'Otherwise, how is the government going to make more revenue?' 'The most important thing the GST does is to transfer money from the household consumers who are the most productive users of capital to the most unproductive users of capital, namely the government.'
In a Q&A with Doordarshan, Jaitley discusses how he chose the areas on which he would spend more.
The panel will also recommend a fiscal consolidation road map for the central and state governments, study the impact of GST on the divisible pool, and propose performance-based incentives for states.
This is the Centre's highest-ever budgeted capital outlay.
Anyone who has specific and definite information on black money can share it with Supreme Court-appointed Special Investigation Team going into the issue that can crack down on those stashing money abroad and at home.
In July, IRS officers in Mumbai held an incendiary meeting where they criticised the alleged interference in 'operational matters' by the department of revenue.
The minister said any declaration made under the law will be protected
While most experts suggest the government loosen its purse strings and not worry about the fiscal deficit in a pandemic impacted year, it will be a tightrope walk for the government to increase spending without going overboard.
'Coupled with e-filing procedures it would really enhance the ability of the judiciary to provide speedier justice.'
In the concluding article of a six-part series, Business Standard visits Ludhiana, one of the largest industrial towns in Punjab, to assess the effect of demonetisation.
'The actual price of petrol is Rs 35 and it jumps to Rs 88 because of government taxes.'
Mohandas Pai took part in an hour-long chat on rediff.com
It is time to take a few macroeconomic risks to kick start the growth.
Meet Jasmeet Singh Sandhu who ranked third in the Union Public Service Commission exam this year.
With Jaitley preferring continuity over change, good days might take a little longer to arrive, says Shankar Acharya.
If GDP growth in Q2FY18 remains below 7%, the outlook for Samvat 2074 would remain uncertain at best, says Nitin Desai.
That resulted in a 50-basis point improvement in operating profit margins on a sequential basis.
Ishan Bakshi studies the Budgets of six states, their expenditure priorities and outlays to understand the trend.
'Debt mutual funds are a good option now because interest rates are coming down.' 'Retail investors must put a majority portion of your money in short-term debt funds (1 to 3 years) and only a small portion in actively managed dynamic funds.'
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.
'I expect fourth quarter GDP growth to be sharply down.' 'I would imagine it would shave off at least one percentage point, if not more, as compared to the third quarter.'
The panel decided to omit the reverse charge mechanism (RCM) clause from the GST law under which registered taxpayers buying from unregistered taxpayers have to deposit the GST.
Why do I want to bring corporate tax from 30 per cent to 25 per cent? I have to attract investment in this country -- not just international but domestic.
Has the Modi government been more at odds with institutions than other governments? There is no doubt that there have been more run-ins. While the RBI and CBI cases have drawn attention, there have been others, less publicised, Subhomoy Bhattacharjee points out.
'Internet, healthcare and life insurance are a few sectors which offer solid long-term decadal potential.'
If imputed inflation for April and May is used, then you have inflation of over 6 per cent for two consecutive quarters, which is a worrying signal for the RBI.
The industry status will help the sector access bank lending at average interest rates
Finance Minister P T R Palanivel Thiagarajan has proclaimed his determination to set Tamil Nadu's fiscal house in order in five years, and Friday will show how he plans to go about it when he rises to present the Stalin government's maiden budget, says N Sathiya Moorthy.
It is pegged at 6.8-8% by various economists, as compared to 6.7%.
'The Congress has no moral right to throw mud at others. The Gandhis talking of corruption sounds worse than the devil quoting scripture.'
The CAG has found that the Union government in the very first two years of the GST implementation wrongly retained Rs 47,272 crore of GST compensation cess that was meant to be used specifically to compensate states for loss of revenue.
Finance Minister Arun Jaitley said the inflation index would determine the nominal growth figure, and it is better to set modest targets and outperform them.
This Budget plans for an increase to 10.3% of GDP from 9.9%.
The rally in index heavyweight ITC has boosted the sentiment across the board.
The government has provided a long-term vision.
Sharma says efforts on to bring dissenting ministries on board eBiz platform.
A combination of farm loan debt waivers by state governments and the implementation of the pay commission award could entail some fiscal slippages and pose a risk to inflation
Much of the Q3 data will simply not be available for the CSO to factor in its calculation.
B L Agrawal, a principal secretary in the Chhattisgarh government, was arrested for allegedly bribing people to help him wriggle out of corruption cases pending against him, while J P Singh, a former joint director of in Enforcement Directorate, was held for accepting illegal gratification to favour the accused in the Indian Premiere League betting scam.
Here are highlights of the 68th Republic Day parade.
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