'Right to apprenticeship means that anyone below the age of 25 years with a diploma or other qualifications can demand an apprenticeship with a private, a public sector company or a government organisation. And when he/she demands this, it is the obligation of the government to provide it.'
The economy may grow by around 7 per cent this financial year as estimated by the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI), say economists with various organisations. The first advance estimates for 2023-24 will be released on Friday by the National Statistical Organisation (NSO), an exercise done for calculating ratios such as the fiscal deficit. The interim Budget will be presented on February 1.
The richest one per cent in India now own more than 40 per cent of the country's total wealth, while the bottom half of the population together share just 3 per cent of wealth, a new study showed on Monday.
Though FDI inflow has been on the rise in the past three years, it is mostly on account of services
There is mutual invoice matching which ensures reason why GST was brought in first place, says Adhia.
Under the GST regime, most manufactured goods will turn cheaper.
Following passage of the Constitution Bill, 2014, Dass and Finance Minister Himanta Biswa Sarma, who introduced it in the House, exchanged sweets.
They are evaluating realignment of warehouses and supply chains, besides exploring locations to set up hubs and shutting down some distribution centres
The Congress, however, said it wanted to see the final print on the wording of the dispute resolution mechanism before committing its support to the Bill
Tax experts said historically in July and August indirect tax collections remain subdued and pick up with the onset of the festive season post Ganesh Chaturthi.
The richest one per cent in India now own more than 40 per cent of the country's total wealth, while the bottom half of the population together share just 3 per cent of wealth, a new study showed on Monday. Releasing the India supplement of its annual inequality report on the first day of the World Economic Forum Annual Meeting in Davos, rights group Oxfam International said that taxing India's ten-richest at 5 per cent can fetch entire money to bring children back to school. "A one-off tax on unrealized gains from 2017-2021 on just one billionaire, Gautam Adani, could have raised Rs 1.79 lakh crore, enough to employ more than five million Indian primary school teachers for a year," it added.
Chief Economic Advisor Arvind Subramanian spoke on a wide range of issues -- from GDP growth and fiscal consolidation to job creation and GST.
Analysts believe the GST could boost India's economic growth by up to 2 percentage points
The GST Council, headed by Jaitley and comprising representatives of all the states, is scheduled to meet in Srinagar on May 18-19 to finalise tax rates on different goods and services after unifying at least 10 indirect taxes into the Goods and Services Tax.
Linking businesses with account aggregator (AA) network -- a financial data sharing platform -- will help small entrepreneurs get easy access to credit and create millions of jobs, Infosys Technologies co-founder and chairman Nandan Nilekani said on Tuesday. He made the remarks during a session at the 'GSV + Emeritus India Summit' event in Gurugram. In the Budget for FY24, the government said that the GST system could join the account aggregator network, which means that every company in the GST system can ask for its data back which includes their tax filings and invoices, Nilekani said.
Most chief ministers are in favour of the new tax regime.
Fiscal federalism should not be sacrificed at the altar of GST.
Some may lose competitiveness due to higher compliance costs
The Bill was introduced in the Lok Sabha in December.
Bharat Krishak Samaj demanded that the Pradhan Mantri Fasal Bima Yojana should be replaced with a new crop insurance and compensation scheme.
Protestors urge President Droupadi Murmu to save the Aarey forest in Mumbai.
The Securities and Exchange Board of India (Sebi) might relax the disclosure norms around rumour verification to help smooth implementation and ease compliance amid pushback from India Inc, said people in the know. The rule has been notified following amendments to the Listing Obligations and Disclosure Requirements (LODR) by Sebi. However, its implementation has been deferred until February.
Indications are that the DMK combine will win more seats than the AIADMK and BJP, but is facing a tough fight in about half a dozen from the rest, predicts N Sathiya Moorthy of the electoral contest in Tamil Nadu.
He will succeed Kerala Finance Minister K M Mani.
Chartered accountant and commentator M R Venkatesh on why the GST Bill will cost the BJP dear.
The GST will also be applicable on the non-compete amount given by an employer to an outgoing employee, report Indivjal Dhasmana and Sudipto Dey.
Aggressive rate hikes by the US Federal Reserve could result in a flight of capital from emerging markets like India, says B Gopkumar, chief executive officer, Reliance Securities.
Even with the Rs 20,000 crore distributed among states, it will still be a fraction of what they have been demanding in financial support and clearance of pending dues.
Elections may be a few months away, but the government may get into election mode much earlier than that, predicts A K Bhattacharya.
Totackle the serious challenges faced by the banking sector, the government will bring in more professional management and boards in the banks.
Inter-state supply may come under GST composition
The banking system's liquidity slipped into deficit for the first time in the current financial year (2023-24) due to the imposition of the Incremental Cash Reserve Ratio (I-CRR) for banks and outflows from goods and services tax (GST) payments, according to dealers. Reserve Bank of India (RBI) data shows it injected Rs 23,644 crore on August 21. The last time liquidity was in deficit was on March 27, when the RBI injected Rs 45,575 crore.
Industry experts said the major pain point would be tax collection at source, which would create a rift between sellers and e-commerce companies.
'If because of El Nino, the monsoon is affected adversely in the current year, naturally it will affect income projections and consequently Budget numbers.'
Their favourite alternatives: Malaysia, Vietnam and the Philippines. Note, India is missing from that list. And this is despite an attractive financial incentive scheme for OSAT players. The reason, said a senior executive of a US chip company who had a meeting in Taiwan just a few weeks ago, is that "they want more predictability in government policy because they plan to put in big money."
Parliamentary Standing Committee on Finance Chairman Yashwant Sinha wants the government to first introduce goods and services tax (GST) at the central level and set example for states to implement the indirect tax reform.
Prime Minister Narendra Modi on Monday expressed confidence that the NDA will get more than 400 seats and the BJP will win at least 370 seats in the Lok Sabha elections.
On Tuesday, Bajaj Electricals extended its brand licence agreement with UK-based kitchen appliances major Morphy Richards, launching a new range of products. Chairman & managing director Shekhar Bajaj, cousin of industrialist Rahul Bajaj, tells Viveat Susan Pinto the company will increasingly focus its attention on its consumer products business.
Top Congress leaders from Karnataka led by Chief Minister Siddaramaiah on Wednesday held a protest in Delhi against the Centre over alleged injustice to the southern state in devolution of taxes, sparking a fierce slugfest between the party and the Modi government.
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