"Abolish income tax, lower excise taxes": Dr Subramanian Swamy's advice to FM ahead of Budget 2025
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- Опубликовано: 5 фев 2025
- #subramanianswamy #budget2025 #thinkeduconclave2025
Former Union minister and renowned economist Dr Subramanian Swamy sits down with TNIE and gives his unabashed opinions on a variety of topics which include the economy of India, Budget 2025 and Trump-Modi relations.
Video Producer: Alan John
Video Editor: Immaya
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Abolishing Income Tax will remove Black money, boost consumption and bring down the prices of real estate. This will be more than compensated with GST. Its the biggest win for all
Without the progressive taxation the gap will even expend, the social mobility will be elite's heaven. Who are all paying tax? Which portion of population? The percentage?
India already qualified to impose wealth tax. Just 5 percentage of population swallowing 90% of wealth. The reduction in GST rates is the way forward to boost consumption and creating employment.
More money in market …will it not increase inflation ?
And there will be unicorns roaming around the world of course
If u hear such mad men , u will definitely say it...Stay away is my suggestion from such useless fellow...
Abolishing direct income tax is not good for Indian nationals and their families. Indirect taxes don't have consistencies. For every Indian family every month ration civil supplies, water, electricity, health care had to be provided by any state or central government cannot deny that. For standard necessities a standard consistent tax revenue had to be generated. Right now in india 10 percent of the population is feeding 90 percent of the population through direct taxes. This instability in direct taxation is being unquestioned for the past seventy five years. Today an unorganised sector labour earns more than thirty thousand a month do they have ever contributed any direct tax to this country. Instead they are being given freebies continuously by these politicians and a big financial crisis is awaiting in all our states. Direct taxation is one of the primary foundations of the Indian state.
We pay taxes while earning
We pay taxes while spending.
We pay taxes when we are saving too.
There is no escape route.
Hence we suffocate.
The economy too suffocates with us.
A suffocating person or economy cannot run.
@nandabhavaraju1201
"We pay taxes [...] economy cannot run."
=====================================
So what?
We are getting more and more temples, -India- Bharath is getting restored to its greatestestest annnnncient glory under the rule of the greatestestest 56 inch chest-man since 26-May-2014.
@@yevodee4024do bajan of Godiand popcorn too. Suffocation is because of the hard hit on stomach in the name of taxes. They won’t come to our rescue during our old age. Sucking our hard earned money for the sake if freebies.
Correct
We get what we voted for 😅
Pro Modi bhakts will not like him.
I'm pro Modi and I like him and agree 100% with him.
But according to him sonia Gandhi was call girl and Rahul Gandhi is Rahul vinchi what about that you self proclaimed intellectual
This eunuch is Modi's puppet. Purposely trying to portray himself as Modi's enemy..
He himself was a pro modi Bhakth. He didnt get any ministeral position. Now he is Barking against modi. 🤣🤣😂😂
Know this guy's history before calling names
When we are paying GST why should pay income tax?
Exactly, it may amount to Double Taxation. Nobody is asking this, even the so called Legal Experts
One is indirect tax and the other is direct tax..its prevalent across the globe except a few countries..the indirect tax rates need to be lowered and so should the direct tax rates but states and center don't want to do it because they are heavily dependent on it
@zest6932 Look at it fom this angle. I am a Service Provider. I give service to my customer. In my bill O charge my service Fees and a percentage of it as GST My customer pays me my Fees and the GST. The GST goes to the Government whereas the Fees comes to my pocket. But I have to pay Income Tax on the Fees earned by me which is ince again a percentage of my Fees earned. So, the Government is now getting paid twice on my Service Transaction, the only difference being, one payment is being made by my customer as GST and another payment being made by me towards my Income Tax. My question now is, when I pay Income Tax on my fees earned, why cant the GST paid by my customer be taken into credit and adjusted against the Income Tax payable by me. Or alternately, if I pay GST for some other unrelated transaction, why cant the GST paid by my customer be taken into account and credit be given and adjusted against the GST payable by me? What is so inequitable about this adjustment between the a GST and Income Tax arising out of the same transaction or the adjustment between two different GSTs concerning the same person? I think denying this Claim for Adjustment is inn violation of Article 14 guaranteeing equal treatment by law.
The standard deduction should be significant enough that should offset the effect of gst on goods and services
@@zest6932Get rid of the text book knowledge. We all know the difference. As a practical thing Govt need tax to run the country and maintain institutions which are free for public btw all institutions are pathetic and absolute no maintenance why should we pay Income tax when tax is collected as GST ? if they do want to get direct tax take it from people earning above 5 Cr.
