'While the GST is structured to be an all-encompassing tax and to create a vastly expanded digital network of recorded transactions, no one knows how traders long used to avoiding taxes will apply their ingenuity,' says T N Ninan.
Being mandatory, these recommendations will have to be immediately built into the Budget for 2015-16.
He also underlined that activism has to be blended with restraint and there cannot be a compromise with other aspects of the basic structure in the name of judicial independence.
'We have to stop thinking about GDP and look at the impact on output and unemployment.' 'And that is not going to be insignificant.'
The new government has to make conscious efforts to rebuild social equality and bring the people together.
The illicit financial inflow of $770 billion was 14 per cent of India's total trade of $5,500,744 million, the report said.
Four decades of federal evolution made India more secure, but coronavirus is reversing that. Modi's central government has tasted power again and is unlikely to give it up, notes Shekhar Gupta.
FIXES BY THE GOVERNMENT: Energy price fixed, tax issues linger.
'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.'
Policy discussions now should urgently focus on the road map for serious economic and institutional reforms to put India on a sustained high growth trajectory like the Chinese economy, says Jayanta Roy.
For stressed loans, the need is to prevent disruption in cash flows from a systemic perspective, conserving employment and assets in untainted enterprises with the potential for recovery, says Shyam Ponappa.
Here's the full text of President Ram Nath Kovind's address to the nation on the eve of 71st Republic Day.
Younger party leaders are livid with the Murli Manohar Joshi-headed manifesto drafting committee for not taking their suggestions, reports Archis Mohan.
Markets gained for the second straight session to kick-off the September F&O series on a robust note.
Urban markets account for the major share of total revenues.
Government strategists are trying to ensure that the requisite 16 of the 31 states ratify the Bill by the end of this month
ICICI Bank was the top gainer after stable rating for its senior unsecured bonds by S&P Global Ratings.
During his time as executive chairman, the company's net revenues grew 17-fold to Rs 42,777 crore and profit after tax nearly 40 times to Rs 10,289 crore. Total shareholder returns grew at a compounded annual rate of around 20%. Besides numbers, his biggest achievement was to transform ITC from a cigarette company to a diversified enterprise.
Google of food, Zomato is keen to do more acquisitions in 2015.
He said that India will work with Singapore to bring the Regional Comprehensive Economic Partnership to early conclusion. He also said the India-Singapore Comprehensive Economic Cooperation Agreement has been reviewed and the two sides will work to further upgrade it.
Modi said there was a time when families would celebrate getting gas connections as if they have got home a Mercedes.
'The recalculated ranking showed India should have had a higher ranking earlier (113 in 2012 instead of 132) and lower ranking later (114 in 2018 instead of 100).' 'This would mean that there has been no change in India's climate of doing business across two regimes.' 'This is exactly consistent with the reality on the ground,' observes Debashis Basu.
At 11:37 am, the S&P BSE Sensex was up 28 points at 27,037 and the Nifty50 was up 2 points at 8,268
By castigating the reforms themselves because of the remediable and reversible defaults here and there in carrying them out, Yashwant Sinha is throwing out the baby along with the bath water, says B S Raghavan.
The finance minister is "reasonably confident" that when it comes to the crunch, "it would be extremely difficult even for the Congress party to take a contrarian view" on the GST Bill.
Prime Minster Narendra Modi's op-ed in the German daily Frankfurter Allgemeines talks about development, New Age India and his 'Make in India' campaign. Here's the complete text of the column.
No country has grown without educating its people. India's shameful lag in primary and secondary education has persisted for several decades, and the crisis in higher education is now threatening a social and political calamity, says Ashoka Mody.
Donald Trump, Hardik Patel, Kangana Ranuat... The year 2017 wouldn't have been the same if it weren't for these personalities and many more. As we herald in 2018, here's a look at the faces and stories which left an indelible mark on us.
Instead of a consumption stimulus the government must address the NPA issue with a war footing and invest in infrastructure, affordable housing and exports, says Sanjeev Nayyar.
'You have to tear it all down if you want to build something new tomorrow.'
'Modi has shown political courage by instituting several economic reforms which include demonetisation, ushering in GST, eradication of benami transactions...'
'Who would want to be the man nominally in charge of driving the economy when your boss orders you to swerve it into a ditch of unknown depth?'
'Demonetisation demonstrates that this government is simply too amateurish in terms of economic policy-making to properly address India's deep, deep problems,' argues Mihir S Sharma.
The biggest challenge on policy front is the fight against the perception that a small number of big corporations do cosy deals with the government.
'Modi should not feel shy of proclaiming as the meaning of secularism regard for all religions in proportion to their numbers in tune with the spirit of democracy and adopting it as State policy,' says B S Raghavan.
Biju Janata Dal members had staged a walk-out while NDA ally Shiv Sena did not participate in the voting.
Economic reforms seem to be on a slow train, while good old fiscal populism is alive and flourishing.
UDAN demonstrates that good policy-making can fulfill important public requirements without requiring budgetary support, says MoS for civil aviation Jayant Sinha.
A simple guide to the strange defensiveness of the government and its supporters, and how and why the arguments they're making are wrong.
Nirmala Sitharaman has a God given opportunity to orchestrate a transformation in India's defence capabilities. One hopes she has her own counsel and does not overly let the PMO run her ship, says Group Captain Murli Menon (retd).
Like Mr Trump, says Kanika Datta, politics tempts many businessmen.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances