Whalesbook
Capital Moat: Listed Companies Ka Funda Hit!
Kya aapko pata hai, India mein corporate tax dene mein listed companies ab unlisted walon se zyada contribute kar rahi hain? NSE ki ek report ke mutabik, FY25 mein unlisted companies ka tax collection mein share gir kar 47% ho gaya hai, jo FY19 mein 55.6% tha. Matlab, listed compnies ka share lagbhag 60% cross kar gaya hai!
Pandemic Ne Badhaya Difference
Yeh trend pandemic ke time mein aur tezi se badha. FY21 mein jaha listed companies ka tax payment 22% badha, wahi unlisted companies ka 45% gira tha. Abhi unlisted firms thoda recover hui hain, par pehle jaisa level nahi pakad payi hain. Iska reason simple hai – listed companies ko equity aur bond markets se paisa milna aasan hota hai. Is paise se woh log technology, new systems aur operational efficiency par khoob invest kar sakte hain, jisse unka business grow karta hai aur woh zyada tax pay karte hain.
Unlisted Ka Struggle
Wahi dusri taraf, unlisted companies ke liye paisa arrange karna thoda mushkil hota hai. Liquidity kam rehti hai, valuation ko leke bhi confusion rehti hai. Isliye woh log tech aur growth mein utna invest nahi kar paate jitna listed companies kar leti hain. Yeh difference unki tax contribution mein saaf dikh raha hai.
Tax Collections Ka History Aur Future
Waise bhi, India mein corporate tax collection hamesha se personal income tax se zyada raha hai. FY19 se FY24 tak, corporate tax collection 50% tak badha hai. GDP growth aur corporate tax collection ka bhi seedha connection hai. India jo formalization aur digitalization ki taraf badh raha hai, usse bhi listed companies ko fayda ho raha hai kyunki woh iske liye better equipped hain.
SEBI Ki Bhi Nazar Hai!
Yeh badhti hui gap regulators ki bhi nazar mein hai. SEBI unlisted share market ko bhi check kar raha hai kyunki waha transparency aur liquidity ki kami hai aur valuation mein bhi gaps dikh rahe hain. Listed companies ko public markets se support milta hai, transparency rehti hai, jo unlisted firms mein nahi hai. Isliye, lagta hai ki aage bhi yeh listed companies ka tax dominance aise hi badhta rahega.