Jaitley said he would tack a 2% surcharge on 'super-rich' Indians who earned more than Rs 10 million ($161,000) per year. Guess what? There are only about 100,000 people who have declared that income or more. This in a country of 1.25 billion which has the world's third-largest number of dollar billionaires - 97 in all.
Chaitanya Kalbag is an award-winning columnist and journalist. He is a former editor of Reuters Asia, the Hindustan Times and Business Today.
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