Noting that oil prices had gone down after the BJP-led government came to power in May 2014, before they went up, Prasad said it is a problem whose solution is not in its hands.
Chidambaram to meet revenue boards on how to get much more and quickly; special audits and notices among measures likely.
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.
In the World Bank's rankings on the "Ease of Doing Business" India stands at 139 out of 189 economies surveyed in 2014; its position has in fact dropped from 131 last year.
'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.'
The Madras High Court on Wednesday directed its registry to post a PIL seeking regulation of various clubs and questioning the dress code imposed by them in the backdrop of denial of entry to a dhoti-clad Judge by TNCA Club in Chennai to some other bench.
In July, IRS officers in Mumbai held an incendiary meeting where they criticised the alleged interference in 'operational matters' by the department of revenue.
Rama Krishna Sangu, partner, Manohar Chowdhry & Associates, Chartered Accountants, and a member of the Indirect Tax Committee of ICAI, fielded readers' questions on GST on Rediff Chat.
11,292 km. 20 million (Nitish Kumar says 30 million) Biharis. 45 minutes.
Finance Minister Arun Jaitley witll spearhead the campaign with BJP President Amit Shah as its chief strategist.
In a Q&A with Doordarshan, Jaitley discusses how he chose the areas on which he would spend more.
IT companies see this as a huge opportunity.
Indian economy about to take-off
"Not a single step has been taken by this government to empower small businesses in India," says Praveen Khandelwal, national secretary general of the Confederation of All India Traders and former treasurer of the Bharatiya Janata Party's Delhi unit.
The minister said any declaration made under the law will be protected
Chief Economic Advisor Arvind Subramanian's interview.
Mr Prabhu has a big challenge ahead in implementing trade reforms to regain the lost export momentum, says Jayanta Roy.
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.
Going by the number of changes Mr Jaitley's next Budget is likely to see, he will go down in the history of Budget-making as the finance minister who ushered in the largest number of changes in a single Budget, says A K Bhattacharya.
Taxpayer satisfaction is a part of the matrix of key performance indicators of the administration.
'Otherwise, how is the government going to make more revenue?' 'The most important thing the GST does is to transfer money from the household consumers who are the most productive users of capital to the most unproductive users of capital, namely the government.'
Last week, the government had introduced a fresh round of austerity measures, including bans on first class travel, creation of new posts and holding meetings in five-star facilities.
Official sources said the government has decided to transfer Kalia from her current post as Fatehabad SP, adding formal orders will be issued soon.
Here are highlights of the 68th Republic Day parade.
Piloting the Specified Bank Notes (Cessation of Liabilities) Bill, Finance Minister Arun Jaitley said it will extinguish the government's liability towards scrapped notes and also eliminate the possibility of their bring used as parallel currency.
Single window clearances for realty must.
The outgoing chairman believed in building for the future; for his successor, the challenge will be to maintain the momentum, says Ishita Ayan Dutt.
It is time to take a few macroeconomic risks to kick start the growth.
People elected me to fight corruption, I'm doing what they told me to do, Modi said.
Uncorking the business of vintage wines and spirits.
The time the companies have to get ready for GST is 6 to 12 months.
Let Bihar be damned under its contradictions of having gone 'dry' and then having been submerged under flood, which is a recurrent phenomena? After all it is a godforsaken land, having lost its promises of overcoming its problems, says Mohammad Sajjad.
Getting the balance between fiscal restraint and growth-contracting policy remains a problem.
'Modi as the PM of the country has to take everybody on board and deliver on good governance. That is his responsibility. In that talking alone won't help, he's working.' Commerce Minister Dr Nirmala Sitharaman tells Sheela Bhatt/Rediff.com how the Modi government plans to change India.
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