All stories by Indivjal Dhasmana
Can Nitish-Tejashwi's second coming stem Bihar's rot?Rediff.com1 days ago
Various indicators make it amply clear that there are grave challenges facing the new government of Chief Minister Nitish Kumar, reports Indivjal Dhasmana.
Post office staff swindles Rs 96 cr of public money in saving schemes: CAGRediff.com3 days ago
The staff at post offices misappropriated Rs 95.62 crore of public money between November 2002 and September 2021, the Comptroller and Auditor General has said. The money may seem small but it is what common citizen invested in post office savings, the oldest and the largest banking system in the country. The system serves the investment needs of urban and rural clients through schemes such as savings bank, recurring deposits, time deposits, national savings certificates, kisan vikas patras, public provident fund, monthly income account scheme, sukanya samriddhi accounts and senior citizens savings scheme.
Taxpayers fear notices due to I-T dept slipsRediff.com5 days ago
Income-tax payers fear they will receive notices from the government because the annual information statement (AIS) provided by the I-T department in many cases is showing incomes in excess of their earnings. The Central Board of Direct Taxes (CBDT) has dismissed these fears as unfounded. The deadline for filing income-tax returns (ITRs) for the assessment year 2022-23 ended on July 31.
Wheat, pulses, cooking gas topped inflation charts in JuneRediff.com3 Aug 2022
The impact of fiscal measures announced by the government to contain inflation will be seen in the next few months because of the base effect, reports Indivjal Dhasmana.
Moody's warns of India's vulnerability to volatile food, energy pricesRediff.com20 Jul 2022
Moody's Investors Service has warned that India, along with the Philippines, Thailand, and Vietnam are highly vulnerable to volatile food and energy prices in the Asia-Pacific region as the Russia-Ukraine conflict continues to disrupt supplies and raise the cost of agricultural products, especially cereals and vegetable oils, as well as fertilizers and other agricultural inputs. This is so because these countries have a higher weighting of energy and food prices in their consumer price index (CPI) baskets, Moody's said in its report released on Tuesday. The weighting of energy and food in overall Indian CPI stands at over 55 per cent.
Labour codes not to kick in from Friday even as states, UTs frame rulesRediff.com1 Jul 2022
The Union government will take a bit longer to introduce the much-awaited labour codes even as the majority of states and Union Territories (UTs) have framed rules on them. There were speculations that these would be introduced from July 1. While 30 states and UTs have framed rules on the code on wages, 25 of them have done so on industrial relations. Of the two remaining codes, 24 states and UTs have framed rules on social security and 23 on occupational safety, health, and working conditions (OSH), sources said.
RBI may 'kill excess demand' in economy in 6-8 monthsRediff.com19 May 2022
With inflation remaining at elevated levels, central banks around the world, including the Reserve Bank of India (RBI), will kill excess demand in economy over the next six to eight months, sources in the know said. They also indicated that there could be a rate hike in June, when the inflation forecast for the current financial year would be raised. The RBI, the sources said, might announce more steps such as raising the limit on held-to-maturity (HTM) bonds to support government borrowings but might not come out with any further quantitative easing GSAP (Government Securities Acquisition Programme) measures.
Freebies Making States Cash-Strapped?Rediff.com26 Apr 2022
While the likelihood of these states going the Lanka or Greece way may be an alarming assessment, the financial situation of some states such as Punjab and West Bengal is indeed quite weak.
Long-pending four labour codes may go live by June-endRediff.com6 Apr 2022
Their implementation is expected to create investment owing to improving ease of doing business as well as initiating pro-worker measures.
TN sets up GST advisory body, experts fear it may clash with CentreRediff.com6 Apr 2022
If other states follow suit, it is going to become difficult for the GST Council to decide on the next stage of reforms.
Retail price inflation not to fall below RBI's 6% mandate any time soonRediff.com26 Mar 2022
However, it may still not change its stance on the policy rate as inflationary pressures are coming from high commodity prices.
Worrying news for consumers as health costs creep upRediff.com14 Mar 2022
Since January 2021, the inflation rate in health has stood in the range of 6.08-8.44 per cent.
'Introduce another slab to tax the super-rich'Rediff.com21 Feb 2022
'We can go somewhere between 35 per cent and 40 per cent.'
'Petroleum Prices Will Rise After Date Of Counting'Rediff.com14 Feb 2022
'The signal is crude oil prices will rise, I am cutting my subsidy. Be prepared, prices will rise.'
Now, ready-to-eat fryums papad to draw 18% GSTRediff.com11 Jan 2022
Deciding the goods and services tax rate on fryums papad could be a messy affair with the Appellate Authority for Advance Rulings (AAAR) of Gujarat now ruling that the ready-to-eat product would draw 18 per cent rate. In that connection, it slightly modified the ruling of the state-based Authority for Advance Rulings (AAR). The AAR had also ordered that these products would draw 18 per cent GST but under a different classification.
What Is India's True GDP?Rediff.com10 Jan 2022
'How low GDP would have been, we don't know.' 'It raises serious questions because so many indicators are pointing to such a sharp decline and GDP estimates are still showing 4 per cent growth.'
'If India keeps growing, money flowing in won't stop'Rediff.com3 Jan 2022
'There will always be a challenge to maintain a fine balance to ensure that the growth keeps happening and inflation is contained.'
'What we need now is spending'Rediff.com30 Dec 2021
'The classic thing we need as a country is the virtuous cycle where you have robust demand which leads to more capital spending which in turn leads to more job creation and more money in the hands of people.'
Meeting FY22 fiscal deficit target hinges on divestmentRediff.com28 Dec 2021
After the government sought Parliament's nod for a second batch of supplementary demand for grants that will cause a hit of Rs 2.99 trillion to the exchequer, doubts suddenly arose about the government's ability to meet the Budget projections of reining in its fiscal deficit at 6.8 per cent of gross domestic product (GDP), or Rs 15.06 trillion, for the current financial year. Till now, many were of the opinion that the government would succeed in checking the deficit at a much lower figure than what was given in the Budget Estimates (BE). The government had sought Parliament's approval to spend Rs 3.74 trillion extra, but Rs 74,517.01 crore will be matched by equal savings on other heads.
From Jan 1, GST officials to make surprise recovery visitsRediff.com23 Dec 2021
Come January and the government is empowered to send its recovery officials to your premises to collect GST without notice, if your tax liability shown in the requisite form is less than what invoices, mentioned in the outward supply form, should draw. The relevant provision in the Finance Act, 2021, will come into effect from January 1, 2022, according to a gazette notification issued on Tuesday. Under the GST system, there are two kinds of returns that a company is required to file monthly if its turnover is over Rs 5 crore annually. These are form GSTR-1 and GSTR-3B.