized the 2019 move to reduce corporate tax rates, stating that it did not trigger the expected private investment boom. Instead, private investment has fallen from 35% under UPA rule to under 29% today. Ramesh emphasized that the corporate tax cut has put over Rs. 2 lakh crore in the pockets of billionaires, while the middle class continues to bear the weight of heavy taxation.
