China's economy is in transition, with rising wage costs and massive overcapacity.
Jaitley said future transactions would be substantially digital as India moves towards a less-cash society
'This is happening regardless of the Budget.'
The bill was passed by LS last year and now it has to go back to the Lower House for incorporating the amendments approved by Rajya Sabha.
Economic reforms seem to be on a slow train, while good old fiscal populism is alive and flourishing.
The Economic Survey called for improving business environment.
Several of Modi's actions reflect political courage.
Exports of food products can become a valuable growth driver for the Indian food industry
It is time to reset expectations as government will move with alacrity on social policy, not on economic reforms.
Assembly elections coming up in November and December could offer a window of opportunity to the government to make GST attractive through rate cuts.
Sandeep Shanbhag offers tips on post Budget taxation rates.
After kicking off the Budget exercise early this week, Finance Minister P Chidambaram on Thursday had a brain-storming session with Planning Commission Deputy Chairman Montek Singh Ahluwalia on the state of the economy.
Telecom infrastructure player Indus Towers has been largely ignored by investors with occasional bursts of trading when there's news flow. For example, the stock fell from Rs 188 (Jan 1, 2023) to Rs 135 (Jan 27) and then bounced back to Rs 165 in early February as the Government of India (GoI) converted Vodafone Idea's (Vi) debt into equity and Bharti Airtel pushed up its direct stake in Indus to 47.95 per cent. The cash-strapped Vi holds 21 per cent stake in Indus Towers and Indus also has substantial receivables to come in from Vi which is a negative overhang.
Equity markets are currently difficult to gauge as the market has probably priced in a lot of things ahead of actual events.
The US Citizenship Act 2023 introduced by Congresswoman Linda S nchez creates an earned roadmap to citizenship for all 11 million undocumented immigrants, providing Dreamers, TPS holders, and some farmworkers with an immediate path to citizenship.
India too will advocate the IMF quote reforms at the two-day meeting of G20 Finance Ministers and Central Bank Governors beginning Saturday.
An online tax accounting system for paying taxes will be flagged off on Tuesday, as part of reforms to make the procedures simpler and faster.
Protests by central labour unions and widespread criticism from Opposition parties because of job losses on account of demonetisation and the GST have put the contentious labour reform proposals in the slow lane.
The Singapore Minister applauded Prime Minister Modi's effort to make India the manufacturing hub of the world.
Most brokerages have maintained their Sensex and Nifty targets as they believe there is little room for further re-rating in the backdrop of weak earnings.
On Wednesday, opposition leaders boycotted Modi's latest attempt to build consensus around the issue.
Prime Minister Narendra Modi on Wednesday said that the country's economic growth is picking up pace again and the domestic industry needs to enhance its risk-taking appetite. Noting the recent reforms taken by the government, the Prime Minister said that bringing reforms is a matter of conviction for his government, which is ready to take all risks in the national interest. "We have taken bold decisions. Reforms continued even during pandemic. "The government is doing reforms not out of compulsion but out of conviction," he said while addressing the CII's annual meeting.
The government is now contemplating issuing an executive order to implement these measures, which would need to be approved by lawmakers within six weeks of the opening of the next session of parliament, scheduled for the beginning of February. India's president would also need to agree.
'The estimates of tax forgone on this item run into hundreds of billions.' 'And there is neither fairness nor rationality to support continuing with this tax holiday for just one class of investors, those who put their money in shares,' says T N Ninan.
Industry had sought this 3-month extension, specifically for players struggling to collate the information that are required to be disclosed in the GST forms.
After tabling the Survey, Jaitley told reporters that fiscal deficit for the current year will be 4.5 per cent which needs to go down further in the next two years.
The two leaders are expected to make brief remarks at the top of the meeting.
'Modi had not discussed demonetization with me prior to his announcement on 8 November 2016. 'I learnt of it along with the rest of the country. 'I was not surprised when he did not discuss the issue with me prior to making the public announcement. 'It fitted in with his style of making dramatic announcements.' A fascinating excerpt from Pranab Mukherjee's The Presidential Years: 2012-2017.
A report prepared by the Association for Democratic Reforms states that the total tax exemptions received by six national parties during financial years 2006 to 2009 is Rs 510.02 crore. Vicky Nanjappa reports
On May 4, US President Barack Obama announced a proposal to rework America's tax code. How will these plans impact India?
Jaitley promised the states that they would be fully compensated for any loss of revenue arising from implementation of GST.
The GST Bill, seen as single biggest tax reform in a long time, needs to be ratified by at least 15 state legislatures before the President can notify the GST Council which will decide the new tax rate and other issues
Planning Commission, on Thursday, expressed reservations on Kelkar Committee proposal to bring processed foods under excise duty net saying it will badly affect growth in the sector.
The N K Singh task force on power sector reforms has proposed wide-ranging fiscal measures, including cut in customs duty, abolition of special ad valorem duty and tax holiday to step up investments in a bid to bring down tariffs.
The GST Council's agenda includes trimming the number of items in the 28 per cent slab by 75 per cent, easier compliance for assessees and small taxpayers, and a presentation on bringing real estate under GST.
Modi said the Goods and Services Tax has within one year of its launch led to over 70 per cent jump in indirect taxpayer base, demolished check-posts and merged 17 taxes and 23 cesses into one single tax.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances