The broader 50-issue NSE Nifty dropped 38.35 points, or 0.38 per cent, to close at 10,186.60
Industrial output rose to nearly three-year high of 6.4% in August.
'The Indian economy is in slowdown and growth may stay slow,' notes Devangshu Datta.
Buoyed by about 19 per cent jump in tax collection, the government may further moderate taxes in the Budget with the Economic Survey on Monday prescribing a tax reform mantra to unburden India Inc.
This is a moment when the leaders at the Centre and states must show true leadership for the sake of the country. And it is the top political leaders, not attorney generals or bureaucrats, who should be sitting together and settling this thorny issue of compensation, says Arvind Subramanian, former Chief Economic Adviser to the Government of India.
Unveiling the economic agenda of the new government, President A P J Abdul Kalam on Monday promised massive public investments in agriculture and industry, encouraging foreign direct investment
It proposes to bring down the corporate tax from the current 35 per cent to 15 per cent, significantly lower individual tax rates, and eliminate several tax rates like the death tax.
GST will yield 'better value for money' for car buyers, increasing automobile industry demand, says Sandip Neogi.
Confederation of Indian Industry has demanded the removal of Fringe Benefit Tax and various other direct tax reforms
Hari Om Tulsyan, Chief Income Tax Commissioner of Mumbai, says that the government's tax collection arm is becoming slimmer and fitter with help of computerisation and is ready to face the era of globalisation.
The United Progressive Alliance government will continue tax reforms, Finance Minister P Chidambaram said on Wednesday.
'GST will increase the volume of taxation, there is no tax on tax and therefore makes goods, commodities and services little cheaper and far more convenient.'
After kicking off the Budget exercise early this week, Finance Minister P Chidambaram on Thursday had a brain-storming session with Planning Commission Deputy Chairman Montek Singh Ahluwalia on the state of the economy.
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Vijay Kelkar, who headed the committee on tax reforms, on Tuesday warned that higher economic growth and foreign direct investment flow could not be achieved without hard fiscal reforms.
Exports of food products can become a valuable growth driver for the Indian food industry
Hopefully, the budget will see tax exemption on pension plans go up to Rs 20,000 from the present Rs 10,000, as recommended by the Kelkar committee.
Analysts believe the GST could boost India's economic growth by up to 2 percentage points
Despite pressures from the Left parties to hike taxes on the rich and corporates, the Union Budget for 2005-06 is unlikely to be harsh on these sections while revisiting the tax structure to make it simple and compliant.
Federation of Indian Chambers of Commerce and Industry charted a roadmap for 8-10 per cent economic growth
The GST Bill, seen as single biggest tax reform in a long time, needs to be ratified by at least 15 state legislatures before the President can notify the GST Council which will decide the new tax rate and other issues
"There will be some challenges" in the switchover to GST in the short term, Finance Minister Arun Jaitley has warned.
Announcing his tax reforms Trump said his policies would benefit working families.
After 17 tumultuous years, a nationwide Goods and Services Tax (GST) will rollout from midnight of June 30, overhauling India's convoluted indirect taxation system and unifying the $2 trillion economy with 1.3 billion people into a single market.
In a major step towards tax reforms, the Centre on Tuesday agreed on a 3-tier system of compensating the states that incur revenue loss on account of implementing the value-added tax from April 2005.
Finance Minister Jaswant Singh said on Wednesday the value-added tax system cannot be implemented across the country until all preparations are completed.
Eminent NRI industrialist Lord Swraj Paul on Saturday stressed that the country should speed up privatisation, tax reforms and reduce corruption.
The empowered committee of state finance ministers is firm on sticking to the April 1 deadline for switching over to Value Added Tax despite the "friction" coming in the way from traders and a handful of states.
Stung by the low 4.4 per cent growth projection for this fiscal, the pre-Budget Economic Survey on Thursday endorsed Kelkar Panel recommendations on tax reforms besides a cut in subsidies and interest rates to deal with mounting and worrying fiscal d
The Union Budget is also likely to cut corporate tax and capital gains tax.
