On the hike in fuel prices, she accused the government of profiteering and said it is turning a disaster into an opportunity to fill its coffers. She also alleged that the government is breaking the back of the poor, the farmers, and the middle class due to its 'insensitivity'.
IMF's Chief Economist Gita Gopinath on Thursday said it would be damaging for India to start tightening policy support in the midst of the COVID-19 pandemic and also stressed on reducing wasteful expenditures in the upcoming Budget. Delivering NCAER's '9th C D Deshmukh Lecture' virtually, Gopinath said there is scope for the Indian government to provide more direct support to people.
A combination of reduced cash intensity, a focused strategy of tax administration and GST is the way to go, say Sakshi Gupta, Tanvi Garg and Abheek Barua.
Demonetisation and GST are the main reasons for the job losses.
'The revival of household savings and investment is the litmus test of whether we are on the road to recovery,' says Nitin Desai.
Apart from the much-reported constitutional and political hurdles on a national Goods and Services Tax (GST), there is another basic one. Barely half of dealers in the country have a Permanent Account Number (PAN) from the tax department.
Amid the opposition UDF's sloganeering against him, Kerala Governor Arif Mohammed Khan on Friday delivered the customary address to the assembly with the policy document outlining the Left government's administrative achievements and criticising the Centre for allegedly pushing the state to financial constraints by reducing its resource allocations.
'Under this government, tax laws have become more draconian, and the government itself is setting stiff, unrealistic targets for tax officials, who have got more powers to harass us,' points out Debashis Basu.
The DTH industry has to pay entertainment tax to state governments and service tax to the central government.
Growth forecast has been lowered owing to tepid growth in the first half of 2017-18, the lingering effects of demonetisation, transitory challenges of GST, and some risks to agriculture stemming from a spotty monsoon.
M R Venkatesh, chartered accountant turned political commentator tells Shobha Warrier/Rediff.com that Modi's war is not against the opposition parties or the Congress but against the bureaucracy and the establishment.
Vodafone-Idea (Vi) has said the key hurdle it faces in raising fresh funding, despite interest from investors, is the 'pricing situation' which is also the reason why it has asked the Department of Telecommunica-tions (DoT) for another extension of the moratorium on payment of spectrum instalment by one more year. Responding to a question during an analysts' call on Friday after its quarterly results on the reason for the delay in fund-raising nine months after it was announced, CEO & MD Ravinder Takkar said: "We are in discussions with investors. There is continued interest in investing in the telecom sector in the country. "The biggest hurdle is that the overall industry is under stress because of the pricing situation." He said that once tariffs go up, it will create a significant amount of confidence.
Fintech players are customising solutions for rural markets and helping SMEs learn how to use the services
A political party's manifesto is the first stage of building a compact with the voters in any governance plan. If that compact is dependent on a document that reeks of fiscal imprudence and lacks credibility, it is a serious setback to the country's democracy and governance, says A K Bhattacharya.
Prime Minister Narendra Modi on Saturday said the target date for achieving 20 per cent ethanol-blending with petrol has been advanced by five years to 2025 to cut pollution and reduce import dependence.
A smartly executed reform-recap will be the best booster for the economy, says Ajay Chhibber.
They were participating in a debate on the bill for giving effect to various compliance relief measures for taxpayers, including extending time limits for filing returns, in the wake of the coronavirus crisis and tax benefits for donations to PM CARES Fund.
We asked you to tell us your reason for choosing not to vote. This is what our readers shared.
The Budget may see new rural schemes and stepping up of funding towards existing programmes like MNREGA, rural housing, irrigation projects and crop insurance.
A 14.2-kg subsidised LPG cylinder will cost Rs 494.99 in Delhi, while non-subsidised LPG rates have been cut by a steep Rs 120.50 per cylinder
Through this transaction, Amazon has managed to acquire around a 3.6 per cent stake in the Future group.
'Where will industry have funds when they open up?'
Relax fiscal consolidation, boost public capex and reduce cost of finance, industry tells Centre
But their trajectory and direction have been largely influenced by politics and the political leadership's understanding of how the economy needs to be managed, explains A K Bhattacharya.
Metal prices from copper to aluminum and tin have shot up by about 7-32 per cent in the past three months.
There is a need for stimulus, as India is essentially a consumption economy, argues Cargill India chairman Siraj Chaudhry
'There is a need for stimulus, as India is essentially a consumption economy.'
Rahul alleged that the BJP-led government wanted to take money from the common man to give it to its "rich friends" and asked it to tell the people why they were not reducing the price of petrol in the country.
Before 2019, an estimated 22 million individual income-tax returns did not have to pay any taxes. But after the change in the exemption level, another 13 million individual tax returns did not require to pay taxes. Thus, of about 58 million returns, as much as 63 per cent or 35 million went out of the direct tax net, A K Bhattacharya points out.
A group of students from Gwalior have launched a campaign by writing messages on sanitary napkins to Prime Minister urging him to eliminate the 12 per cent Good and Services Tax on the product.
The growth in imports was led by product categories such as diagnostic items, ultra-sonogram machines, MRI and ECG apparatus, syringes with needles, suture needles, digital thermometers, malaria diagnostic kits, and hearing aids.
While home-grown firms like Tata and Mahindra have been actively participating in the government's e-mobility mission, by launching electrified versions of their existing models, the global firms believe electric is not the best solution for a country where the primary source of power generation is coal, and where infrastructure is a big impediment.
'The spirit of cooperation between the Centre and states has been diluted in many ways.' 'The level of consultation which used to be there earlier has reduced significantly.'
Car makers see a dip in demand from their biggest buyers, Ola and Uber. Demand from aggregators weakened for a number of reasons after a strong growth last year.
Finance Minister Arun Jaitley said the fiscal deficit slippage this financial year (2017-18) was largely statistical.
SIAM said excise duty must be lowered
The govt has hiked customs duty for metallurgical coke.
'It is important for states to agree 10-15 per cent duty cut and take home the same amount of tax revenue as budgeted.'
Analysts, however, suggest investors remain selective on realty stocks and buy only where there is revenue visibility and a credible promoter backing.
India improved its rank on six out of the 10 parameters relating to starting and doing business in a country.
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