Only 42,800? That’s rich! - The Hindu

Only 42,800? That’s rich! - The Hindu
As always, excellent analysis by Gurumurthy. Now that, based on his perception and information he thought correct, FM has revealed there are ‘only’ 42,800 persons in India who admitted to a taxable income exceeding Rs1 crore per year, let us help him to take the issue forward. As privacy and secrecy issues will prevent FM from giving out the names of these 42,800 persons, he should arrange to prepare a district-wise list of these individuals and provide to each District Magistrate/Collector the number (only the number) of rich people in the respective districts who have annual income exceeding Rs1 crore. Collectors should be asked to make ‘discreet’ enquiries and report ‘who’ these persons could be and who all are likely ‘omissions’ in the list. Quite possible, GDP may not grow at the expected growth rate, but, next year (2014), FM will be able to give a decent six-digit figure against the 42,800 he included in the current Budget Speech.


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