Voicing concern over slow pace of reforms, economists on Friday wanted Finance Minister P Chidambaram to give new thrust to contain fiscal deficit
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.
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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
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.
Revenue buoyancy of GST will be key to improve the resource position of both central and state governments.
Indian fintechs and associated entities are hoping that the Union Budget 2024 will provide a boost and empower firms to extend their reach beyond Tier-II regions, with an emphasis on supporting enterprises led by women. The fintech industry, which has witnessed regulatory reforms over the last year, expects the Budget, scheduled to be presented by Finance Minister Nirmala Sitharaman on February 1, will further encourage financial inclusion, empower micro-small-medium enterprises (MSMEs) with lending solutions, and push for upskilling initiatives for the country's young workforce.
Work has to be done on a war footing from now to implement the GST regime.
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.
Two-page Saral-II form for individual salaried taxpayers for coming assessment year.
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.
The government must, therefore, legislate to automatically allow non-irrigated agricultural land to be used for industrial purposes, subject only to obtaining environmental clearances.
Here are handful of the number of amendments expected and predicted by analysts in the Union Budget for 2013-2014.
The Sensex rose 0.44 per cent on Wednesday, while the broader Nifty edged up 0.54 per cent.
False and acrimonious debates such as Modi versus Manmohan might allow for victories that are political and partisan. But the real loser is the nation, India and Bharat, notes Arvind Subramanian, former chief economic advisor to the Modi government in its first term.
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 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 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 Survey projected growth rate of 7-7.75 per cent for 2016-17 with downside risks due to weak global economic scenario.
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.
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 National Democratic Alliance won 64 seats.
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.
If Mr Modi and his team expect to win the 2019 elections, groundwork for improved performance in their second term should be done now.
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.
the BJP is pitching for major reforms in the 'taxation regime' in its current form in India.
In the video, Bachchan explains GST as an unifying force just like the three colours in the national flag.
The government has not done its homework or made any attempt to forge a consensus on this matter that affects millions of people in the organised sector, says Harsh Roongta.
'Everyone knows there is no point in contesting elections from Gujarat as a Congress candidate because they know they will be wiped out.'
Foreign portfolio investor (FPI) flows into India may remain tepid in 2022, said a recent note by Goldman Sachs, who now peg the foreign portfolio investment into India at $5 billion in 2022, down from their earlier forecast of $30 billion with risks skewed to the downside. "There has been $15 billion of equity outflows YTD in India already, and the IPO of the largest insurance company has been pushed out. "Additionally, with no mention of India's inclusion in global bond indices in the Union Budget, there are risks to our already conservative base case assumption of an announcement of India's likely inclusion into the GBI-EM Global Diversified Bond Index in Q4-2022," wrote Andrew Tilton, Goldman Sachs' chief Asia-Pacific economist in a co-authored report with Santanu Sengupta and Suraj Kumar.
He says a Budget is supposed to be about tax and expenditure. "I think he (Finance Minister Pranab Mukherjee) has outlined significant tax reforms, which will be implemented over the next three to six months."
Dismayed by the BJP's decision to say no to FDI in multi-brand retail in its election manifesto, India Inc has urged the party to reconsider its stand, saying the move may send a wrong signal to overseas investors.
According to the global financial services firm, the recent steps taken by the government provide further confidence that not only is the reforms agenda on track but the pace is accelerating too.
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