The Parthasarathy Shome committee gives its second reform report to finance ministry.
Following the Supreme Court ruling against liquor being sold within 500 metres of state and national highways, the infamous Indian jugaad is in play once again. Veenu Sandhu, Nikita Puri, Ranjita Ganesan & Avishek Rakshit find out how India is coping.
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The power of a nation is directly related to the revenues it realises from its citizens. But India loses a gargantuan Rs 5.8 lakh crore, as the IT department drags its feet over recovering uncollected taxes in time or holding up files in appeal cases, says Mohan Guruswamy.
The prime minister is aware that whatever be its consequences, a new taxation regime cannot be launched closer to the general elections in 2019. Thus, any date after April 2017 for the launch of GST is risky, says A K Bhattacharya.
Kumaraswamy, who also holds the finance portfolio, said he has limited the loan amount to Rs 2 lakh, as it was 'not right' to waiver higher value crop loan.
With Jaitley preferring continuity over change, good days might take a little longer to arrive, says Shankar Acharya.
Bombay High Court view opposed to this was wrong.
To help compare numbers better, FinMin might retain the interim Budget Estimates with the new ones.
Several states that imposed prohibition in the past lifted it once revenue loss began to pinch
Sources said while the Janata Dal-Secular will have nine new ministers, the Congress will have nearly 12 of its legislators inducted into the cabinet. Lone Bahujan Samaj Party MLA N Mahesh will also be a part of the cabinet expansion and will be given a key portfolio.
Maharashtra Chief Minister Devendra Fadnavis on Saturday allocated portfolios to the twenty-member council of ministers, including 10 of the Shiv Sena, who were inducted into his expanded cabinet.
The finance minister said the government was open to suggestions.
Jaitley said govt would achieve 4.1% fiscal deficit target in FY15.
Sectors throw up a wishlist for the Finance Minister.
Here's everything you need to know about the Goods and Services Tax Bill.
The Budget has levied a pollution cess on petrol, diesel cars and SUVs and offered a one-time compliance window for domestic black money holders slapping a tax and penalty of 45 per cent.
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To get what it thinks are its dues, its brass have directed; construction, realty, renting of property, personnel supply, security & goods transport among those under lens
The government on Wednesday put on hold a hike in LPG prices in states including Karnataka, Madhya Pradesh and Kerala, where an increase in local levies had led to a rise in fuel rates.
According to the draft, in the northeastern states the threshold is at Rs 500,000.
Even as the government's move to hike import duties on 45 items is seen as a sign of protectionism, the prime minister was himself involved in the process.
'If my understanding is correct, one has to file not less than 37 returns per year for every ordinary business, and that too per state.' 'If you are doing businesses in Chennai, Bangalore and Hyderabad, you have to file 37x3 returns every year!' 'The consequence of GST will be chaos, confusion and possibly economic crisis.'
Chartered accountant and commentator M R Venkatesh on why the GST Bill will cost the BJP dear.
Gains in auto shares helped offset losses in select index heavyweights led by Infosys.
Large-cap scrips are still trading at a discount to mid-caps.
If this Budget was not packaged and sold as a Budget for the poor and for farmers, Narendra Modi would have lost the next election.
FY16 GDP growth was seen at 7.5%, against 8.1-8.5% earlier.
Finance Minister Arun Jaitley said the fiscal deficit slippage this financial year (2017-18) was largely statistical.
Why do I want to bring corporate tax from 30 per cent to 25 per cent? I have to attract investment in this country -- not just international but domestic.
'The number of first-time investors into MFs can grow four times more than the current rate if we are able to accept the bank KYCs.'
Attributing the stock market crash to global turbulence, Finance Minister Arun Jaitley on Monday said the government and RBI were watching the situation and hoped that things will stabilise once the transient impact is over.
GST rates would depend upon whether the commodity is used by a rich person or a common man
Fourteen ministers are from the Congress, nine from its ruling coalition partner Janata Dal-Secular and one each from the Bahujan Samaj Party and the Karnataka Pragnyavantha Janatha Party.
We should work in unison to boost growth: FM
Bihar chief minister Nitish Kumar on Thursday reiterated that his government is committed to enforce liquor ban or prohibition in the state. M I Khan/ Rediff.com report from Patna.
Women candidates have bagged the three top slots in the prestigious Civil Services examination to select Indian Administrative Service and Indian Police Service officers among others.
He said the UPA had left the economy in a dire state, with Consumer Price Index and food inflation at double digit, Wholesale Price Index inflation around 6-7 per cent and growth prospects were limited.
The present tax revenue of the state is Rs 120,000 crore.
'The middle class you can hurt anytime. For revenues, politics, pleasure, anything,' notes Shekhar Gupta.
'On the tax front, most of the Budget proposals are sensible'.
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According to a study by Central Institute of Post Harvest Engineering and Technology, Punjab, every year, 18 per cent of fruits and vegetables worth Rs 44,000 crore (Rs 440 billion) are wasted.
