Pakistan will need another IMF package, says ADB

[Matrixx]

So Pakistan is taking new loans to pay old loans.....I can not imagine any worst situation for any country......

 

[Matrixx]

@mods please cLOSE THIS THREAD ITS AN OLD ARTICLE AND A CHEAP ATTEMPT BY SOME ONE TO CAUSE TROLLING AMONG MEMBERS
to all the indians

thank you come again

Dawn news published on March 7, 2013 is old news........you are right 3 days old news

 

[my2cents]

It is not possible that India is only collecting 3.3% it must be much higher. Look at India's reserves and spend and the same for China. It is a necessity for all countries that want to become civilised, to have a fair and equitable tax system and collection.

Otherwise do not expect power, roads, gas, schools, defence, transport etc.

Do you know how many Indians pay Taxes and how much?

You would be surprised with some of the numbers. According to the report released by Indian Finance Ministry, estimated number of taxpayers for financial year 2011-12 stands at just 3.24 Crore people. That means, less than 3 people in 100 pay taxes. We have our share of tax evaders too.

Out of these 3.25 Crore people, 89% pay taxes in the tax slab of 0 – 5 Lakh rupees, while on the other end of spectrum, only 1.3% of all tax payers have income about 20 Lakh!

Tax Collection based on Tax slabs

Slab-- (Rs. in crore)---- Percentage of tax collected
0-5 lakh--- 15,010--- 10.10%
5-10 lakh-- 21,976--- 14.80%
10-20 lakh- 17,858--- 12.10%
>20 lakh--- 93,229--- 63.00%

So, if you look at last line you see 4.6 lakh Indians pay a total of 93,229 crore rupees of tax. That comes to an average of roughly 21 lakh per person!

See the amount of inequality that exists in India. Surprise, surprise.....

Income Taxes paid by Indians [Overview, Numbers & Graphs]

 

[Matrixx]

A Nuclear power country does not have money to run country....what a contradiction.....Pakistan need to change its policy big time....

 

[my2cents]

A Nuclear power country does not have money to run country....what a contradiction.....Pakistan need to change its policy big time....

For all we know they may end up with selling the nukes for money......It is better they get the IMF loan to stabilize their payment position. We were in this position not too long ago, and we had to sell our gold.

 

[illusion8]

It is not possible that India is only collecting 3.3% it must be much higher. Look at India's reserves and spend and the same for China. It is a necessity for all countries that want to become civilised, to have a fair and equitable tax system and collection.

Otherwise do not expect power, roads, gas, schools, defence, transport etc.

We have multi layered taxes for everything and that means everything - even a matchbox which is bought attracts at least 5-6 types of taxes. The personal income tax is being continuously pushed towards higher income groups and even there are plenty of SOP's to reduce income tax payable's. So it's not exactly much of a loss when it comes to collecting IT from a smaller group.

 

[muse]

Pakistan has reached a critical balance of payments situation

“We are now at less than three months of imports. The current outlook is for a further decline in foreign exchange reserves,” said Mr Liepach.—Reuters

Pakistan will need another IMF package, says ADB | Pakistan | DAWN.COM

And so? It's like saying a Junkie is low on his next fix --