Blaming Congress for delaying Goods and Services Tax, Prime Minister Narendra Modi on Thursday attacked the main opposition party alleging the "hawalabaaz are unnerved" due to the tough stance of the government on black money and are putting "roadblocks" in the reforms agenda.
Addressing public rallies at Barnala chowk and Bhawanigarh in Sangrur, the chief minister vowed to do whatever it takes to protect the farmers and the state from the 'devastating' effects of the 'black laws'.
Experts share their views on the steps that will help businesses become GST-ready.
For any proposal to be cleared, it has to get 75% of the vote.
Companies are worried that any staggered roll-out of GST could result in cash flow issues with businesses not able claim tax credit due to breakage in the chain
Delivering the key mote address at the Citi's Investor Summit, Jaitley hoped that as a professional organisation the Reserve Bank will take 'the best decision'.
A moderate GST rate obviates the need for the two-rate structure.
Asian Paints was the top gainer after the paints major posted robust first quarter earnings.
Parliament on Thursday cleared the decks for the rollout of the historic Goods and Services Tax from July 1 as it approved four supporting legislations to usher in the one-nation-one-tax regime.
Economic reforms seem to be on a slow train, while good old fiscal populism is alive and flourishing.
The BSE Mid-Cap index was currently down 1.25%
Congress leaders in the upper house called CAB unconstitutional, 'arbitrary executive fiat' to push Hindutva agenda.
Addressing the members of the House, Singh said agriculture is a state subject but the Centre ignored it. "I find it very strange what the government of India wants to do," he said.
With less than five months left for the report of the Fifteenth Finance Commission to be submitted, its chairman N K Singh said the report will have fiscal road map for states, depending on their current situation.
Rediff.com does a quick checklist on what the two manifestos have to say on hot-button issues of the day.
States also demanded that Budget for 2015-16 should make adequate provisions for central sales tax compensation for early roll out of Goods and Services Tax, a Constitutional Amendment Bill for which was tabled in the Lok Sabha last week.
On Wednesday, the rupee had dropped by 26 paise.
References to the repealed laws for service tax, purchase tax, etc, continue in the SEZ laws.
The Sensex ended higher by 245 points at 27,372 mark and the Nifty gained 66 points at 8,225.
The North-West is expected to be hit the most.
Congress is opposing the GST bill in the current form.
The Bills pertaining to the introduction of a new law and amendment to the Constitution will not be tabled in the coming Budget session of Parliament. finance minister Pranab Mukherjee and state finance ministers will meet in April to decide a new date for the GST rollout.
At a press conference after a meeting of the party's senior leaders, K C Venugopal said the Congress will also launch a massive signature campaign in which it aims to collect two crore signatures from farmers and the poor people against farm bills.
'A major thrust is required by the government to stimulate rural demand'.
The GST has been a great achievement, but it does suffer from weaknesses, says Chief Economic Adviser Arvind Subramanian.
For his first Budget in July 2014, Jaitley inherited a fiscal deficit target of 4.1 per cent of GDP. From 4.1 per cent, the fiscal deficit came down to 3.4 per cent by 2018-19, with two slippages from the budgeted targets, in 2017-18 and 2018-19, the former due to introduction of the GST, says Arup Roychoudhury.
'The role of Parliament is to hold the government of the day, whichever party is in power, accountable for its actions, policies.' 'The amount we are wasting on Parliament is a very miniscule amount. But the cost of delay in policy-making is huge and that affects the entire nation.'
Finance Minister Arun Jaitley accused Congress of setting a wrong precedence for future opposition parties by continuously disrupting Parliament.
Sectoral performance was mixed with media and PSU banking stocks attracting buyer interest and healthcare, FMCG and metal stocks bearing the brunt of the bears
Years of wait before DTC, GST are rolled out
The current draft of the Goods and Services Tax could kill any hope of economic revival - and you should blame the Congress if it rolls over and lets it pass, says Mihir S Sharma.
The prime minister is aware that whatever be its consequences, a new taxation regime cannot be launched closer to the general elections in 2019. Thus, any date after April 2017 for the launch of GST is risky, says A K Bhattacharya.
Narendra Modi government's reform agenda is under threat of washout.
Petrol attracts a total excise duty of Rs 17.46 per litre.
Experts have started giving comments on provisions that the govt must make in Budget 2016-17.
The rupee had recovered by 8 paise to close at 66.91 in Tuesday's trade.
Taxpayer satisfaction is a part of the matrix of key performance indicators of the administration.
Pradhan Mantri Jan Dhan Yojana and Make in India -- are not covered here.
It would also be the last policy of Rajan
At its last policy review, the central bank left policy repo rates on hold at 7.25 percent, tying future cuts to inflation outlook.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances