News From Press Economic Survey drops a hint if Budget will bring Covid cess, tax on ultra-HNIs

Economic Survey drops a hint if Budget will bring Covid cess, tax on ultra-HNIs

While the government and much of the formal sector maintain that the domestic economy is seeing a V-shaped recovery post the national lockdown to contain the Covid-19 cases in April-May, the true shape of the recovery has been rather ‘K-shaped’.

ET Jan 30, 2021

For those worried about grapevine that the Union Budget for 2021-22 may bring in some form of redistributive taxation, including a Covid-19 cess on corporates and ultra high net-worth individuals to shore up the government’s finances and ease concerns over the rising inequality, the Economic Survey may have just dropped a hint.

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