'There has to be an 18-month transition.' 'But if the government had some prior knowledge that the high value notes were being used for an imminent terrorist activity in the country, then we have to accept the step.'
The GST will replace more than a dozen levies central and state levies, including central excise duty, service tax and central sales tax as well as VAT on sale of goods and entry tax, to make movement of goods seamless across 1.3 billion market.
This taxation applies to all types of transfer of property.
Prime Minister Narendra Modi's spin doctors are on an overdrive these days to project him as a "tough talking" leader following a spate of critical media reports about his sudden silence on key issues, says rediff.com contributor Anita Katyal.
BJP sources said their party has consistently maintained that while it is committed to the formation of a separate state of Telangana, it also wanted the concerns of the Seema-Andhra region to be adequately addressed. Oddly enough, Sushma Swaraj did not press this issue in the Lok Sabha on Tuesday. Anita Katyal reports.
Raghuram Rajan speaks on the unscheduled rate cut.
These plans aren't likely to put substantial cash in your hands.
'The chair is a referee in a match, whether this side is playing better or that side is playing worse is no concern of the chair.'
Indian economy about to take-off
The corporate sector does not care from where the money is coming.
Eminent business journalist and author Tamal Bandyopadhyay discussed Budget with rediff.com readers on Tuesday.
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