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Nitin Gupta was chosen as New CBDT Chairman
The Union Cabinet has named Nitin Gupta as Chairman of the Central Board of Direct Taxes (CBDT). The officer in the Indian Revenue department Nitin Gupta currently holds charge as a Member (Investigation) in CBDT. He will take charge as the New CBDT Chairman from the assumption of the office.
The Central Board of Direct Taxes (CBDT) is headed by Chairman and has a maximum of 6 members.
Income Inequality rate in India declines
According to the State Bank of India Ecowrap report, the Income Inequality rate in India is on a steady decline since FY17.
The SBI Ecowrap report read, “With a progressive growth in output across states as proxied bY GSDP (gross state domestic product), it clear that the fruits of such growth have clearly reverberated and dovetails into an inclusive growth if estimates from Gini coefficient of state-wise per capita income are any indication that has improved since FY17. India has thus done quite well during pandemic in terms of navigating income shocks across declines of population.”
Ecowarp report further stated, the average income of states reached from Rs 18/118 in 2001-02 to RS 68,845 in 2011-12 and RS 1,74,021 in 2021-22 while adding the inequality has significantly moderated in states.
Based on this report, It is evident, the coefficient of variation of per capita income of states went down from 76 per cent in 2011-12 to 67 per cent in 2021-22