A moderate GST rate obviates the need for the two-rate structure.
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But critics caution that over-centralisation can lead to new bottlenecks
No prime minister of India ever had greater experience of running a state than Narendra Modi.
'Look at Mr Modi. He is a part of this new middle class.' 'India has never before seen this kind of social mobility, certainly not since medieval times.' 'As a result, India's entrenched elite, which is a class of people with a strong sense of entitlement, is being tamed,' Sanjeev Sanyal tells Shyamal Majumdar and Arup Roychoudhury.
Indian Railways has to up investment to strengthen network just like China and Russia.
These exist in a unique world of by-invitation-only properties -- those that are never advertised and which money alone cannot buy. One cannot simply walk in for a tour of these apartments. A buyer must first meet the developer's targeted social criteria to get invited for a walkthrough of the property.
Finance Minister Arun Jaitley has said that the states were free to announce farm loan waivers if they had the fiscal space and that there would be no shortfall this year in divestment and non-tax revenues.
After helping the government in policymaking since October 2014, Chief Economic Adviser Arvind Subramanian is returning to academics and will be teaching at Harvard Kennedy School on a visiting position. In an interview to Dilasha Seth and Somesh Jha, he says the ease of doing business agenda needs to move forward and India must try to integrate with the global value chains. Edited excerpts.
Trying to guess Subramanian Swamy's motives or next step has been a rather difficult exercise for decades, says Archis Mohan
Chief Economic Advisor Arvind Subramanian spoke on a wide range of issues -- from GDP growth and fiscal consolidation to job creation and GST.
According to the draft, in the northeastern states the threshold is at Rs 500,000.
India will have to devise policies to ensure overall growth in FY16.
"At present, there are two main rate slabs under which sa majority of goods are covered -- five per cent and 12.5 per cent -- which will now increase to three (five per cent, 12 per cent and 18 per cent).Will this result in multiple litigations is anybody's guess."
India is likely to announce its targets for the Paris deal by September-end.
India has a long way to go to catch up with Thailand let alone the US.
The Modi PMO is like none other: It is staffed by people who are so low profile that the only dominant personality is the Prime Minister's.
Devanik Saha wonders if saffronisation of India is on the rise
Rajan said investments should return after initial investor worries over Brexit.
Modi govt must bring about reforms to kick-start big-ticket infra projects.
The panel was set up to suggest ways to reform India's monetary policy.
It is pegged at 6.8-8% by various economists, as compared to 6.7%.
The truth is that few ministries in the Modi sarkar are working on new and updated legislation of any kind.
ISB professor Krishnamurthy Subramanian tells Shobha Warrier/Rediff.com that Modi government's continuation of tax terrorism is driving away investors.
Leading think tank discusses a likely Narendra Modi government and America's engagement with the man US once scorned. Aziz Haniffa reports
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Privatising public sector companies would have encountered significant opposition from their managers as well as from strong unions.
Finance Minister Arun Jaitley witll spearhead the campaign with BJP President Amit Shah as its chief strategist.
Demonetisation hit informal sector hard and caused job losses which was not addressed by the budget, Moily said.
India is threatening to block the World Trade Organization (WTO)'s trade facilitation agreement (TFA) reached at Bali last year unless its agricultural policies are permanently excluded from multilateral scrutiny.
'India's biggest loss is that we will not have anyone as principled and as courageous as Rajan.'
Chief Economic Advisor Arvind Subramanian's interview.
Modi government has to come up with a robust economic agenda to impress the masses.
'India is part of our strategic and economic future,' says Richard Rahul Verma, the first Indian American to be appointed US Ambassador to India.
If the impact of the Greece crisis spreads across Europe and parts of the world which are more interconnected than ever before, India cannot hope to be insulated, says Paranjoy Guha Thakurta.
Opposition on Monday picked holes in various government decisions like demonetisation and surgical strikes as well as allocation of funds for MNREGA, agriculture sector and Scheduled Castes, saying it has failed on all fronts despite which it is trying to "fool" the people.
'Those who have seen the functioning of the Modi government in Gujarat know that the issues related to Hindutva and issues of economy and growth function simultaneously.' 'Modi's politics are based on the understanding of the middle-class consumer society which is in pursuit of material aspirations.' Sheela Bhatt/Rediff.com reveals the Modi government's economic and political plans for the year ahead.
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