Agricultural incomes can be taxed without hurting farmers, as a substantial section - the small and marginal ones - will remain outside the tax net simply because their incomes are likely to be below the basic exemption limit of Rs 250,000 per annum that is extended to all taxpayers in India, finds out Ishan Bakshi.
The former RBI deputy governor talked about the prospects of an economic revival, reforms in IMF, etc.
Commodity futures market's dream run came to a halt in 2013 as a Rs 5,600 crore scam in Jignesh Shah-led spot exchange NSEL and imposition of transaction tax on non-farm items hampered the growth of business, with turnover estimated to dip by 30 per cent to Rs 125 lakh crore.
'The critics are getting carried away.' 'The challenge for the RBI is not any erosion of autonomy caused by demonetisation.' 'It's the whole attempt to reduce the RBI's stature and role that has been under way,' says T T Ram Mohan.
Addressing a joint session of Parliament on Monday, President Pranab Mukhejee spelled out the Narendra Modi's government's agenda. Here are the highlights of his speech,
'Providing funds and autonomy to a few institutions that may not have the intent to excel must not become a case of trying to feed those who are not hungry and starving those who are famished,' says Jitendra Kumar Das, Director, FORE School of Management, New Delhi.
Will help in reviving the economy and push investment.
'If some measures are implemented quickly, they can help revive growth.'
13 eminent economists, including former RBI governor Raghuram Rajan and current International Monetary Fund Chief Economist Gita Gopinath, in a report have asked the political establishment not to resort to populist tricks.
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.
The Modi government has not lived up to the muscularity the prime minister promised while campaigning, says Ajai Shukla
'My immediate concern is restoring prestige and decorum of Rajya Sabha...'
There are some 20-odd schemes with this default provision, or something close to it.
Ambassador Venu Rajamony, who served as press secretary to President Pranab Mukherjee during his tenure, salutes the statesman and political legend, who passed into the ages on Monday.
The official cited it as an example of 'how the Chinese military is trying to resolve issues through dialogue mechanisms'.
The Supreme Court on Tuesday ordered a stay of the implementation of the contentious three new farm laws hoping this will end the prolonged protests by the farmers and also constituted a four-member panel of agri experts to resolve the impasse between their leaders and the Centre.
Xi Jinping has accumulated great power, but he faces trials that are just as great, says Claude Smadja.
Dr Swarnim Wagle, the official behind Nepal's reconstruction strategy, speaks to Patrick Ward.
Teachers across universities are questioning the "thoughtlessness, rushed manner and opacity" of the process in which the UGC announced the introduction of the choice-based credit system across universities in the country.
'A dangerous and false binary is now surfacing in Indian political discourse, which must be firmly rejected.' 'It is that we have to choose between freedom and development.' 'For us freedom is neither merely an instrument for development nor to be subordinated to development.' 'It is, as our founding fathers proclaimed early in our freedom struggle, 'our birthright' on which we shall never compromise.' 'Growth, wealth and development are fruits of democracy, not substitutes.' Dr Manmohan Singh's thoughts on democracy: A Must Read!
'It is the government's most important duty to ensure that when war breaks out, the armed forces are absolutely ready to face the adversary -- well equipped, well trained and in high spirits,' says Brigadier Gurmeet Kanwal (retd).
Persistent efforts by the Board of Control for Cricket in India and its full members to block implementation of some crucial recommendations of the Justice Rajendra Mal Lodha committee on Wednesday provoked the Supreme Court to observe that public functions relating to cricket can be taken over by the government with the enactment of a law in Parliament.
'There is a group who want to internally damage the Congress and they may be hand in glove with the BJP.'
'In India, China's capacities to conduct new types of warfare is critically underestimated,' says Claude Arpi.
For 2017-18, the plan size has been pegged by the Railways at Rs 1,31,000 crore.
FM should avoid proposals such as to tax financial transactions and fringe benefits
The Congress party on Friday attacked Prime Minister Narendra Modi and his ministerial colleagues, latching on to the controversy surrounding newly-inducted minister of state for HRD Ram Shankar Katheria over his graduation marksheet.
General Zhao Zongqi is well known in India for having commanded the Chinese troops during the Dokalam episode. Zhao knows every inch and corner of the Indian border, at least the Eastern and Central sectors, including the Naku La area which witnessed fist-fights between Indian and Chinese troops in April/May. Claude Arpi introduces us to the PLA generals masterminding the Chinese aggression in Ladakh.
'There are major implications for India. Though there was a transparently thin attempt to project the troop reduction as intended to promote peace, the downsizing is actually part of plans to streamline and strengthen the PLA, capable of defending China's national interests at home and abroad,' says Jayadev Ranade.
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We present Prime Minister Manmohan Singh's full speech as he addressed the country on the occasion of 66th Independence Day, from Red Fort, Delhi.
At this point of time, the requirement of the economy is obviously more investment, which will create more jobs and increase purchasing power that will sustain a high level of production, says K M Chandrasekhar.
Recent IMF forecast said China's growth is expected to slow down.
A look into the challenges of selling loss-making public units.
True, Azam Khan is being targeted rather disproportionately and also because of his Muslim identity. That must be protested and resisted. But to say that he is a big messiah, and his profit-making educational enterprise is an issue concerning all Muslims of India, is absolutely unjustified, assert Mohammad Sajjad and Md Mohammad Zeeshan Ahmad.
'We should build a military with the capability to fight today's war on priority -- balancing it with the requirements of the future,' says Lieutenant General Anil Chait, one of the Indian Army's most cerebral thinkers who recently retired as chief of the Integrated Defence Staff, in his agenda for the new defence minister.
Tough conditions imposed by global lenders could cause an outcry.
A large chunk of the Rs 8.8 lakh crore of investments the Patnaik government had attracted is in uncertain territory.
'This has to be seen in the context not only of the legacy we inherited, but also of global economic weakness.'
'If after inheriting the very bad situation we have reached this level despite consecutive years of drought and no growth in the world economy, it is no accident.' 'It is a result of the sound macro economic policies followed by this government.' 'We have eschewed populism and stuck to a path of fiscal prudence.'
President Pranab Mukherjee on Monday addressed the first joint sitting of Parliament as mandatorily required under the Constitution after the general elections. The address is the political, economic and foreign policy road map of the Narendra Modi government and covers virtually all crucial areas.
'On the tax front, most of the Budget proposals are sensible'.
