A record GST tax collection, an overhaul of the income tax return filing portal and the landmark move to scrap retrospective taxation have set the stage for the next level of reforms in tax administration that include bringing a framework for cryptocurrencies and rationalising the GST rate structure. With tax reforms such as faceless assessment taking roots, 2021 will go down as the year that pivoted the tax administration in a country aspiring to become the world's favourite investment destination. The task ahead is going to be a tough one as the tax department would grapple with taxing cryptocurrencies, rationalising Goods and Services Tax (GST) rates to shore up revenues and post June 2022, the scenario of how the GST revenue plays out for states without the Centre's support of compensation.
Byju's, says Anita Kishore, has given the founders of the businesses it has acquired the independence to operate separately and maintain their core culture.
The perception is rapidly gaining ground that though the chief minister is from the Shiv Sena, the government is being run by the NCP.
The newly-formed entity which will list on the NYSE as Eros STX Entertainment Corp, will remain listed on the New York Stock Exchange, with headquarters in both Mumbai, India, and Burbank, California, and has also got $125 million in fresh funding. The merger will not change the structure of Eros's Indian arm which is also listed on Indian stock exchanges.
People like Manmohan Singh and P Chidambaram, who as finance minister had fully supported the NPS, refuse to exercise their moral and political influence to try and stop Ashok Gehlot and others hell-bent on wrecking the states' finances, notes Virendra Kapoor.
'We are planning to send an unmanned mission prior to the man mission, in next two years.'
'In AAP, those who are in charge of a particular state provide information to Arvind Kejriwal. 'In the BJP, several organisations convey what is happening on the ground to the top leadership.' 'There are so many channels through which issues are being understood.'
However, independent economists are not as gung-ho as the finance ministry over the likelihood of deficit target being met this time around, says Indivjal Dhasmana.
'We get an overzealous army of tax inspectors pushing the economy too hard,' says Ajay Shah.
Charles 'Biharilal' Thomson, an Australian who speaks fluent Hindi, on how India has bewitched him.
Government believes privatisation would increase the airline's efficiency and make it profitable, enriching the value of the remaining stake with it.
Almost all infrastructure ministries continued spending on capex throughout the lockdown, even as the Centre tried to maintain some semblance of economic normalcy.
'The CEO will neither be able to guide the senior team in operational matters nor decide on their appointment, compensation or removal.' 'Yet, the CEO is responsible for the profit and loss of the bank!' 'Why would the senior executives listen to him?' 'Which self-respecting professional would want to be a CEO with these constraints?' asks Tamal Bandyopadhyay.
For the first, Jaitley said the Parliament held a comprehensive debate on sanitation.
Replying to the debate on the Finance Bill in Lok Sabha, the minister said he did not propose any change in the tax rate but only provided few rebates which will boost spending and help the economy.
Reaching out to the youth of the Kashmir Valley, Prime Minister Narendra Modi on Sunday spelled out initiatives for peace and development, and assured they will not inherit the problems faced by their parents and grandparents.
It is a record that the saffron party has created, where the majority of its legislators belonged to the minority community.
The Tamil Nadu chief minister may have opened a Pandora's Box on the religion front with the appointment of qualified non-Brahmin temple priests, observes N Sathiya Moorthy.
In its essence, GST is a national level system of value added taxation of goods and services, says Shankar Acharya.
'We still need a certain number of large public sector banks for financial inclusion and stability purposes.'
Observing that it is not yet clear to him what the government means by 'Atmanirbhar Bharat', Rajan said if it is about creating an environment for production, then it is a re-branding of the Make in India initiative.
With Narayan Rane, the BJP looks to expand its footprint in Mumbai and Konkan. But a perceived self-goal by him may have galvanised the restive Shiv Sena cadre and voters to coalesce around their party. Dhaval Kulkarni reports
A year marked by more lows than highs for Hindi cinema, here's a recap of the best and worst in 2021.
Mere shuffling of resources or cosmetic changes to prove a point would be counterproductive in the long run, observes Commodore Venugoptal Menon (retd).
Malaysian budget airline AirAsia moved a step closer to securing permission to launch operations in India, with Civil Aviation Minister Ajit Singh on Monday saying that all issues concerning the carrier's application have been resolved.
Kejriwal's centralised way of governance might work in Delhi, but Punjab will call for delegation, observes Sanjeev Nayyar.
We should have anticipated it on August 5 last year, when we made the big changes in J&K. Amit Shah left nothing to chance when he told Parliament that 'we will bring back Aksai Chin even at the cost of our lives'. 'Then, there were the new maps, objections to the CPEC going through Indian territory, the weather reports.' A broad territorial status quo had existed in Ladakh-Aksai Chin since 1962. India made its intention to change this public, notes Shekhar Gupta.
Government is expected to rely more on divestment proceeds to keep the fiscal deficit in check
A day before the start of the Budget session of Parliament, as many as 18 opposition parties, led by the Congress, the Nationalist Congress Party, the Shiv Sena and the Trinamool Congress, decided on Thursday to boycott the President's address to the joint sitting of both Houses in solidarity with the farmers protesting against the new farm laws.
It is a tribute to India's democracy, however flawed, that the very same MPs who had harangued her intermittently from Opposition benches now surged towards her, anxiety writ large on their faces. One offered her some homoeopathic tablets, another advised her to stay seated, another grasped her hand wishing her good health... the crowd parted as Prime Minister Narendra Modi strode up to congratulate her. But it was mostly well-wishers from the Opposition and the NDA that kept the finance minister cocooned with good wishes until it was time to leave, reports Aditi Phadnis.
The foremost lesson is that technology has got commoditised.
Shravin Mittal's venture capital firm, Unbound Advisors, has made investments worth over $500 million so far
But use of that word -- privatisation -- is not encouraged. This seems to be a classic case of reforms through subtle signals, observes A K Bhattacharya.
'In May 2020-2021, nearly 10 crores (100 million) lost jobs. 'Covid is not the reason for the present crisis. It aggravated the crisis.'
Assessing the shape of the Indian economy just a couple of days ahead of the Union Budget for 2016-17, Saugata Bhatacharya, senior vice president and chief economist, Axis Bank, speaks about his budget wishlist and suggests measures that can help finance minister Arun Jaitley achieve the targeted fiscal deficit of 3.5 per cent of India's gross domestic product.
A day after his ministry rebuked Twitter for not complying with its orders to take down inflammatory content, Information Technology Minister Ravi Shankar Prasad said social media platforms cannot give differential treatment while handling problems on Capitol Hill and the Red Fort.
Bank strike continued for day-two on Tuesday, led by nine unions of public sector banks (PSBs) in the country, opposing government's policy to privatise the lenders. Customers will be inconvenienced to get services such as cash withdrawals, deposits, cheque clearances, remittance services. Government transactions related to treasury as well as business transactions will also be impacted. United Forum of Bank Unions (UFBU), an umbrella body of nine unions, had given a strike call for March 15 and 16.
The railway minister has steered clear of populist traps and refrained from making grandiose announcements in terms of new trains and new rail routes. He should now emulate China, and rope in Japan in boosting the rail network, says Rajeev Sharma.
Yearend special: Some of the finest and most feted films of the year that deserved wider audience!
Government may bring a new law on black money during the ongoing Parliament session.
