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Rich May Pay More Tax, Say Chidambaram

The Indian government should view charging the very rich more tax, Finance Minister P Chidambaram told in an interview with the TV Channel ventilated on Thursday, but accented that he thought in "stable tax rates."

"We should consider again on such statement whether the very rich should be requested to pay a little more on whatsoever businesses," Chidambaram told to the network.

His comments in the track up to his 2013/14 budget, due to be conferred to parliament on February 28. The Prime Minister's economic adviser lately advisable higher tax rates for the too rich at a time when India is trying to cut down a broad fiscal deficit.

We must hike the tax revenue to support the anticipated decline of resources. I know numerous people won’t favor this. But I believe, I can send for the courage to create the statement. I am the finance minister who decreased your tax rates. Therefore, you must be fitted out to pay high tax rates, peculiarly the rich must be oven-ready to pay higher tax,” said P Chidambaram.

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