Social Deposits – An Idea for Poverty Free India by 2020
- India has a growing population of 1.24 billion of which 150 million people are below International Poverty line.
- Out of the 1.24 billion, there are about 34 million tax payers in India.
- Of these 34 million tax payers, only about 15 million are salaried and hence tax for them is deducted at source.
- Income Tax reports the total tax paid by salaried class as 1121 billion Rupees.
- That’s an average of 75K paid per person.
Here is a graph to illustrate these stats
Tags: 80C, Below poverty line, BPL, Budget, entrepreneur, Finance, Finance Minister, Financial Inclusion, India, India Budget, micro credit, Narendra Modi, poverty, poverty free, poverty line, rangde, rural entrepreneur, social deposit, social entrepreneur, social inclusion, social lending, tax reform