Investor confidence, in general, in the world is weak and that has spilled over in India.
In an interview with Business Standard, he says investments would pick up and inflation would fall in the next financial year, providing the Reserve Bank of India the room to cut rates.
T C A Anant, the Union government's chief statistician, thinks global rating agency Standard & Poor's (S&P) does not fully understand our economy's structure, comprising a large unorganised sector as well.
Others may be gung-ho about food inflation falling into the negative territory, but not former chief statistician Pronab Sen.
Interview with Professor, Stanford University.
He says though agriculture and industry would get a fillip in the second half of this financial year, a complete economic revival is expected only in 2013-14.
Nandu NandKishore, executive vice-president Nestle S.A., discusses the challenges the company faces in India and future plans for the country.
Infrastructure projects were the top picks for MPs, with 40% of the total funds spent on the development of railways, roadways, pathways and bridges.
This will be an upfront payment for the vaccine doses that these two companies will supply to the government.
Changes in I-T rules kick in today; to help govt track taxpayers' income, reports Dilasha Seth.
'India will jump 30-40 places in the World Bank ranking of ease of doing business next year.'
Whether or not such an overhaul will be carried out depends on the government's comfort level.
States should have enough time. We still do not know the rules. There are a lot of operational difficulties, says Jammu and Kashmir Finance Minister Haseeb Drabu.
'Personal income tax collections have been high on account of impressive advance tax mop-up.'
Downloading songs, movies, books? You may have to pay tax on it.
Assocham president Niranjan Hiranandani said his talks with government officials showed dues to industry and states were pending in the form of refunds of income tax, value-added tax, and GST, and compensation, payments to discoms in the power sector, fertiliser subsidies, etc.
Adjusted for inflation, the earlier scheme would have collected Rs 25,000 crore.
'Day by day, the queues will shorten.'
'There is something fundamentally wrong with the GST -- whether be it the rates, compliance, or the GST Network itself.'
The vacancies are learnt to be impacting the I-T department's day-to-day functioning.
It was found the declarants were persons of suspicious nature and very small means, and the declarations could have been misused.
'Our stable outlook currently points to the fact that the ratings are likely to remain stable for the next couple of years.'
'The kind of tax which will be generated from the second pillar may far outweigh what we may be losing in the first pillar.'
Limited IT staff may compel them to focus on big fish than small depositors.
The Budget proposed abolishing the under-performing, authority of advance ruling, to replace it with a two-member board of advance ruling.
'We will not compromise on it. We will not make any deferred payments or cuts.'
The FIEO on Thursday reiterated that the Customs authorities at several ports in India had ordered a sudden examination of Chinese consignments without any official word from the government, and this may have led to the Chinese retribution.
The government will assess how cash deposits after the demonetisation could be brought under the tax net, says Revenue Secretary Hasmukh Adhia.
The aim of the exercise was to further simplify GST forms and make the filing process more user-friendly, the finance ministry said in a tweet, reports Dilasha Seth.
'However, this time it looks like that is not working.'
CBDT feels 30% growth in income-tax not feasible.
Information gathered from a person's social media account will be matched with his or her declared income.
Rahul Gandhi, who is scheduled to again visit poll-bound Gujarat from Saturday, said the government can't break the back of small and medium businesses, crush the informal sector and destroy millions of jobs.
'Investigation directorates have intensified actions in detecting serious irregularities.' 'They are seriously handicapped because of non-availability of manpower.'
Petroleum being out of the goods and services tax initially will create some anomaly as tax credit on some of the inputs to oil industry may not be given, said revenue secretary Hasmukh Adhia.
'At the end of the day, we want to see maximum items out and only few items remaining in the 28 per cent slab.'
'Significant reductions in the compliance obligations mean businesses earlier struggling to comply will now have enough time to prepare and comply within the extended timelines.'
The number of centrally sponsored schemes have increased to 35 in FY22 from 30 in FY21 and central sector schemes have increased to 704 from 685 in the previous year, reports Dilasha Seth.
'It is just an excuse to say that the Centre has run out of money.' 'Pruning these schemes would mean hard time for the people of India.'
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