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Dec - Growth & Development - Coggle Diagram
Dec - Growth & Development
GI TAG
UP
Gorakhpur terracotta
Rising Fuel taxes
fuels
not under GST
tax increase
cascade into higher prices of everything
Higher inflation
prevents central bank
from lowering interest rates
Curtailing growth
depresses jobs
incomes and welfare
thus inhibiting growth
share of indirect taxes
net of subsidies in GDP goes up
hurting consumption in a year
poor already
struggle to maintain
their consumption
Way Ahead
Bring Petro Fuels
a universal input
under GST
prevent tax on tax
to price of goods and services
govt
must strike balance
as raising taxes on fuels
pushes up
retail prices
put a squeeze
on real consumption of fixed income earners