Early GST rollout to help create more jobs, boost output, says IMF.
The president's spending plan for the fiscal year that begins on October 1 proposes a rise in the minimum wage and for new spending on infrastructure.
The Xi Jinping regime might try to quell internal distress by directing nationalism and militarism against India, warn Ajay Shah and Gautam Bambawale.
The bullishness in the Indian stock market is likely to continue and the benchmark Sensex will reach 32,500 by December 2015, global brokerage firm Morgan Stanley said.
"There will be some challenges" in the switchover to GST in the short term, Finance Minister Arun Jaitley has warned.
Echoing Prime Minister Narendra Modi's views that improving the health of financial markets alone cannot fuel growth, G20 business leaders on Friday said vigorous efforts should be made to go beyond fiscal and monetary policy to kickstart world economy and create jobs.
The eGoM, headed by External Affairs Minister Pranab Mukherjee, is likely to take up issues including demand from developers to revise the 5,000 hectare land ceiling for one SEZ.
On Wednesday, the rupee had dropped by 26 paise.
Budget is widely seen as a test of Prime Minister Narendra Modi.
The largest challenge for the gigantic exercise between the Centre and the 29 states was to keep the latter interested over the years.
Finance Minister Arun Jaitley hints at a world class tax regime.
The outlook for India's rating would improve if fiscal, inflation and infrastructure metrics get better, a global report said.
FY16 GDP growth was seen at 7.5%, against 8.1-8.5% earlier.
To shed more light on how GST will affect the individual as well as the nation, Rediff Chat has lined up experts to field your queries.
Eminent business journalist and author Tamal Bandyopadhyay discussed Budget with rediff.com readers on Tuesday.
The positive effects of demonetisation will be visible from April and the completion of remonetisation process will drive consumption going forward, Economic Affairs Secretary Shaktikanta Das said on Tuesday.
The vice president met Leader of the party in Lok Sabha Mallikarjun Kharge, P Chidambaram and Deputy Leader of the party in Rajya Sabha Anand Sharma, among others and discussed various points regarding the key tax reform legislation.
'Investors should ideally consider equity allocations from a medium-to-long term perspective.'
Pitching for a non-adversarial tax environment, India Inc on Tuesday suggested reduction in tax rates on corporate as well as individuals to boost economic growth.
Apart from Modi, Jaggi Vasudev to address 2-day tax officers' conference
The finance ministry has set up two committees of state finance ministers which would rework rate slabs, review GST exempt items and identify potential evasion sources. Four years after the roll out of the national Goods and Services Tax (GST), which replaced the complex indirect tax structure, the centre and states have started work on moving towards a "simpler rate structure in GST" by reviewing the current rate slabs, including special rates and merger of rate slabs. The Group of Ministers (GoM) on rate rationalisation would also review items under inverted duty structure to help minimise refund payout, and review the supply of goods and services exempt under GST with an objective to expand the tax base and eliminate breaking of input tax credit (ITC) chain.
Amendments to RBI Act likely soon
The final rate will be worked out by the GST Council, Finance Minister Arun Jaitley said on Wednesday.
Jaitley will be cremated on Sunday afternoon at the Nigambodh Ghat, BJP leader Sudhanshu Mittal said.
Of the seven surveys presented under Modi govt, predictions of three were quite close to the actual GDP growth rate, one saw the base year change in between, but the last three were way off the mark.
Gandhi attacked Modi and the BJP while latching on to the bribery allegation made by Narendra Patel, an activist of the Hardik Patel-led Patidar Anamat Andolan Samiti.
The post-1991 economic boom was accompanied by a reduction in indirect taxes and rise in the share of direct taxes, and vice versa in the current slowing
The government was hoping to roll out the GST regime from April 2016.
Oil and gas players' wish list includes incentivising E&P investments and reintroduction of income tax holiday for exploration and production activities, among others.
Aiyar has contended that this results in revenue loss, malpractices and even death of people consuming illicit liquor
The government package for public sector banks, announced last Friday, has been welcomed by the stock market with the PSU banking index booking smart gains.
The BJP welcomed the CBI move, claiming that it had been saying all along that Kejriwal was the 'mastermind of the liquor scam'.
This is another blow to Modi's ambitious economic reform agenda that has been stalled by a logjam in parliament
The Centre received 5.59 lakh public grievances against various government departments in the first half of this year, with the Department of Financial Services (DFS) getting most of such complaints, according to an official report.
The Finance Minister Pranab Mukherjee on Monday tabled the Economic Survey for 2008-09 that prescribes doing away with cess, surcharges on taxes, including Fringe Benefit Tax, and sweeping refroms in areas like petrol pricing and financial sector.
From filing 37 returns a year when the Goods and Sales Tax was first introduced in July last year, the process has undergone major changes as the GST Council considered and implemented various models to ease the pain for assessees. Here's a recap of how the process has changed in 10 months.
A smartly executed reform-recap will be the best booster for the economy, says Ajay Chhibber.
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