FM indicates adherence to fiscal road map, benign tax rates, correction in inverted duty structure
GST stabilisation, DTC implementation and banking reforms are crucial for sustaining high growth for a long period, says Rashesh Shah.
The challenge of cleaning up the taxation system and introducing the goods and services tax (GST) regime cannot be underestimated.
'The government's principal aim should be to reduce the volume of cash transactions.' 'That would bring more of the Indian economy within the purview of taxation.' 'The current downturn in economic activity due to a lack of adequate cash is likely to be limited to a year,'
'If anything, he is a fiscal hawk.' 'He has avoided fiscal profligacy completely for the past four years.' 'The fiscal deficits since 2014 are clear proof of this.' 'The point is not that it is not 3 per cent yet; it is that it is not 6, 7 or 8 per cent, which it could easily have been.' 'For this he needs to be congratulated.' 'He has recognised it no longer pays to spend other people's money to win elections,' 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
Companies feel higher rates in India would not be justified.
Maharashtra raises vehicle registration fee, Tamil Nadu ups entertainment tax
The Modi government has ambitious plas to achieve 10% growth, but there is no assessment of how much money is needed for the whole package of measures, and where it will come from. In short, there is no plan for how to get from here to there, points out T N Ninan.
Capital gains tax is no longer exempt even for investors coming via Mauritius, hence FPIs are now classifying it as interest income to save on taxes.
How investors can tweak their fixed income investments to earn more in the current environment.
Sensex, Nifty end the day in red ahaead of F&O expiry.
India is also set to achieve the goal of reducing hunger by half and reduce maternal mortality by three quarters.
'The true fruits of the attack on black money, what Raghuram Rajan did for the banking system, and what technology is doing for us will come in FY19, which, not surprisingly, is the year running up to the next Lok Sabha elections.'
The Swadeshi Jagaran Manch has pointed out that these firms pose a threat to domestic manufacturing and retailing as they do not pay relevant taxes such as GST, giving them a huge edge over local players.
Assembly elections coming up in November and December could offer a window of opportunity to the government to make GST attractive through rate cuts.
Now that the National Pension Scheme offers more choices than the Employees Provident Fund, is more transparent and also allows to choose the level of allocation to equities as investors like, should one switch to the NPS?
Corporates understand that the PMO drives all key decisions in this government.
With 75 per cent of votes counted, the ND party was leading with 39.6 per cent of total votes heading towards a majority in the 300-member Greek Parliament, while Tsipras' leftist Syriza was behind with 31.6 per cent of total votes, CNN reported.
'Tax cuts will have only marginal effects in the short run and significant positive effects in the medium term,' says Shankar Acharya, former chief economic adviser to the Government of India.
Never before in post-reforms India have Union Budgets seen a steady reduction in fiscal deficit for five consecutive years, points out A K Bhattacharya.
As for structural reform, there are signs if one looks hard enough.
Top Congress sources said they would not hold up the Bill.
Social activist Anna Hazare on Wednesday declared his support to West Bengal Chief Minister Mamata Banerjee, who apparently has ambitions outside the state in the coming Lok Sabha election, and snubbed his one-time protege by saying that he will not support Arvind Kejriwal.
He lauded the government's 'minimum government and maximum governance' policy.
Assocham expressed concern over the precarious situation that the manufacturing sector is in, observing that if the trend does not reverse with monetary and fiscal measures it would be difficult for the industry to generate jobs.
'Defence and aerospace show huge potential thanks to the government's Make in India push.'
An argument used for removal of this exemption is that it is used to launder black money and bring it in as clean tax paid money by manipulating the price of less liquid shares in the market, says Harsh Roongta.
FIPB rejects proposals from firms that have not divulged details of beneficial ownership or source of funding
Listing out priorities for the Finance Ministry under Arun Jaitley and the Narendra Modi government as a whole, it said the growth rate can pick up to 6 per cent with the extent and pace of reform measures.
The senior Congress leader also said over 90 per cent of jobs are in the SME sector which requires an urgent push to boost the economy.
Kumar Mangalam Birla spoke high of the Modi government during the summit.
If you were deputed abroad, filing income tax can be tricky.
Finance Minister Nirmala Sitharaman on Friday hiked tax on petrol and diesel, raised import duty on gold, levied additional surcharge on super rich and brought a tax on high value cash withdrawals as she sought to spur growth with reduction in corporate tax and sops to housing sector, startups and electric vehicles.
News of all that transpired on and off the football field
Though most foreign banks appear reluctant to establish a subsidiary here, Citi is the only bank that has so far communicated this to the regulator, in writing.
'These provisions may even be seen to be a threat to burgeoning businesses, since they would view every announcement of a rate cut as a starter's pistol that triggers a long race to adjust prices and to justify the adjustment,' argue Rashmi Deshpande and Anjali Krishnan.
Special Economic Zones are likely to be central to realising Prime Minister Narendra Modi's ambitious Make in India agenda.
A few companies continue to pay taxes at 15-20%.
If you missed the primary market bus but still want to invest in Sovereign Gold Bonds, then feel lucky.
