GST will make it easier for governments to spend more, says T C A Srinivasa Raghavan.
Protesting Congress members had on Tuesday too blocked a debate on the bill. The monsoon session ends on Thursday.
Political observers say Banerjee is fast emerging as the face of the Opposition and would be a force to reckon with in the next general elections in 2019.
'...for at least 6 months and give them peace of mind to get back on their feet.' 'Entrepreneurs are suffocating and not able to run their companies peacefully.'
Prime Minister Narendra Modi was elected last year on hopes he would revive a languishing economy.
'The finance ministry and the RBI will never admit to the difficulties in the economy because if they do so, it will adversely impact the financial markets, etc.' 'They like to present a rosy picture that everything is fine and under control.'
During the meeting with Finance Minister Nirmala Sitharaman, the auto industry broadly presented factors such as issues regarding availability and affordability of financing, increasing cost of acquisition of vehicles and change in axle load capacity for commercial vehicles that have hurt demand.
Consumption of petrol and diesel will contribute more than half of the Centre's exclusive share in GST in FY20, reports Abhishek Waghmare
'2017-2018 will be one of the best years for the country.' 'The wheel has finally started moving in the right direction. It should pick up momentum in the next 8 to 9 months to have a positive impact on the economy'
Apart from the chief minister and deputy chief minister, 13 cabinet and 10 ministers of state were allocated portfolios.
Sinha, a former finance minister, hogged the limelight and started trending high on social media on Wednesday morning, after he criticised his own government for sinking the economy, in an article he penned for The Indian Express.
Accounting for the first Advance Estimates for 2017-18, an additional planned borrowing of Rs 200 billion, the fiscal deficit could come in at 3.35 per cent of GDP.
Just as the mighty Bhim sacrificed his son Ghatotkach and Arjun sacrificed his son Abhimanyu in the battle against Kauravas, Yashwant Sinha must ask his son Jayant to sacrifice his ministerial office, says Sudhir Bisht.
The government on Monday announced a one-time Rs 10,000 interest-free festival advance to all its officers and employees as part of plans to increase consumer spending to spur demand in the economy.
"The government is wrong. It is wrong because it is clueless," Chidambaram said. "It is unable to look for the obvious clues because it is stubborn and mulish in defending its catastrophic mistakes like demonetisation, flawed GST, tax terrorism, regulatory overkill, protectionism, and centralised control of decision-making in the Prime Minister's Office."
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.
While presenting her 2021-22 Union Budget, Finance Minister Nirmala Sitharaman had set a fiscal deficit target of 6.8 per cent of nominal gross domestic product (GDP) against the 2020-21 Revised Estimate of 9.5 per cent. The fiscal correction in the upcoming 2022-23 Union Budget is unlikely to be that steep. Even as discussions among top Budget-makers are ongoing, the fiscal deficit target for 2022-23 may likely be in the range of 6.5-6.8 per cent.
Ramesh says that since the attitude of the Narendra Modi government is deliberately provocative and confrontational, it should not expect cooperation from the Congress.
At present, bank depositors get an insurance cover of Rs 1 lakh on their amount by the Deposit Insurance and credit Guarantee Corporation.
'The question is, how soon we can expect to re-attain the pre-lockdown levels of output and income.'
Broader market outperformed with the S&P BSE Midcap index adding 0.7%, while S&P BSE Smallcap index gained 0.6%.
The government on Tuesday extended the deadline for filing income tax and GST returns, raised the threshold of default that could trigger insolvency of a company, and waived charges on cash withdrawals from ATMs of other banks as a precursor to a broader stimulus package for the economy distressed by the coronavirus outbreak.
Finance Minister Arun Jaitley said government would continue reforms by taking executive actions.
Modi, after delivering his sixth straight address to the nation on Independence Day from the ramparts of the Red Fort in New Delhi, went into a brainstorming session with Sitharaman and all top officials in her ministry, sources privy to the development said. T
The finance minister is likely to announce the government's vision for a tax-friendly regime by raising the I-T exemption limit from the current Rs 250,000 per annum.
A Ganesh Nadar/Rediff.com attends Finance Minister Nirmala Sitharaman's presser in Chennai to tom-tom the government's achievements in its first 100 days in office.
To mark the anniversary of note ban, the Congress was observing a 'black day'.
The losses in state elections in Rajasthan, Madhya Pradesh, and Chhattisgarh have put the ruling party under pressure to announce swift measures aimed at addressing rural distress and lack of employment.
Jaitley was admitted to a private hospital in New Delhi on September 1 for surgery to manage a long-standing diabetic condition, and had originally been expected to leave after a few days.
Jaitley remained steadfast in not caving in to sustained Opposition pressure.
During the meeting that lasted one-and-a-half-hours, the prime minister asked his Cabinet colleagues to take up the "challenge" of reaching the message about the government's functioning to people through better connect with them.
The panel will also recommend a fiscal consolidation road map for the central and state governments, study the impact of GST on the divisible pool, and propose performance-based incentives for states.
In the four-paragraph letter, Jaitley said he had orally informed Modi about his desire not to be a part of the new BJP government to enable him to concentrate on treatment and health.
Never before has the need for creating an ambience for economic policy reforms been as critical as it is now, points out A K Bhattacharya.
While naysayers say the economy is on a downward spiral, optimists point out that India has experienced a shift of gears in the realm of policies, thanks to several initiatives of the Narendra Modi government, says Ashok K Lahiri.
'Under this government, tax laws have become more draconian, and the government itself is setting stiff, unrealistic targets for tax officials, who have got more powers to harass us,' points out Debashis Basu.
Expressing the government's commitment to continue with reforms, Finance Minister Nirmala Sitharaman on Thursday assured India Inc that it is ready to do everything required to revive and support economic growth hit by the COVID-19 pandemic. Stressing that there is a need to promote growth as it helps bring down poverty, she however said it would not be at the cost of inflation. RBI has been mandated to keep inflation at 4 per cent, with tolerance level of 2 per cent on either side.
As soon as the House met at 2 pm, papers were laid on the table and two resolutions adopted amid slogan shouting and protest by Congress members.
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.
'We forecast real GDP growth to moderate to 6.7 per cent in the year ending March 2018.' 'However, as disruption fades, we expect to see a rebound in real GDP growth to 7.5 per cent in the next fiscal year.'
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