-Newsclick.in
Tax collections have plummeted and Modi Govt is scrambling to cut spending by Ministries, further deepening the crisis.
For the first time in two decades, corporate and income tax collections are expected to fall in 2019-20. This is an indication of the gigantic mess created by the Narendra Modi government with its dogmatic commitment to reduce taxes on corporates and squeeze its own expenditure to supposedly boost the flagging economy. As February 1 approaches, when the new Budget for 2020-21 will be presented, the government is running around seeking solutions – but nobody is answering.
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