The real question we should be asking is how the hell did Singapore and Dubai got ahead of us ? They once had dust while we had enough infrastructure from British and corpus in treasury while those countries rose from dust? It’s all about people who implement it in right way and even now we’ve got pathetic leaders in this country.
Modi's insecurity and jealousy is the main reason why Middle-class is suffering today. He should pay heed to Dr. Swamy’s suggestions on economy.
his suggestion is baseless and totally flawed...by removing income tax the situation would worsen and the lower middle class ,middle class would be finished by inflation and rising gst rates.
@@raunak5965 when corporate tax can be reduced , why can income tax be abolished ? Government can increase corporate tax again na..
Sad what happened to sister kamala harris😂😂 hope auntie and uncles still praying for her in her village temple .. should let the rajapakshas rule india ....they very good at counting money 😂😂 ..tell lord Rahul Gandhijee to give more lecture in Oxford about his great family ....
All politicians kids left india.
His kid is serving India through the most powerful tool... Journalism in its best quality
@@shanmugamtp3751koi ehsan nahi kar diya if he's serving the country, likewise the rest of the population is also serving the country.
all businessmen kids born in america
That amounts to 18000 🤔
Dr. Swamy ," Champion Of My Bharat " .
Dr Subramanian Swamy sir, we wish you to become a finance minister soon. Really we are missing a knowledgable person in finance.
He makes lot of sense on this topic.
0 sense
remove income tax and set a limit on registration fee for property. black money will instantly disappear
We need educated leaders like Mr. Swammy.. wat he said is 100% correct, income tax is killing people and only benefiting the rich politicians
Damn. The questions are so lame. You brought to the show, an economist who can share so many ideas to people from his experience and asking questions like, who is you favorite PM, what is your favorite ice cream.
Pm modi was asked same question 😂😂😂
Exactly. Dumb questions.
Questions were brilliant &
well framed.
Dr. Swamy for PM
True, today Central Government gets funds from GST, Fastag & other multiple sources, hence Income Tax must be reduced or eradicated if else WE ARE FOLLOWING DUAL TAX SYSTEM as Employees pay both Income Tax as well as GST for all goods & service's consumed. For Petrol we pay a lot as well.
We need FM as Subramanya swamy
This man has got guts!! Whether what he says s right or wrong....he takes a stand😊
Very well said
Swami is very brilliant fellow
Yes he got Phd in Harvard @24 no man acheivement
The Only Man who is still allowed to talk like this without any criticism, And get passed the the Radar of National interest. Woww!
The interviewer is very good.
You need better interviewers, who have not been given a list of questions, those who can do followups on so many interesting perspectives Dr. Swamy is giving - and so longer form than 8 min.
This Subramanian fellow comes across as a petty and envious man. When the anchor asked him two questions, his responses were telling.
1. When asked to share a fond memory of PM Manmohan Singh, whom he considered a dear friend, he simply dismissed him as a "weak man with no backbone."
2. When asked who was the best finance minister in India's history, the obvious answer should have been Dr. Manmohan Singh. Yet, instead of acknowledging this, Subramanian went off on a tangent about what should be done, avoiding a straightforward response.
This just proves that no matter how prestigious an institution like Harvard may be, it can't refine a man's character. His constant self-promotion-whether it's boasting about winning the Ram Mandir case or other achievements-only underscores his obsession with personal glory.
He ran away to USA during emergency.
Also he didn't win Ram temple case. Whatever gives him that idea. See who is the lawyer , see who are the petitioners. This clown was always a sepoy with hidden agenda.
People don't know his history..he is the principal of the hypocrisy university
@@jey3669 in case u didn't know he came back dressed as a sardarji and went into parliament and gave a speech like a lion against emergency right under indira gandhi's nose and escaped without being captured . That takes courage and intelligence . Pls know what u are talking about .
Dr. Swamy speaks the truth without mincing words . I think it's about time we indians accepted bitter truths for what they are without bull shitting ourselves . Dr. Manmohan singh was a good man and an intelligent man but he did not have the courage to defy sonia gandhi despite the fact that she was looting the nation left right and centre . This is what dr. Swamy is pointing out . Are u saying this was not true ?
Subramanyam swamy is absolutely right
Absolutely agree. Most middle East flourishing without income tax.
They're export oriented economy
They have natural resources like oil
Do we have oil ?
Phenomenon like him should always remain young, and vocal..At least once, he should be given a chance to take care of finance!
In india less than 10% of population pays income tax so abolishing it won't be beneficial to population at large
Only 3%🤪
yes reduce GST instead, which is being paid by everybody
Oh bro, not 10, it’s less than 3% who pay direct income tax.
hard working population will be benefited
most of them get the refund back and it should be around 3-4% or let's say 5%
if you you remove income tax consumption will grow, If i don't have to pay income tax i will save it or investin the economy or get loan and try to build my own startup or factory and produce jobs
but current govt is active like tax mafia!! they will take money from your hands instead of it getting indirectly investing in countries future
Very sensible thought worth considering to achieve economic growth and remove all connected ills of the economy viz black money , corruption , high inflation , fiscal deficit , lawlessness, etc . Budget and politics cannot be mixed . Professionals should handle budget, bureaucrats should administer , politicians should enunciate policies for good governance and welfare of the people in an equitable manner justifying the potential of the resources and their utilisation .
Excellent
OMG, these are kind of people who can go to any lengths for personal gains.
nope andhbakhts are the one who ride blindfolded on fake perception(because its ur godi baba's vote ideology) of religion and ride on a donkey forever closing everything including assholes to damage indian gains for gaining stupid personal image gains of one stupid brainwasher
Dude, I don't accept all his opinion but on income tax he is right. Either abolish tax for all or abolish printed currency and tax everyone.
@@tinguzz How will you fund the infrastructure projects?
@@tinguzz Govt is doing what they can do. They abolished the income tax till 12Lakhs. People think criticizing the govt as intellectual and looks cool.
Where they got this interviewer from????😂😂😂😂😂😂😂 That too to interview a Genius like Mr Swamy!
Sir your suggestions will benefit the Middle class people but the Unpard n FM want their policies to protect the rich n famous
🔥🔥🔥
Talent have No respect in india thats why SWAMY GOT NO POST
Sounds as though Mr. Swami had spoken to the anchor to ask him specific questions so that he could give readymade answers 🙂
Atleast he is giving an interview unlike modi who is so scared of facing the press.
Abolish income tax pl. Regional parties are giving impression that high price on petroleum products is central subject while thay are getting huge share of tax/ levy.
Scrap GST and introduce Empty land tax aka wealth tax and inheritance tax
when we have a popcorn FM, we cant expect any better output.
What Mr Swamy mentions from 5.00-5.15 is 100% accurate. our FM is not an elected representative and is only a puppet. Any self respecting individual would step down or pass the offer
💯👍
Manmohan sing is best economy minister of India
🎉🎉
I am wondering if Income tax rate is kept higher to curb inflation, unfortunately it also curbs the growth.
Why are they not using microphones ?
Full sapot
How to run country without tax?
Abolish income tax and increase gst
Very nice sir that you want to speak only the truth and you have the courage. Please tell us the Truth about RSS and why you support RSS
Our beloved & respected Modiji has done a grave mistake by Choosing Nirmala madam as Finance Minister..Honble Modiji must give direction to abolish incometax. Take an example , an army officer or Navy officer , while their working nature is very difficult task eventhough thay are IITians or postgraduates Thay have to sacrifice 30 % as Incomtax.While many of their collagemates are living comfortably in india or USA, thay have miserable family life. No income tax is the best thing Modiji can do for their sacrifice
Infact nirmala dance on the tune of modi
Heard it on one famous news channel that only 2.2% of population is paying income tax. Tax slabs are so high. Businessmen easily evade taxes using CA tricks. Rather government must come up with some revolutionary changes to earn from other ways where a large percentage of population is enrolled to have higher income and reduce the TDS burden on selected few.
they'll earn by increasing toll tax on everything
Trump will show aukat to modi
Audio of video is not good
TNIE,
You guys like whoever criticises Modi, his Govt and actions.
What are his responsibilities n accountability ? Anyone glib toothed can speak anything when you don't hold office from various portals and they like him bcoz he gives loud headlines & sensationalism. JUST A POMPOUS AND EMPTY VESSEL MAKING NOISE.
As regards Nirmala Sitharaman, was the FM who held the economy, steadied, stabilised and grew during the once in a century Pandemic. Of the large economies, India was the only country which grew - none talks about it.
Voice not clear, subtitles not working
Good Interview. First you make voice clear, voice is not clear
Audio quality is so poor... There is a constant jitter in the background that is annoying..
Is this wide variety of topics man.. 😂 thought the interview is about start and i lied down to listen 👂 in detail, the anchor just bombed with this "well, tganks sir. We discussed wide variety of topics" and ended. What is this man.😮 Its a quickie, 2 min instant noodles stuff. First time journo and first interview 😊
Is the mic off?
✅👍
Even though I am a supporter of current government and Modi. Dr. Swamy has a strong point, only salaried people will understand swamy's opinions. Middle class pay heavy income tax but get nothing. We struggle with highly appreciated real estate prices and inflation. There are huge amount of population which doesn't pay any tax but make huge amount of money. Abolish income tax in one go, or tax everyone, abolish printed currency. Get the bank details of everyone and tax everyone heavily :)
Why is your mic begging
Could have been a more detailed interview!
Taxes should be on savings but not on income.
Modi has no sense of shame..he micromanages all ministries
It's about investing in the foundation of anything you do.
Poor audio quality
Swamy is suffering from a wounded ego of being totally neglected by the ruling party
He has no mass support and he has the reputation of a back stabber
The frustration of being neglected is what prompts to talk
Modi is Modi and Biden or Trump endorsement does not matter at all for him
Rs150 crore value flats are being sold in Gurgaon who is buying? With avergae 3BHK cost going up 2 crore who are buying utter nonsense.
How long Modi Hinduthwa policy would exist!
It will run for decades to come, only 5-6 % of Indian population pay any meaningful tax. 90% people in the bottom never pay any tax, bottom 70% of the people live on some kind of subsidy . . . do I need to answer more? Subsidy and Hindu sentiment for bottom 70% of the people, work+emi+tax for middle class, Rich doesn't care who runs the government as both BJP and Congress are pretty much same economic policy wise. There you go. Number of people attending maha Khumbh should give you a idea on our people sentiment.
ironic based on surname saar
Bhakts are jobless. They are not worried about Income tax. Cos they dont have to pay tax.They keep on vote for him.
Introduce LAND VALUE TAX (LVT)
Introduce tax on the air we breathe as well. How about that?
Abolish income tax and reduce fuel tax by 50%. Focus on creating jobs. Find ways to reduce food inflation and cut subsidies.
Remove IT for working class or atleast tax who are earning more than 50 LPA, make Education free and publicise all Educational Instituions, provide healthcare to all at an affordable rate. Automatically poverty will come down and economy will improve.
Scrap GST as it is a regressive tax and every Indian bears it's burden especially middle and lower class & introduce Empty land tax aka wealth tax and inheritance tax which are progressive taxes and only those having taxable assets will pay
Yes swami abolish politicion and civil servant pencen as well.
Yes its important to abolish INCOME TAX. Also they send some auto generated emails from tax office . We pay income tax and also keep paying tax (GST) for everything we buy and hire services. THis is INSANE
I'm all for reducing taxes, but the moment he claimed that only 14% of government revenue comes from individual income tax, I lost interest. The real figure is closer to 30%. He should check the government's "Abstract of Receipts" before making public statements.
There's no denying that Nirmala S. is one of the most disliked women in India, with many blaming her policies for economic struggles and unpopular decisions. Her tenure has sparked widespread criticism, making her a highly polarizing figure in the country.
The quality of govt services we get is no where a close match to the amount of taxes we pay.
India Needs to abolish income tax.
US is also gonna abolish income Tax Soon
Tax terrorism
I don't think budget alone can fix the slowing growth issue.There should be some concrete policy changes which are pro healthy competition
There is no cure nor medicine for jealousy. It will be burning inside, this is worst and pathetic situation for anyone.
I thought Modi's lack of education is cause for stressed economy but later I noticed even educated people think alike in BJP. Later it is evident that BJP's ideology and development don't go hand in hand.
To Stimulate Economy --As SS says --Govt Should try to put more money in Public Pockets !! Reduce Income Tax to less than 15%
He needs to keep his soul in rest now RIP
No Modiji has to act on the IT tax issue the middle class families are suffering the most
restrict income tax only to politicians and bureaucrats and government servants so that corruption could be checked.... todays tax terrorism affects inly the common people...
Audio quality is pathetic...is this from Indian Express ?
We are so much income tax , which facilities are we getting for free ?
Govt should seek more sources of income than income tax ! Let middle class live ! Tax the super rich !
Bad audio
Manmohan Singh is a hero an well educated economist not a barking dog like this man he was the governor an prime minister swamy is only educated an criticising politician an chatukar of Modi
Abolish tax . Run country on the money donated by people. Where people donate money? Where else, temples . Develop temples and please the people with delicious prasada.
Budget 2025
No hope from hopeless Finance minister 😊
Once you abolish, you can never bring it back..SS's worst idea. Other countries having even higher taxes than India
Why did subramanyam swamy press to abolish incometax when congress was in power.
what a irony all of us who are less educated than him giving advices to him. I think you all are an economist in finance ministery.He is just telling some points not full plan so first ask in comment what is full plan to its implication precautions and many more
Poking a finger in american elections is a blunder by jaishankar and modi.
Can he kindly tell, USA, Japan, Europe....has income Tax or Not ? How they are now developed nation ?? Research, innovation, New developments only will develop a nation. Economics comes last....just Economics doesn't help a nation grow....
if being friendly with modi favors trump, he will forgive modi lol , Trump is very flexible.
Even the financial markets closest to money is lieing thats why people like me have to work harder and longer to live.
We will be soon back to those days people can hurt u physically and hurt themselves mentally in time