Whether one likes it or not, services constitute the value-addition sector that the country has to build on, using its comparative advantage in infotech and related skills, suggests T N Ninan.
"If the tax holiday is withdrawn, STPIs will lose the level-playing field vis-a-vis special economic zones. We have recommended that the government either withdraw the tax holiday to SEZs or continue the incentive to IT companies," an official with knowledge of the deliberations told Business Standard. STPIs enjoy direct tax exemption under sections 10A and 10B of the Income-Tax Act, 1961. The benefits are scheduled to expire on March 31, 2009.
Later, there may be some tax relief aimed at the middle class and measures to benefit the sectors worst hit by Covid-19 and the resultant nationwide lockdown.
The new government may also introduce a separate scheme for revival of stranded gas-based power projects
China's new leadership headed by Xi ruled out massive stimulus similar to the one in 2008 which amounted to $645 billion to tide over the global economic crisis.
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Though the party's pre-poll promises include increasing the focus on technology, this isn't a new idea.
But their trajectory and direction have been largely influenced by politics and the political leadership's understanding of how the economy needs to be managed, explains A K Bhattacharya.
So vaccinate employees and families, staff at home, rickshaw drivers, milkmen, service providers, shopkeepers and street vendors, says Naushad Forbes.
The assumption that money drives performance is dated.
Slamming the Union budget as 'insipid' and lacking in stimulus for growth, the Congress on Saturday said it does not address the main issue of unemployment and describes the mindset of the government.
Monetary incentives under Skill India to small entrepreneurs, capital infusion into technology fund to help businesses expand operations
Solar equipment manufacturing, however, is unlikely to pick up in India as Chinese imports are more cost-effective
The concerns of the country's 9 crore elderly people, who want the government to utilise their skills for mutual benefit, include safety, pension, income security, raising the tax exemption limit and health benefits. "We are urging the government to free all those above 80 years of age from all taxes and allow them to spend the evening of their lives in peace," Chief Executive of HelpAge India Mathew Cherian said.
Ways on how consumers can maximise benefits.
The government is likely to offer a slew of tax sops to telecom operators, including asking state governments not to levy sales tax on telecom services, seven years of exemption of revenue sharing on revenues from rural subscribers, etc.
The panel will also recommend a fiscal consolidation road map for the central and state governments, study the impact of GST on the divisible pool, and propose performance-based incentives for states.
Finance Minister Nirmala Sitharaman on Wednesday announced Rs 3 lakh crore collateral free automatic loan for businesses, including MSMEs, to benefit 45 lakh small businesses. Detailing parts of the Rs 20 lakh crore economic stimulus package, she said this loan will have a 4-year tenure and will have 12-month moratorium, she said.
Budget fails to cheer realty players.
'Hope they don't tinker around with capital gains tax in any way.'
Official sources say that the finance ministry is aware of the possible spike in smuggling activity and has already asked intelligence agencies to tighten their vigilance and come down on the unofficial entry of gold into India.
The confidence that GST Network is capable of handling the returns, payments, reconciliation, refunds, etc., has been badly shaken.
Companies are worried that any staggered roll-out of GST could result in cash flow issues with businesses not able claim tax credit due to breakage in the chain
The domestic animation and gaming industry has said that it may face a serious crisis if not given fiscal incentives in the coming Budget.
'In India, there's currently evidence the Centre has not managed a smooth vaccine rollout.' 'It is now falling back on blaming states, which are facing vaccine shortages,' points out Devangshu Datta.
'Wherever in the world there is political instability, those countries are beset with severe crises today. But India is in a much better position than the rest of the world due to the decisions taken by my government in the national interest,' President Droupadi Murmu said in her address to both Houses of Parliament.
While the PM sees zero tax on long-term capital gains and dividend income as unfair since the beneficiaries are not poor, he is silent on the fact that rich farmers too don't pay taxes, since farm income is tax-free, a loophole exploited by many netas and babus, says Debashis Basu.
It, however, does not manufacture devices on its own and rather does it through contract manufacturers.
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
'If the Union Budget can provide incentives for animal spirits to come as well as induce demand stimulus and consumption, the Budget would have done a wonderful job.'
In 2016, almost two-thirds of Indian imports that appear to be most at risk for some degree of potential revenues losses are imports from just one country, China, which was by far India's largest source of imports in that year
The reason for the largesse, a first in the revenue department, is on account of direct and indirect tax collections exceeding the target (Budget estimate) for 2006-07. Total revenue collections stood at Rs 470,987 crore (Rs 4,709.87 billion) for the year, against the targeted Rs 439,952 crore (Rs 4399.52 billion).
'We have promised to ensure reduced tax rates.'
Indian state's generosity is not restricted to its poorest citizens.
Once implemented, customers making payments using Rupay card or BHIM UPI will get a cashback of 20 per cent of the total GST amount, subject to a maximum of Rs 100.
The measures include increasing the number of services on which exporters are granted service tax exemption and refunds, re-introducing interest payment on the Exchange Earners Foreign Currency account and extending the period and scope of pre- and post-shipment credit.
'Dear Business Partner, Kindly note and inform your all customers that Digital Cashback has been revised from 0.75 per cent to 0.25 per cent with effect from August 1, 2018 across oil industry for all loyalty customers,' said the text message sent by State-owned oil companies to petrol pump operators.
Experts say the party is undoing what it achieved through MNREGA by targeting beneficiaries
The message for 2024 is that the man on the street is not going to be euphoric if the G-20 crowns Modi as king-emperor for 2023, or if India sends its first man to space just ahead of the Lok Sabha polls. Even a 'temple consecration' in Ayodhya, or a Uniform Civil Code, or both of them together, may not have enough electoral purchase if fuel and commodity prices are not rolled back, and money-in-the-pocket does not fatten, points out N Sathiya Moorthy.
To curb mis-selling of policies and rationalise commissions, radical changes have been proposed to help investors.
