Archive · 11 Aug 2025
High Taxes and Corruption Driving Wealthy Indians to Migrate
Imagine wealthy people in India are leaving to live in other countries.
A financial expert named Akshat Shrivastava says one reason is because they pay a lot in taxes in India.
Also, he said that people have to pay for services like education, even though they already pay taxes.
Shrivastava compares this to other places where taxes are lower, and the government provides more services.
He thinks these high taxes and lack of good services make it hard for people to get rich in India, and that's why they are leaving.
Finfluencer Akshat Shrivastava highlights high taxes and corruption as factors driving wealthy Indians to migrate.
India ranks No. 1 globally for millionaire outflow as a share of total millionaires.
Shrivastava contrasts India's tax regime with the UAE's, which has zero personal income tax.
He argues that high taxes combined with inadequate public services and corruption make wealth creation difficult.
The remarks were made as the government prepares the revised Income-tax Bill, 2025.
- Who
- Akshat Shrivastava, founder of Wisdom Hatch
- What
- Finfluencer Akshat Shrivastava explained that high taxes and corruption are key factors pushing wealthy Indians to migrate.
- When
- Remarks made recently as the government is preparing to table a revised Income-tax Bill, 2025.
- Where
- India
- Why
- To explain the reasons for the migration of wealthy individuals from India.
Current Taxation Model
Tax Reform
Impact of Tax Burden
Current Taxation Model
High taxes and corruption impede wealth creation and drive migration.
Tax Reform
N/A
- Key Figure
- Akshat Shrivastava, Founder of Wisdom Hatch
- Main Issues
- High taxes, corruption, inadequate public services
- Comparison
- India vs. UAE tax regimes
- Global Ranking
- India ranks No. 1 for millionaire outflow
- Government Action
- Preparing the revised Income-tax Bill, 2025
