In today’s Hindu, on page 11, there is a very important and educative article by well known writer, Shri P.Sainath, under the caption ‘The Feeding Frenzy of Kleptocracy’. It mainly deals with the concessions and tax relief given to the corporates on Income Tax, Customs, Excise etc. among othe issues.

According to the author, more than Rs. 31,11,169 crore revenue has been foregone by the Central Government by concessions/relief given to the corporates towards Income Tax, Customs and Excise alone during the last 8 years from 2005-06 to 2012-13. This information is taken from the successive Budget documents. The annual relief on tax etc. has been increasing year after year. This is much more than the subsidies given towards the crores of poor people.

The neo-liberal policies and economic reforms have benefitted the corporates and the rich and put more misery on the common man and the toiling masses.