Explained: What India's high inflation means for taxpayers and why it will affect the poor the most

Published: 16th May 2022 10:24 PM  |   Last Updated: 17th May 2022 11:31 AM  

Contrary to finance ministry claims, most experts believe that higher inflation will adversely impact the lower-income classes. India registered 7.8% retail inflation in April 2022, much higher than the upper limit of RBI’s inflation range. The headline inflation soared to an 8-year-high at the same time. Prices of food items, edible oils and fuels have skyrocketed. But what does that mean for the taxpayers?


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