Strongly opposing Kelkar Committee recommendations relating to tax on agriculture, Haryana Chief Minister Om Prakash Chautala on Monday said farmers were the highest tax payers in the country.
Hopefully, the budget will see tax exemption on pension plans go up to Rs 20,000 from the present Rs 10,000, as recommended by the Kelkar committee.
The approved 2005-06 plan outlay for the IA has been fixed at Rs 911.73 crore (Rs 9.117 billion), of which Rs 325 crore would go for purchase of these aircraft.
One hopes that the government will act on the Kelkar panel recommendations.
It is believed that the commission in its report has suggested higher allocation to the states during five years starting from next fiscal.
Stepped up public expenditure must be accompanied by focused policies, advises Vinayak Chatterjee.
While the PM sees zero tax on long-term capital gains and dividend income as unfair since the beneficiaries are not poor, he is silent on the fact that rich farmers too don't pay taxes, since farm income is tax-free, a loophole exploited by many netas and babus, says Debashis Basu.
It's a big week for Aamir Khan. After a gap of four years, he will be seen in the theatres once again.
While markets are upbeat over the government decision to nearly double the price of domestically produced natural gas, industry wants it to clearly lay the roadmap for free market pricing regime.
'Defence does not new 'planning commissions'; it needs an implementation commission.'
'The procurement cycle still consumes too much time; little has changed.'
'Modi had not discussed demonetization with me prior to his announcement on 8 November 2016. 'I learnt of it along with the rest of the country. 'I was not surprised when he did not discuss the issue with me prior to making the public announcement. 'It fitted in with his style of making dramatic announcements.' A fascinating excerpt from Pranab Mukherjee's The Presidential Years: 2012-2017.
'Reservation for the private sector is a bad idea.'
Chartered accountant and commentator M R Venkatesh on why the GST Bill will cost the BJP dear.
Not only does there appear to be no meeting ground on the issue of a pricing formula proposed by the committee, the petroleum ministry wants another committee headed by Vijay Kelkar to look into the other major recommendation of moving to the revenue sharing model in exploration and production.
It was better to first build a single-rate GST with a low rate, achieve full mastery of this, and then consider more complex possibilities such as high rates and multiple rates.
Eminent economist Parthasarathi Shome will be the new advisor to Finance Minister P Chidambaram. He succeeds Vijay Kelkar, whose term ended on August 31.
FinMin working to ensure all govt transactions are done electronically, says official
Reform ideas do not occur overnight and evolve over the years.
The defence ministry has lost sight of what it intended to achieve -- which was to nurture private defence firms that would compete on equal terms with the 9 defence PSUs and the 41 Ordnance Factory Board factories.
'The much-awaited decision could be a welcome change at a time when the Indian armed forces are crying for self-reliance and the defence industry is looking forward to more indigenisation,' notes Nitin A Gokhale.
After 17 tumultuous years, a nationwide Goods and Services Tax (GST) will rollout from midnight of June 30, overhauling India's convoluted indirect taxation system and unifying the $2 trillion economy with 1.3 billion people into a single market.
India will need an annual investment of Rs 15 trillion in infrastructure over the next five years, says Chandrajit Banerjee, DG, CII.
A smartly executed reform-recap will be the best booster for the economy, says Ajay Chhibber.
Jet's staff strength stands whittled down to around 4,000, with many former employees having joined airlines in India and abroad.
The Union Budget for 2004-05, which is being viewed as a "litmus test" for the Congress-led government, may unveil the roadmap for wiping out revenue deficit well in advance by 2007 and a subsequent reduction in fiscal deficit to manageable limits.
The Rajya Sabha on Wednesday approved the biggest tax reform since Independence.
The finance ministry and Reserve Bank of India plan to put in place a Tax Information Network proposed by the Kelkar Task Force, in a bid to improve tax administration and check evasion.
Nitin Desai suggests some concrete measures to revive investment and boost growth.
Sugarcane, which is grown by no more than 1.1 million farmers, consumes 70 per cent of water available in Maharashtra for irrigation. In contrast, about 10 million jowar, pulses and oilseeds farmers get only 10 per cent of irrigation water, points out Abhishek Waghmare.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances