Roland Folger, managing director and chief executive officer at Mercedes Benz India calls the calendar year (CY) 2016 a year of 'lost opportunities' as NCR diesel ban and demonetisation led to a flat performance.
States' demand of compensation from Centre for loss of tax revenue not on agenda.
'The Gujarat model was never an economic model; it was essentially a governance model.'
'Mr Modi identified what would help him win votes and got it done, like 24x7 power in three phases, better roads, more water, etc.'
'Good economic governance at state level is quite different from good governance at national level,' points out T C A Srinivasa-Raghavan.
They are evaluating realignment of warehouses and supply chains, besides exploring locations to set up hubs and shutting down some distribution centres
The new tax regime has also been fuelling sale of SUVs, particularly the compact SUVs
The council, headed by Finance Minister Arun Jaitley, will meet again on December 11 and 12 to hammer out the differences.
Modi said the Goods and Services Tax has within one year of its launch led to over 70 per cent jump in indirect taxpayer base, demolished check-posts and merged 17 taxes and 23 cesses into one single tax.
Companies are worried that any staggered roll-out of GST could result in cash flow issues with businesses not able claim tax credit due to breakage in the chain
Union Minister Nitin Gadkari on Tuesday launched the country's first crash testing programme Bharat NCAP aimed at improving road safety standards of motor vehicles up to 3.5 tonnes. Bharat New Car Assessment Programme (Bharat NCAP) is India's own crash testing programme and is cheaper than tests conducted abroad, Gadkari said, adding that the star ratings will help buyers understand the quality of the product and make an informed purchase decision. Bharat NCAP will be implemented from October 1, 2023.
With all the brouhaha over GST, and (often) a limited understanding of the long-term forces shaping India's logistics sector, companies seem to have omitted factoring in some underlying trends that could shape supply chain excellence, says Neelesh Mundra.
The GST will alter the very face of fiscal federalism in India.
2019 was the Bharatiya Janata Party's breakout year, when it stretched the boundaries of what was thought possible and ended up with 303 seats on its own steam. Now it is forced to play defence, on a pitch queered by too many variables, asserts Prem Panicker.
The tax, in lieu of local levies, will be imposed at the first point of a financial transaction.
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.
To understand Modi, listen to what he does not say -- vide NRC, suggests Prem Panicker.
The Budget 2013 will be placed in the Parliament on February 28. Though the Budget this year is expected to be exceptionally austere, the corporate honchos have dished out their wishlists.
On one hand, South Indian states have been complaining about denial of a proportionate portion of the sharable funds from the Centre, based on population. On the other hand, they stand to lose Lok Sabha and Rajya Sabha seats that again are based on population, points out N Sathiya Moorthy.
Preparing legal framework to protect states from revenue loss.
The finance ministry is looking at a reworked proposal from mobile device makers on how to fight the rampant and growing smuggling of very high end phones. The proposal suggests reducing the basic customs duty (BCD) on phones which have a CIF (cost, insurance and freight or price at landing in the port) value of over Rs 35,000-Rs 40,000. The retail value of these phones is upwards of Rs 70,000.
'The role reversal of those in favour of GST and those opposing it is troubling.'
Criticising various provisions in the proposed GST regime, Moily said it will be a "technological nightmare" and the anti-profiteering provisions in it are "far too draconian."
India, along with Southeast Asian countries such as Indonesia, is expected to sustain growth in the medium-term in Asia region, replacing China as the key growth driver, Morgan Stanley and Nomura said in two separate reports released on Monday. While Morgan Stanley projected a 6.2 per cent gross domestic product (GDP) growth forecast for India in FY24, Nomura estimated the Indian economy to grow at 5.9 per cent in 2023. "Even with a slowing China, we expect GDP growth in Asia to sustainably outperform other emerging markets and the US. India and Southeast Asia are set to be the fastest-growing economies this decade.
'They would not have had to impose GST on wheat, rice, buttermilk etc. if they had not toppled governments. People do not have to face inflation'
'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.
Some politicians were found to sponsor pilgrimage of their voters -- the most preferred destinations being Tirupati in Andhra Pradesh, Manjunatha Swami temple in Dharmasthala in Karnataka and Shirdi in Maharashtra.
The Securities and Exchange Board of India (Sebi) is discussing with mutual funds (MFs) a proposal on introducing new total expense ratio (TER) slabs linked to the total equity and debt assets by replacing the current ones that are linked to assets of an individual scheme. Senior MF executives confirmed that Sebi had held discussions on this matter with AMCs. Such a change is expected to lead to a lower TER cap for bigger asset management companies (AMCs).
The advantage of leasing is that you can get a new car every few years. You can also get to drive a high-end car without paying its entire price.
'We have 750 districts across the country, and each district can create one cluster like Tirupur on any product of their choice.' 'This way, we can even have $3 trillion in exports.'
The Congress on Sunday gave a call to party leaders in poll-bound states to work with unity to ensure victory that will 'set the tone' for 2024 Lok Sabha polls even as it showed willingness to forge an alliance of 'like-minded' parties.
'You may see some movement indicating a simpler tax regime with less exemptions but with fewer tax rates making life simpler for taxpayers.'
The demand has gradually shifted from 16-tonners to 25-tonners and is further shifting in favour of 31-t and 37-t trucks.
The current draft of the Goods and Services Tax could kill any hope of economic revival - and you should blame the Congress if it rolls over and lets it pass, says Mihir S Sharma.
In his short speeches at various places, Gandhi assailed Modi over demonetisation and a host of other issues.
Palanivel Thiaga Rajan was on Thursday relieved of the finance portfolio by Tamil Nadu Chief Minister M K Stalin.
Prime Minister Narendra Modi Wednesday said the International Monetary Fund (IMF) sees India as a "bright spot" in the global economy and as per the World Bank, India is in a better position to deal with the global headwinds than many other countries. This is because of India's strong "macroeconomic fundamentals", Modi said while virtually addressing the inaugural function of the 7th edition of Invest Madhya Pradesh-Global Investors Summit in Indore. In the past eight years, the government has increased the speed of reforms and removed many hurdles in the way of investments.
The NSE Nifty also moved up by 12 points to 8,648.35.
The government is mulling changes in the income tax laws to bring cryptocurrencies under the tax net, with some changes that could form part of the Budget next year, a top official said. Revenue secretary Tarun Bajaj said that in terms of income tax, some people are already paying capital gains tax on the income from cryptocurrency, and in respect of Goods and Services Tax (GST) also the law is "very clear" that the rate would be applicable as those in case of other services.
'India has the potential to do a lot more to take advantage of the time today where we stand to gain, geopolitically and in terms of market attractiveness.'
Gandhi attacked Modi and the BJP while latching on to the bribery allegation made by Narendra Patel, an activist of the Hardik Patel-led Patidar Anamat Andolan Samiti.
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