Rakesh Jhunjhunwala finally bought new clothes on Diwali

01 Nov 2013 / 0 Comments

After some relief from recent stock market rally, big bull investor finally decided to buy new clothes on Diwali. According to sources, he lost all his clothes as his portfolio took a big hit in a big carnage in Indian stock markets that came by July end to August end this year. "Now I am ha

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Published On:Thursday, 22 August 2013

P Chidambaram asks urban middle class to pay ‘Living In India Tax’

India's Finance Minister P Chidambaram said that the government will introduce 'Living In India Tax' (LIIT). The tax will be slapped on urban middle class, which anyways has no say in politics and government affairs, told P Chidambaram to reporters.

"Why don't they pay tax for living in India when such prosperous country they have for their residence? Look, you are not rich or poor, and therefore you have no fundamental right to live here for free of cost and that we think is final and justifiable," said P Chidambaram who is also thinking on charging tax on middle class voters who vote in the elections.

P Chidambaram was answering the queries of reporters on viability of food security bill in the current context of Indian economy. The reporters were arguing him with the added burden on Indian middle class.

"See the idea is simple, you will have a say in policies when you are either poor or rich. Rich have no issues if we put some additional tax burden on them.  They can earn by chewing middle class people. We then screw middle class and a bit rich people and pass the bucks to poor. So there is nothing left for middle class. Therefore, I would like to tell Indian middle class that till today you have enjoyed a free ride in the economy but now you have to ease your pockets to pay LIIT," said Chidambaram.

Indian middle class yet to react to P Chidambaram's idea of bringing LIIT, as its representative is mute and dumb.




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