Former Karnataka Chief Minister and Janata Dal (Secular) chief HD Kumaraswamy proposed that the government levy “COVID Cess” on the super-rich of the country to make up for the loss in revenue collection.
For live updates on coronavirus, click here
In view of an inevitable reduction in the purchasing power of the people due to the novel coronavirus outbreak, the cost of living will lower in India. To alleviate their financial stress, the government can slash down prices of diesel, petrol, etc, the JD(U) leader suggested, adding that this amount can be recovered by levying a cess on the ultra-rich.
Coronavirus pandemic | Global CEOs see U-shaped recession due to COVID-19: Survey
Taking to social media on April 27, he further wrote:
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
