'Through the use of technology, the GSTN will tip the balance in favour of compliance rather than tax evasion, lowering the barriers for entry into the tax payment system while making it much harder to cheat on payments,' says Nandan Nilekani.
A political party's manifesto is the first stage of building a compact with the voters in any governance plan. If that compact is dependent on a document that reeks of fiscal imprudence and lacks credibility, it is a serious setback to the country's democracy and governance, says A K Bhattacharya.
From the roll-out of GST to H1B visa problems, the government needs to quickly deal with various disruptions.
Finance Minister Arun Jaitley said the fiscal deficit slippage this financial year (2017-18) was largely statistical.
'Gloom is nowhere in sight, with healthy foreign exchange reserves, a strong rupee, healthy tax collections, corruption and crony capitalism under check,' argues Gopal Krishna Agrawal.
Apart from making your purchases on these platforms expensive, it will also mean sellers will have to face the brunt of reduced cash flows amid already low margins for some. Experts said the proposal, which will take effect on April 1, 2020, and will be inserted as a new section in the Income Tax Act, is expected to affect the working capital of e-commerce companies and reduce cash flows for e-sellers.
On being asked why he doesn't talk about his humble background like Modi, Singh said, "I don't want the country to take a pity on the basis of my humble background."
Experts consider Sebi's takeover code in its present form to be on a par with any foreign code governing public mergers and acquisitions.
'He spoke about 20 jawans in Ladakh, but he couldn't even name China.' 'He said the world had seen what had been achieved, even though we Indians don't know because Modi has himself said that nothing had happened and nobody had come,' points out Aakar Patel.
Jaitley said future transactions would be substantially digital as India moves towards a less-cash society
The model is now being worked out between NITI Aayog and health ministry, he said, adding the date of implementation would be next financial year and some time in the course of the year it will be worked out.
Chaos in Parliament threw a spanner in the government's efforts to revive the economy and kick-start reforms.
Only cash deposits of over Rs 250,000 in bank accounts will be scrutinised by the tax department and in case of mismatch with I-T returns, tax plus 200 per cent penalty would be levied
Junking of old Rs 500 and Rs 1000 notes, he said, will help the world's fastest growing major economy to move towards less cash economy and digital payments that will help shore up tax revenues and check evasions.
A smartly executed reform-recap will be the best booster for the economy, says Ajay Chhibber.
'Slowing down of the economy was mainly due to the demonetisation shock...' 'If you cut off the oxygen supply to a patient in the ICU and the patient dies, the patient does not come alive again when you restore the oxygen supply.'
Industrialists affirm their belief that the adverse effects of demonetisation and the goods and services tax are finally over.
"I invite each one of you to become a partner in India's growth story. And once again assure you of our wholehearted support."
Modi is optimistic that the reforms will be passed soon.
Most Asian markets were trading weak on Monday.
The challenge is to convince productive sectors that a lower general rate would benefit all and remove the prevalent system of favours targeted towards narrow industry and service sector groups.
Breaking his silence over the demonetisation issue, RBI Governor Urjit Patel on Sunday said the central bank is monitoring the situation on a daily basis and taking all necessary actions to "ease the genuine pain of citizens" with a clear intent to normalise the things as early as possible.
A classic example of a leader who has chosen to risk everything for his vision.
Economist Dale W Jorgenson declares that India is doing "very, very well" and forecasts that India might continue to outrun world economies, including China over the next many years.
'I think investors see a lot of positives happening in India now.'
The government has taken a number of steps to address the situation faced by farmers.
NDA government has shunned populism.
Indian economy about to take-off
The full transcript of the exclusive interview with Prime Minister Narendra Modi.
Boost to dairy sector will generate jobs
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