The positive effects of demonetisation will be visible from April and the completion of remonetisation process will drive consumption going forward, Economic Affairs Secretary Shaktikanta Das said on Tuesday.
Finance minister tries to put house in order before reforms are unveiled in February.
In many ways, the 68th Republic Day parade was unique.
Reform ideas do not occur overnight and evolve over the years.
The bill was passed by LS last year and now it has to go back to the Lower House for incorporating the amendments approved by Rajya Sabha.
Aiyar has contended that this results in revenue loss, malpractices and even death of people consuming illicit liquor
The largest challenge for the gigantic exercise between the Centre and the 29 states was to keep the latter interested over the years.
Simpler GST structure will be key poll plank, Congress sources tell Archis Mohan.
The bullishness in the Indian stock market is likely to continue and the benchmark Sensex will reach 32,500 by December 2015, global brokerage firm Morgan Stanley said.
Most brokerages have maintained their Sensex and Nifty targets as they believe there is little room for further re-rating in the backdrop of weak earnings.
The government should have mentioned clearly the specific structural reforms that were responsible for the deviation from the fiscal deficit target by half a percentage point, says A K Bhattacharya.
He said the government has already begun implementing tax reforms.
The government now ends its mandate with reaffirmation in the vote-on-account of the same goals, for which it claims to have a clear line of sight.
The near term will be challenging, as most will struggle to adapt to the new regime.
"GST should not become a 'grossly scary tax'. It should be a 'good and simple tax'," Surjewala said.
GST implementation could happen in September itself, with the next meeting of the Union Cabinet likely to take up the matter.
The final rate will be worked out by the GST Council, Finance Minister Arun Jaitley said on Wednesday.
As per practice a vote-on-account or approval for essential government spending for a limited period is taken in the election year and a full-fledged budget presented by the new government.
Apart from Modi, Jaggi Vasudev to address 2-day tax officers' conference
The confidence that GST Network is capable of handling the returns, payments, reconciliation, refunds, etc., has been badly shaken.
GST seeks to subsume many indirect taxes at the Central and state levels.
There are high hopes that the Budget for 2014-15 to be presented in Parliament may actually not tinker with the threshold limit or the other tax slabs but could provide reliefs by incentivising savings.
The broader Nifty ended on top of 9,800 again.
...for others it would be an incentive to participate more robustly in equities and other tax instruments.
Experts have flagged issues regarding the levying of new cess/tax, especially those related to complications in administering the cess.
Education, jobs, health and more: Experts share their wishlist.
Listing out priorities for the Finance Ministry under Arun Jaitley and the Narendra Modi government as a whole, it said the growth rate can pick up to 6 per cent with the extent and pace of reform measures.
Even if the GST rate is 18-20 per cent, there would be no average impact on inflation.
Manufacturing taxes, VAT will come down, assures Jaitley
Make In India and the reduction in barriers of trade will potentially create a growth environment.
The Bill has already been passed by the Lok Sabha.
BJP workers and mourners queued up in large numbers outside the party headquarters since morning to pay their last respects to the leader.
An area of worry relates to simplification of the refund procedure where the inverted duty structure prevails
Others taxed at 5, 12, 18, 28%
'I don't know how long the small-scale handmade sector can survive,' a shoemaker from Hisar tells Geetanjali Krishna.
Listing three such 'unknown knowns', UBS said that these initiatives -- Aadhaar unique identity programme, GST tax reforms and a Dedicated Freight Corridor rail infrastructure project -- are real and their effects will be felt in the foreseeable future irrespective of which political party is in power after the elections.
The government is hopeful of passage of the GST bill in the winter session of parliament claiming 30 of the 32 parties have supported it.
Moody's has a 'positive' outlook on its 'Baa3' rating on India.
Jaitley promised the states that they would be fully compensated for any loss of revenue arising from implementation of GST.
The Nifty rose 176.50 points, or 1.74 per cent, during the week.
