India received highest number of regressive tax recommendations from IMF: Oxfam

NEW DELHI: (Apr 13) India received the highest number of regressive tax recommendations from the International Monetary Fund (IMF) between 2022 and 2024, according to an analysis by Oxfam.

The analysis, released ahead of the IMF and World Bank spring meetings in Washington, has flagged that the global body is applying "double standard" by giving largely progressive advice to wealthy countries while suggesting regressive measures for others that are "likely to exacerbate inequality".

The report said 59 per cent of the IMF's tax advice to low- and lower-middle-income countries was regressive, while 52 per cent of its recommendations to high-income countries were progressive.