Elasticity of Non-Corporate Income Tax

Elasticity of Non-Corporate Income Tax in India Amaresh Bagchi M Govinda Rao ANUPAM GUPTA'S comment on our papery (EPW, July 16) in response to our criticism of his low estimates of the elasticity of the noncorporate income tax in India brings to the fore some important methods logical issues involved in the estima- tion of income elasticity of income tax and the pitfalls of reading more from the elasticity estimates than is warranted.