Is India’s Growth Story Benefiting Only Big Capital?
K-Shaped Growth: Economic recovery shows wealth concentration among the rich, while the lower half remains stagnant.
Growth is driven by large corporations, especially in infrastructure, sidelining small-scale industries
High compliance costs and unfavorable borrowing rates hinder small enterprises' competitiveness.
Large corporations enjoy lower effective tax rates compared to small and medium businesses.
Policies like demonetization and GST have disproportionately harmed small businesses.
Reducing regulatory burdens and improving credit access is crucial for supporting small businesses.
Calls for either uniform tax rates or progressive taxation to alleviate burdens on smaller firms.
Simplifying GST compliance and adopting cash flow-based lending can help smaller businesses thrive.
Strengthening small businesses is essential for a resilient and equitable economy.
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