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Why urban families earning Rs 1L a month should be considered low income

Those who the govt thinks are rich are actually quite poor, and we need to rethink our notions of rich and poor for tax purposes

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T C A Srinivasa-Raghavan
A myth has been assiduously fostered by the bhakts in and of the CPM that inflation hurts the poor the most. Most of these bhakts were, and are, champagne-swilling frauds trying to tell the world that their hearts are in the right place. It's, however, where their brains are that's important.

The simple point about inflation, which no left-wing economist will tell you, is that it hurts the consumer, whether he is poor or rich. But all producers gain from it. That includes farmers.

So, I want to suggest to the government that it should redefine notions of rich and poor because
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First Published: Aug 24 2022 | 10:17 AM IST

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