However, the government is readying a relief package and it could include a cut in the licence fee to 5 per cent, two years' moratorium on paying spectrum charges with interest, and referring the GST tax refund issue to the Council.
Precious ornaments are estimated to become 3% costlier under GST
On one hand, South Indian states have been complaining about denial of a proportionate portion of the sharable funds from the Centre, based on population. On the other hand, they stand to lose Lok Sabha and Rajya Sabha seats that again are based on population, points out N Sathiya Moorthy.
If he expects the states to take steps for controlling inflation, he should also respect the country's federal structure and not assume a veto power at the GST Council.
He died at AIIMS in New Delhi at 9.45 pm, hospital sources said.
Bharat Krishak Samaj demanded that the Pradhan Mantri Fasal Bima Yojana should be replaced with a new crop insurance and compensation scheme.
'The prime minister's announcement of a nation-wide shutdown was eloquent, but should have been more clearly phrased to avoid police overreach.' 'Migrant labour should have been allowed adequate notice and transport options to get home,' notes Rahul Jacob.
Fiscal federalism should not be sacrificed at the altar of GST.
'The only way to minimise logical inconsistencies and confusion is to develop the two rates of 12% and 18% as the ones that apply to almost all items.' 'At a later stage, these two rates could be merged into a single rate,' advises T N Ninan.
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.
Most of the pharma units are failing in documentation, and validation processes, and many don't have full-fledged quality control laboratories.
Raghuram Rajan optimistic about passage of GST
'You may see some movement indicating a simpler tax regime with less exemptions but with fewer tax rates making life simpler for taxpayers.'
The lack of clarity on who is next in line, when the time comes, as indeed it will one day some day, reflects poorly on the management of the world's largest political party. It scarcely need be said that a squabble between the contenders, Shah and Yogi, is exactly what the doctor ordered for the Opposition, notes Krishna Prasad.
A hike in cess on luxury cars will not only hinder Jaguar Land Rover's network expansion but also prevent it from introducing new technologies in India, JLR India managing director Rohit Suri tells Shubham Parashar in an interview.
'Non-separation of religion from politics is India's most daunting challenge'
After the Covid-19 pandemic that derailed the economy since 2019, the Durga Puja festival in West Bengal is back with an estimated 20-30 per cent jump in festive spending. Retail sector is the key contributor to the state's Durga Puja economy which was Rs 32,377 crore in 2019, according to a British Council study conducted for the state government. Retail accounts for 85 per cent of the total puja economy and the rest is shared among pandal making, decoration, illumination, entertainment, advertisement, food & beverage and others.
A bench comprising Chief Justice Uday Umesh Lalit and Justice Bela M Trivedi said it was sitting in a combination of two and according to a reference order on the matter, it should go before a bench of three judges for disposal.
India's growth presents a win-win partnership for the country and the US, and American companies have a great opportunity to contribute to that, Modi told the CEOs.
Export growth picked up mainly owing to rising global crude prices, which pushed up processed petroleum exports by nearly 40 per cent, apart from a broad-based improvement in exports of major foreign exchange earners such as engineering goods and gems and jewellery.
Raja clarified that he had only watched clips of the movie on his mobile phone and said he did not have the patience to sit through a two-and-a-half hour film.
Group of ministers to review progress every fortnight.
Experts have flagged issues regarding the levying of new cess/tax, especially those related to complications in administering the cess.
As per SIAM data, vehicle sales across categories, including passenger vehicles and two-wheelers and commercial vehicles stood at 18,21,490 units last month as against 23,82,436 units in August 2018, a fall of 23.55 per cent.
'If because of El Nino, the monsoon is affected adversely in the current year, naturally it will affect income projections and consequently Budget numbers.'
He also took potshots at opposition parties' decision to observing November 8 as a 'Black Day', saying the move displays their faith in cash economy.
Finance secretary Ajay Bhushan Pandey on Sunday hinted that the government was working on another stimulus package but he refrained from giving a timeframe.
Congress is opposing the GST bill in the current form.
'I want us not to underestimate Indian voters. They can tell good work from bad.'
Drabu said the GST regime will roll out in the state at midnight on Friday, making Jammu and Kashmir the last state to join the new tax regime.
The rates of price rise in many services used by the common man, including hospital and nursing, cook, domestic help and bus (fare), among others, have also touched double digits during the last four years, putting a burden on disposable income.
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.
Extending losses for 7th session, Nifty fell below the 8,000 mark for the first time since Nov 25
Cash flow-based analysis should throw up businesses better able to survive the transient effects of a working capital crunch, says Devangshu Datta.
Financials were the top losers after sharp gains in the previous session along with ITC
The system has gone through three rounds of testing for its load-bearing capacity.
In a resolution passed at its national assembly in Haridwar, the SJM said the Modi government's proposed strategic divestment of PSEs was an "imprudent business decision" and "against national interest".
7 key areas that the Budget must address to re-energise the infrastructure sector, suggests Vinayak Chatterjee.
The NSE Nifty settled the day 96.80 points, or 0.94 per cent lower, at 10,224.95
Aditi Phadnis predicts frequent stand-offs between the Centre and states in the future.
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