All stories by Indivjal Dhasmana
The most important number in Sitharaman's 2nd BudgetRediff.com29 Jan 2020
The numbers become all the more important because actual tax collections fell short by Rs 1.91 trillion compared to what was projected in 2018-19. Besides, the Budget for FY20 did not give actual figures for 2018-19, but the revised numbers given in the interim Budget.
Budget will play a critical role in reviving growth: EconomistsRediff.com8 Jan 2020
Measures that quickly boost demand and increase employment are needed to push up growth. Moreover, without announcing new planss, the government should strengthen schemes such as PM KISAN, MNREGA and programmes to build rural roads.
11 states record retail price inflation rate over 6% in NovemberRediff.com4 Jan 2020
The states that witnessed high CPI-based inflation rates were Lakshadweep, Tripura, Odisha, Uttar Pradesh, Kerala, Madhya Pradesh, Puducherry, Tamil Nadu, Rajasthan, Manipur and Mizoram.
GST: Electronic invoicing, new returns to be introduced in 2020Rediff.com31 Dec 2019
E-invoicing would be implemented on a voluntary basis by those having an annual turnover of above Rs 500 crore from January 1.
'Budget should focus to boost rural demand, not income tax cut'Rediff.com23 Dec 2019
To propel demand, one should concentrate on indirect taxes and bring down the goods and services tax (GST) rates to a uniform 12 per cent as the Vijay Kelkar panel had recommended, said Ajit Ranade, chief economist at Aditya Birla Group.
Number of crorepatis rose by 16,345 in '18-'19Rediff.com12 Oct 2019
As many as 97,689 people had more than Rs 1 crore gross income in 2018-19 AY against 81,344 in the previous year, shows official direct tax data.
Faceless tax e-assessment begins; 58,222 notices sentRediff.com8 Oct 2019
Though the system is called faceless, it would have a room for inviting tax payers through video conferencing.
Govt has a new plan to boost direct tax mop-upRediff.com20 Sep 2019
The government has set a direct tax collection target of Rs 13.35 trillion, which includes Rs 7.66 trillion from corporation tax and Rs 5.69 trillion from personal income tax.
Aug GST collection falls below Rs 1 trillionRediff.com2 Sep 2019
The collections stood at Rs 98,202 crore in the month, against Rs 1.02 trillion in July. The figures indicate continuation of economic slow down which was reflected in the gross domestic product (GDP) growth which plummeted to a 25-quarter low of 5 per cent in the first quarter of 2019-20, experts said.
It will take 1-2 years to come out of economic slowdown: Bimal JalanRediff.com21 Aug 2019
If the government takes action to implement its announcements on the infrastructure front, the economy will improve, says Bimal Jalan, former RBI Governor.
UK, France push India's economy to 7th spotRediff.com1 Aug 2019
According to data compiled by the World Bank, the UK's economy grew to $2.82 trillion and the French economy expanded to $2.78 trillion in 2018, against India's $2.73 trillion, showed the data.
Tax authorities flayed for error in assessmentRediff.com1 Aug 2019
CAG found irregularities in 340 high-value cases pertaining to corporation taxes to the tune of Rs 4,866 crore.
2 years after roll-out, GST glitches still exist, says CAG reportRediff.com31 Jul 2019
The Centre's revenue from GST registered a decline of 10 per cent in 2017-18 compared to revenue of subsumed taxes in 2016-17.
IMF cuts India's GDP growth rate to 7%Rediff.com24 Jul 2019
However, the World Bank has projected India's GDP growth rate at 7.5 per cent for the next three financial years, including the current one.
Sitharaman vows that every number in Budget is authenticRediff.com11 Jul 2019
A query has been raised about the "missing" Rs 1.7 trillion fiscal hole in India's financial accounts. This is so because the Budget uses the revised estimates, a projection of how much the government was expected to earn, while the Economic Survey uses the first actual numbers.
Punish, but don't ban Deloitte, US urges IndiaRediff.com19 Jun 2019
The US government has also conveyed to India that multi-national corporations and foreign investors make their decision to invest globally on the advice and guidance from the Big Four networks, which also provide consultancy services. Deloitte ban will disrupt businesses and investment inflows.
Skymet advises farmers to delay crop sowingRediff.com4 Jun 2019
Sowing of crops at this point of time, when the onset of monsoon is delayed and chances of good rains are less, will only push up the cost for farmers and also hamper the yield of the crop: Skymet.
Economists worried over fiscal stimulus, urge RBI to cut rateRediff.com3 Jun 2019
Economists have said if a stimulus is needed it should be different from what was provided in 2008-09, when the economy faced the ripple effects of a global meltdown following the Lehman Brothers collapse.
What's in a name? Well, actually a lotRediff.com24 May 2019
Choosing your company's name? MCA lists examples to avoid any duplication. The Ministry of Corporate Affairs made it clear that the use of different phonetic spellings, including the use of misspelled words of an expression, would be treated as same.
RBI must introspect its role in lower growth, says GoyalRediff.com6 Apr 2019
Piyush Goyal, who held the post of finance minister when Arun Jaitley was undergoing treatment, told the Confederation of Indian Industry's annual session: "All stakeholders, including the RBI, should introspect on their respective roles (on low economic growth)."
EPFO numbers for Jan 2019 boost govt claims on jobsRediff.com22 Mar 2019
January 2019 saw the maximum number of employment being generated since the data from September 2017, reports Indivjal Dhasmana.
Why India's exporters are a worried lot todayRediff.com20 Feb 2019
The WTO's quarterly outlook indicator, comprising seven trade parameters, stood at 96.3, the lowest since March 2010 and down from 98.6 in November. Exports from India would be hit if there is a slowdown in world trade.
Growth in NDA's last year better than UPA's, but still below parRediff.com22 Jan 2019
However, economic growth in five years of the UPA and NDA cannot be compared because of the now complex back series data, reports Indivjal Dhasmana.
5 likely GST changes after 2019 pollsRediff.com17 Jan 2019
After the 2019 election, one thing is sure: GST will see a number of changes, explains Indivjal Dhasmana.
Here's how Jaitley's on course to meet FY19 fiscal deficit targetRediff.com11 Jan 2019
However, independent economists are not as gung-ho as the finance ministry over the likelihood of deficit target being met this time around, says Indivjal Dhasmana.
Inflation numbers show it's a double whammy for farmersRediff.com3 Jan 2019
While the farmers are not getting remunerative prices for their produce, at the same time they are forced to pay high prices for items they consume.
'Growth will fall to 6.7% in Jan-Mar'Rediff.com31 Dec 2018
Slight recovery in growth is expected only in July-September.
Firms can now file GST returns till March 31, 2019Rediff.com10 Dec 2018
Industry had sought this 3-month extension, specifically for players struggling to collate the information that are required to be disclosed in the GST forms.
D H Pai Panandiker: An economist from whom even Manmohan Singh used to take adviceRediff.com20 Nov 2018
He did not believe in any fiscal puritanism. In 2012, when it was almost certain that the government will breach the 2012-13 fiscal deficit target, he wrote that in abnormal times, abnormal measures are required to get back to normalcy.
Why GDP growth is likely to slow to 7.2-7.3% in Q2 of FY19Rediff.com20 Nov 2018
The services sector, which plays the biggest role in shaping the economy, is facing loads of issues currently. The largest segments, financial and real estate, are struggling to cope with bad debts and low demand for houses.
India's exports contract, but trade deficit falls to 5-month lowRediff.com16 Oct 2018
September import growth was the second lowest this fiscal year, after the April growth figures of 4.6 per cent, bringing the trade deficit down to $13.98 billion
How to solve this GST imbroglio?Rediff.com10 Oct 2018
From a commercial standpoint, reducing the price of each SKU, particularly with a small MRP (Rs 5 or below) is often a challenge, including availability of legal tender below Re 1
Meet Gita Gopinath, IMF's new chief economistRediff.com2 Oct 2018
She would be the first Indian to be occupying the coveted post at IMF after former RBI governor Raghuram Rajan
Sachin finally gets tax relief on his Pune propertyRediff.com15 Aug 2018
Under the I-T Act, if a person has more than one property, one of them may be treated as given on rent even if it is vacant
To simplify GST returns, govt introduces 4 Bills in Lok SabhaRediff.com8 Aug 2018
The Bills are primarily aimed at helping the MSME sector and small traders, Finance Minister Piyush Goyal said while introducing these in the Lok Sabha
Er, how many jobs were actually created in the non-farm sector in 2017?Rediff.com24 Jul 2018
ASK Wealth Advisors says 5 million, CMIE's estimate is 2 million and Ghosh & Ghosh said it was 7 million!
Will GST 2.0 lead to changes in tax rates?Rediff.com16 Jul 2018
Assembly elections coming up in November and December could offer a window of opportunity to the government to make GST attractive through rate cuts.
India hopes to be 3rd largest economy by 2030, behind US and ChinaRediff.com15 Jul 2018
However, if the rupee depreciates much, the economy in dollar terms would be that much smaller.
Amid inflation worries, June manufacturing sees fastest growth in 2018Rediff.com3 Jul 2018
PMI went up from 51.2 points in May to 53.1 in June. Owing to the June figure, PMI for manufacturing stood at 51.9 points in the first quarter of 2018-19 against 51.8 points in the fourth quarter of 2017-18.
RBI bar on cryptocurrencies challenged in SCRediff.com20 May 2018
Ahmedabad-based crypto firm Kali Digital Ecosystems' plea against the ban will be heard on July 20.