United States President Donald Trump boasted about his administration's progress.
The 2005-06 Survey tabled in Parliament said the Indian industry needed to be unburdened from high level of taxes and distortive exemptions that provided perverse incentives.
Kiran Vissa, co-convenor of National Alliance for Sustainable Agriculture, said that amendments to the EC Act have nothing to do with farmers' welfare but instead meant to please big players and agriculture companies. This is because small and marginal farmers don't have the storage capacity to attract provisions of the EC Act.
The pre-Budget Economic Survey on Thursday said the country's tax system continues to be complex and asked the government to undertake further reforms, including implementation of a uniform tax structure -- goods and services tax.
Per capita income has more than doubled to Rs 1.97 lakh in around nine years. Indian economy has increased in size from being 10th to 5th largest in the world in the past nine years. Seven priorities of the Budget, 'Saptarishi', are inclusive development, reaching the last mile, infrastructure and investment, unleashing the potential, green growth, youth power and financial sector.
Modi said his government's focus was on adopting the strategy of 'Reform, Perform and Transform'.
The loss in Bihar has forced a change in NDA's market positioning, says Shekhar Gupta.
India Inc says way forward is for Modi govt to work with other political parties to get bills passed.
In a dazzling resurgence, foreign investors have graced the Indian equity markets with an influx of nearly Rs 1.5 lakh crore in 2023, fuelled by optimism over the country's resilient economic fundamentals amid shadows of a gloomy global scenario. Experts believe that the positive trend may continue in 2024. This follows Indian equities witnessing the worst-ever net outflow of Rs 1.21 lakh crore by FPIs in 2022 on aggressive rate hikes by the central banks globally after net inflows for three consecutive years.
Though the Planning Commission favours imposition of a direct tax on Special Economic Zones (SEZs), it does not agree with the contention that these tax-free industrial enclaves are leading to revenue loss.
India is on the brink of overhauling its tax system, implementing the BEPS project and seeing a further evolution of the GST at the same time as a general election. This makes 2019 an exciting and challenging year, note Maulik Doshi and Jigar Doshi.
Hindi film industry hopes to get some tax relief from the upcoming Budget 2015-16.
Called the US Citizenship Act of 2021, the legislation modernises the immigration system, and also proposes to eliminate the per country cap for employment-based green cards, a move that would benefit thousands of Indian IT professionals whose current wait period for legal permanent residency runs into several decades.
Teary-eyed Congress leader D K Shivakumar on Saturday briefly belied the combative force he is for the Congress party, not just in the just concluded 2023 assembly polls, but on several crucial occasions in the past when his party needed him.
AAP has promised lower electricity bills, free basic water supply.
Many lawmakers fear that things may get more toxic through a series of bitter struggles expected in next few months over nation's debt and deficit burdens.
Wood Mackenzie projected India's real GDP level to overtake Japan and reach over $6 trillion by 2035.
The broad direction for the reform process will continue to be positive.
Mexican President Enrique Pena Nieto's decision to cancel his planned trip to the United States next week was mutually agreed upon, US President Donald Trump has said stating that such a meeting would be "fruitless unless Mexico is going to treat America fairly".
Confederation of Indian Industry has demanded the removal of Fringe Benefit Tax and various other direct tax reforms
The government had lately issued an ordinance on the insurance sector and introduced a Constitution amendment Bill on a national goods and services tax.
Companies in China, South Korea and Indonesia pay 25 per cent tax, while those in Malaysia pay 24 per cent. Only Japan has a higher tax than India at 30.6 per cent. Hong Kong has the lowest corporate tax rate of 16.5 per cent while Singapore has 17 per cent rate and Thailand and Vietnam levy 20 per cent tax on companies.
The Union Budget is also likely to cut corporate tax and capital gains tax.
US State Department's report said that this has resulted in many investors retreating slightly from their once forward-leaning support of the BJP-led government
Despite volatile moves, the year 2012 has finally proved to be fruitful for the stock market with about 25 per cent appreciation in benchmark indices, but investors are looking forward to more stable times in 2013.
A key milestone towards indirect tax reform in the country was achieved on Wednesday when state governments approved the introduction of a nationwide dual Goods and Service Tax (GST) from April 1, 2010.
Stung by widespread criticism within the ruling Bharatiya Janata Party, Kelkar Committee on tax reforms is expected to submit watered down final reports on direct tax and indirect taxe
Adi Godrej says he hopes the government would address industry's apprehensions over some of the Budget taxation proposals on stalled reforms and so on.
Cohn served as Trump's chief economic advisor since the beginning of the Administration. During his stay at the White House, he led coordination of Trump's pro-growth domestic and global economic policy agenda, including the passage of historic tax cuts and reforms in December 2017, the official said.
Federation of Indian Chambers of Commerce and Industry charted a roadmap for 8-10 per cent economic growth
A few companies continue to pay taxes at 15-20%.
American businesses are lobbying with political parties here to build a consensus on stalled economic reforms such as liberalisation of foreign direct investment (FDI) in sectors like multi-brand retail, aviation and insurance, and for expeditious introduction of a Goods and Services Tax (GST).
Reform ideas do not occur overnight and evolve over the years.
The government needs to take positive action to reaffirm that story.
The BRICS nations on Friday underlined the need for using local currencies in international trade and financial transactions besides committing themselves to supporting rule-based open and transparent global trade. A joint statement issued at the end of the meeting of the BRICS Ministers of Foreign Affairs and International Relations, also pressed for a robust Global Financial Safety Net with a quota-based and adequately resourced International Monetary Fund (IMF) at its centre. It further said the process of IMF governance reform under the 16th General Review of Quotas, including a new quota formula as a guide, should be completed by December 15, 2023.
The benefit coming in from the Rs 1.45 lakh crore tax giveaways will also help companies to cut prices by up to 5 per cent to boost consumer demand, which has been sagging and is one of the prime reasons for the deepening slowdown.
'One wishes that today's 'take no prisoners' brand of politics would give way to an understanding of the national interest that is shared by both government and Opposition.'
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