Lost India Stories on Instagram: "In the early 1970s, India’s top marginal income tax rate reached nearly 97.75% when income tax was combined with surcharge and wealth tax. This meant that for every ₹100 earned at the highest slab, the government took almost ₹98. This period is remembered for: • Extreme tax burden on high earners • Explosion of black money • Capital flight and underground economy • Collapse of private investment incentives These policies were rolled back only after the 1991 econ