Government to table the Economic Survey 2017 in Parliament today

In last year’s Survey, Mr Subramanian had stressed the need for higher tax compliance. India’s overall tax to GDP is about 5.4 percentage points less than that of comparable countries, the Survey had noted. In India today, roughly 5.5 per cent of earning individuals are in the tax net. This statistic gives an idea of the gap that India needs to cover to become a full tax-paying democracy, the Survey had noted. Mr Subramanian’s comments on the government’s focus to eradicate black money would be closely watched.

(Sourced from agencies, feature image courtesy:oneindia.com)