Which is better for country not individual
The old tax regime was made with the intention to collect public funds by promoting savings. The government mandated only specific investments eligible for deductions. Those money pooled were used to fund central projects.
now, the government collects enough money thru GST. It has opened up GSec and RBI bonds to the public that was originally the area where banks and institutions parked their money. So, the government now doesn't want people to save, it wants people to consume more. With public participation in GSec/Tbills/Bonds, government is forcing banks to lend more. there is only one beneficiary from the new tax system, The government. There is only one beneficiary from anything that the government does to "ease the life of people", The government.
Wrong items in the poll as it's not tax that is the issue. It's the lack of skill development and enough jobs for everyone to contribute to a growing economy. Tax is done due to the poor economic incentives and high transactional costs
The main issue with the government is low quality services given to people the skill development mainly depends on the volume of the people who were educated who were trained but that is in the hands of government which gets money through taxes
None of the above! Only better services for the tax we pay is good for country's growth
But if I have to choose only from above: No tax doesn't work for most countries, especially for India. Old tax is good for the country as people used to invest in ELSS, NPS, PPF etc., make donations, get insurances, even buy homes. New regime has almost nothing in that sense.
But the services for the tax we pay is not in our hands politicians and corporates rule india not people
The issue is that tax money is not getting used properly. If you give people better services and end the Gunda Raj over the country and fix the judicial system, most talented people will stay and build the country.
