Given the many policy areas where the Centre and the states have not been seeing eye to eye in the last few years, it is time the Modi government convenes a meeting of the Inter-State Council, recommends A K Bhattacharya.
The Centre has projected reining in its fiscal deficit at 3.3 per cent of GDP in FY19.
Earlier in May, Ford India announced that it had dropped its plans to make electric vehicles (EVs) in India, which it intended to export, under the production-linked incentive scheme (PLI). Ford was among 20 companies that had signed a Champion OEM Incentive Scheme under the PLI project with the government in February this year. The decision comes as a blow for the 4,000-odd employees at Ford India's Maraimalai Nagar plant near Chennai and in Sanand, Gujarat. In September last year, the company had announced that it would exit the India market, which it had entered in 1995 through an on-again, off-again joint venture with Mahindra & Mahindra (they split in 1998, signed a JV in 2019 and split again in December 2020), retailing petrol and diesel brands such as the EcoSport, Figo, Aspire, and Endeavour.
With exporters' claim for over five months still pending, liquidity has been wiped out and the process of finalising new contracts has been held up.
While okra was being sold for Rs 100-120 a kg and cauliflower for Rs 120-140 a kg in Mumbai and its suburbs, all other vegetable prices have increased by almost 100 per cent since July 20.
To propel demand, one should concentrate on indirect taxes and bring down the goods and services tax (GST) rates to a uniform 12 per cent as the Vijay Kelkar panel had recommended, said Ajit Ranade, chief economist at Aditya Birla Group.
While the government has not made the report public, sources said the panel had recommended a sharp cut in all taxes on the gold business, including import duty and goods and services tax which amounts to over 13%.
Hindi film industry hopes to get some tax relief from the upcoming Budget 2015-16.
Businesses are still taking time to adjust in the new tax regime, which would weigh on growth rates for the financial year closing today.
Govt could cut the GST rate payable every time someone buys a health insurance product; or it could also provide a larger income tax set off for those who buy a health insurance product
The theatres will start functioning from Friday with the ticket prices set to go up from the present maximum of Rs 120 with the addition of 28 per cent of Goods and Services Tax.
This is good news for the central government at a time when crude oil prices are rising.
'The BJP certainly has an edge as the BJP has gone ahead of the Congress in pleasing the trading community.'
The government has provided a long-term vision.
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The Direct Taxes Code bill was introduced in Lok Sabha in 2010 and Standing Committee on Finance has given a report after its scrutiny.
Official sources say that the finance ministry is aware of the possible spike in smuggling activity and has already asked intelligence agencies to tighten their vigilance and come down on the unofficial entry of gold into India.
They were participating in a debate on the bill for giving effect to various compliance relief measures for taxpayers, including extending time limits for filing returns, in the wake of the coronavirus crisis and tax benefits for donations to PM CARES Fund.
India's tennis players -- both current and former -- are not just counting financial losses as they cope with the fallout of the coronavirus pandemic. The closure of the Pro Tour means that doubles exponent Purav Raja is set to lose at least $50,000 in this lockdown period, according to his own assessment. Prajnesh Gunneswaran, Jeevan Nedunchezhiyan and Divij Sharan can't exactly tell how much they would lose but considering the fact that they are consistently in contention to be in Grand Slam main draws, the massive financial hit is not difficult to assess.
Party justifies total washout of day's proceedings in Rajya Sabha, citing Dalit atrocity, insult to Congress CMs and the GST bill.
The sector employs around 1 million skilled and unskilled workers directly and indirectly and decline in exports is a major worry for participants in the value chain.
A combination of externalities such as global trade wars and slowing growth, continuing glitches in accessing offsets under the GST regime, which has created a liquidity crunch for smaller exporters, and the growing competitiveness of smaller countries are causing the slowdown.
He alleged that the people of Madhya Pradesh were 'befooled' by the saffron party as there was no council of ministers or a health or home minister in place in the state amid the crisis due to the coronavirus outbreak.
The proceedings of the House were almost washed out as it could not take up any legislative business.
India is the second largest buyer of Iranian crude, after China.
From opposing the NPR and NRC to demanding special status for Bihar to staying out of the Union Cabinet on principle to showing the BJP who was boss in Bihar, Nitish Kumar has wasted no opportunity at cocking a snook at the BJP leadership. But how long can he continue, asks Gopal Krishna.
The mandate will help further the development agenda in these states, with good governance and policy reforms taking centrestage
As the liquidity crunch reaches crisis levels and getting tax refunds remain a big headache, exporters saw orders fall by 15 per cent till October.
It was not immediately known if Modi acceded to Jaitley's request.
De-scaling of businesses, job losses and subsequent impact on disposable incomes has created negative sentiment among traders, business owners and workers alike, says Abhishek Waghmare.
Going ahead, the likely implementation of the goods and services tax bill in July and how the monsoons play out will have a bearing on India's demand for gold and gold jewellery
'We are going to have a recession this year, maybe next year too...'
The industry alleges the government has been apathetic, despite their pleas for quick action. However, H2 may be different as The US-China trade war had opened a window for Indian exporters to ship more to America.
Jewelers also want import duty on gold to be reduced from the current 10 per cent to at least 5 per cent.
'The growth drivers are mostly invisible, but the growth is undeniable at least for now,' notes Debashis Basu.
Mandatory hallmarking of gold would be a positive in making the gold market more organised. Mandatory hallmarking would come into effect from January 15, 2020, with a one-year transition period for trade to sell existing inventories. Experts also expect more policy measures next year to bring in more transparency in terms of gold as an asset class.
Modi said that the Rajya Sabha gives an opportunity to those away from electoral politics to contribute to the country and its development.
Jaitley said India needed to grow by additional 1-1.5%.
In an interview with Rediff.com Puducherry CM spoke about his plans for the state, Rahul Gandhi and his daily friction with the lieutenant governor.
'The macro-economic stresses -- high interest rates, rupee depreciation and capital flows -- have receded now.' 'Interest rates have come down, inflation is down and the rupee has bounced back.' 'If oil prices continue at this level, there will be no vulnerability.' 'Growth is a different story.'
Particularly hit has been the apparel sector, where the time taken by the industry to adjust to the Goods and Services Tax regime, downward revision of export incentives, and a credit squeeze faced by small and medium scale enterprises, has pushed production downwards.
