Indian economy is on growth path, says US diplomat.
It will be in Modi's interest to reinvent his party, read the writing on the wall that voters wrote, and move ahead. He has little choice now. The country is watching, asserts Ramesh Menon.
Revenue Secretary Sunil Mitra admits tax collection target for 2011-12 is ambitious but achievable.
Voicing concern over slow pace of reforms, economists on Friday wanted Finance Minister P Chidambaram to give new thrust to contain fiscal deficit
A collaborative approach can yield better results in reforming labour laws that can be implemented in the whole country, instead of different states following different norms in their own jurisdictions. That approach could also help the governments convince the trade unions to see merit in these reforms, says A K Bhattacharya.
We thought if tax rates were not increased, manufacturing units would have more profits and that would be further invested in growth. Automatically, with growth, taxes go up.
Asking the state finance ministers to resolve the pending issues expeditiously, the Centre on Thursday said introducing Goods and Services Tax was critical for economic reforms.
The 21st Law Commission said the special status given to the entity of HUF was a 'so-called gift by the British', who could not comprehend the complex socioeconomic structure of Indian families. 'Now, this status is being used for the evasion of tax only,' it said.
Stocks of Hindustan Petroleum Corporation Limited (HPCL), Bharat Petroleum Corporation Limited (BPCL) and Indian Oil Corporation Limited (IOCL) have more headroom left despite the sharp run in the last few weeks, suggests a recent report from Morgan Stanley. Stocks of these oil refining and marketing companies (OMCs), it believes, are seeing multiples re-rate as investors reassess long-term growth prospects. "IOCL trades at one year forward P/BV of 1.2x, 19 per cent below +1 standard deviation (SD); BPCL trades at one year forward P/BV of 1.5x, near historical averages; HPCL trades at one year forward P/BV of 1.5x, near +1SD," Morgan Stanley said.
There hasn't been any dramatic moment in the first act (the Budget) but nobody would complain. It's par for the course as long as the figures don't change in the main Budget, which will be presented after general elections.
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'India is doing better than when we took office 17 months ago'.
The mandate will help further the development agenda in these states, with good governance and policy reforms taking centrestage
Two-page Saral-II form for individual salaried taxpayers for coming assessment year.
Work has to be done on a war footing from now to implement the GST regime.
Parliamentary Standing Committee on Finance Chairman Yashwant Sinha wants the government to first introduce goods and services tax (GST) at the central level and set example for states to implement the indirect tax reform.
'Investment creates capacity and reduces inflation. Income, employment, and savings rise.'
If the Modi government's approach to economic policy making is any indication, expectations of a sudden spurt in economic reforms after the assembly election results appear to be grossly misplaced.
Revenue buoyancy of GST will be key to improve the resource position of both central and state governments.
Besides low interest rates, a reduction in active Covid cases and strong high-frequency macro data have lifted the sentiment of both corporate India and the stock markets.
Here are handful of the number of amendments expected and predicted by analysts in the Union Budget for 2013-2014.
The government must, therefore, legislate to automatically allow non-irrigated agricultural land to be used for industrial purposes, subject only to obtaining environmental clearances.
The Sensex rose 0.44 per cent on Wednesday, while the broader Nifty edged up 0.54 per cent.
Singling out the Congress as the only opponent to the GST, the government hopes to pass the bill after the altered numbers in the Upper House, reports Archis Mohan.
The Tax Administration Reform Commission submitted report to Jaitley in June 2014.
This is the lowest investment grade rating.
GST will yield 'better value for money' for car buyers, increasing automobile industry demand, says Sandip Neogi.
"This is completely untrue. Please do not re-circulate such message without checking it with authority," Adhia said.
No, the savings as a result of preferential taxation are marginal but a concession would acknowledge the significant contribution of women to economic growth
The government is planning to extend the electronic modes of tax payment to its own payments platform, Unified Payments Interface (UPI), credit cards of banks, or even a mobile wallet like Paytm.
The Survey projected growth rate of 7-7.75 per cent for 2016-17 with downside risks due to weak global economic scenario.
Chief Economic Advisor Kaushik Basu sounded a warning bell at the Carnegie Endowment in Washington, DC, last week, saying that big-ticket reforms would probably have to wait to be carried out for the next government, after general elections in 2014.
The Association for Democratic Reforms slams the Budget proposals on political funding, says they lack teeth and show the "lack of political will" in proposing real reforms.
India Inc on Monday welcomed the focus on reviving economic growth to nine per cent as also the indications for bold tax reforms, but expressed regret that the Minimum Alternate Tax was raised and Security Transaction Tax was let to continue.
The National Democratic Alliance won 64 seats.
C Rangarajan, chairman of the economic advisory council to the prime minister, has called for revisiting subsidies, dividend distribution tax and tax exemptions.
Broad convergence on GST rollout in NDC meet.
If Mr Modi and his team expect to win the 2019 elections, groundwork for improved performance in their second term should be done now.
the BJP is pitching for major reforms in the 'taxation regime' in its current form in India.
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