The Centre and states are likely to settle for this threshold.
'I would want people to have food on their tables and their wages to rise.' 'Will that happen or not is the question that we need to ask and answer.'
'The current budgetary practice of shifting expenditures off-balance sheet in order to be seen to be meeting fiscal targets should be discontinued; additional fiscal stimulus would be imprudent; individual income tax rates should not be cut; GST rates should not be raised now,' advise Arvind Subramanian and Josh Felman.
While experts pointed out the impact of corporation tax cuts cannot yet figure in collections as most companies are yet to decide on their choice, government officials said a part reason for slow collection is the tax cut.
In his first media interaction after taking over as the president of the Board of Control for Cricket in India, Anurag Thakur on Sunday made it clear that the BCCI is not running away from implementing the recommendations suggested by the Supreme Court-appointed Justice Lodha Committee, however, he clarified that it is not possible to implement all the changes. He gave reference to the one particular recommendation which says that no advertisements should be shown between overs during a live match on television, which he believes will affect the revenues of the BCCI and in turn affect everyone connected to the Board including the former, current and future players. "If you look at the reports, IPL is the fastest growing league in the world, which in itself is a great achievement for the BCCI. They have worked well, the franchises have contributed. If you look at the other side of it, where do you get the major revenues from? It is from the home series. And your revenue comes from where? It is from the advertisements," Thakur said.
English Premier League matches have continued behind closed doors during the second lockdown announced on November 1. Supporters have not been allowed into sporting venues since the first lockdown was announced in March, barring a few exceptions.
Even as oil marketing companies are reporting losses on rising crude oil prices, state-owned oil producer ONGC has emerged as the largest taxpayer in the country by paying as much as Rs 1,333 crore (Rs 13.33 billion) advance tax for the first quarter this year.
Every year, 1,500-2,000 films are produced in India, losing up to 30 per cent of their business to piracy.
'The simple truth is this: That we had come to assume that a second term was Modi's for the asking. But the fact is that Modi will have to win one, just like everybody else.' 'And so much has he invested in his strongman persona that even a loss of just 50 seats from his extraordinary 282 in 2014 will look to his potential allies and to his party like a defeat,' says Mihir S Sharma.
With cash shortage and plans going awry, the AirAsia owner is looking to cash out of the venture he built with Ratan Tata in 2013.
'Put the assets of PMC Bank and the personal assets of the HDIL promoters and head of PMC Bank in an escrow account and ring-fence it from the ad hoc action of the revenue departments and creditors,' recommends Debashis Basu.
The sun is out. The flood waters have receded. Keralites have spent crores in quickly cleaning up the state and making it visitor ready. Go to Kerala folks!
A proposed 24 percent hike in the salaries of 2.6 million employees and pensioners, will land the railways with a wage bill of about $4.7 billion.
Manchester City, who were sanctioned last year for breaching UEFA's Financial Fair Play (FFP) rules, have posted an annual profit for the first time since the club was bought by Sheikh Mansour bin Zayed in 2008.
As he projected a grim outlook for the economy, RBI Governor said that amidst this encircling gloom, agriculture and allied activities have provided a beacon of hope on the back of an increase of 3.7 per cent in foodgrains production to a new record.
The IPL has been rocked by one controversy after another from its inception year but during this edition, the spate of Public Interest Litigations (PIL) filed by various organisations has thrown the itinerary into disarray.
Finance Minister Arun Jaitley on Wednesday said for the first time fiscal deficit target will be met without budgetary cuts.
The lockdown that crippled the entire logistics, delivery and supply chain network to near zero, was enough to deal a body blow to India's fastest growing unicorn whose very business model saw a severe disruption, like several other firms and sectors.
The GST Council, that includes representatives of all states, will meet again on November 3-4 to decide on the tax rates
The PCB rejected a claim for compensation of around 800,000 pounds ($1.49 million) for loss of revenues in relation to abandonment of the Oval Test.
At the moment, data and broadband is small for BSNL: it contributes 10 per cent of the company's revenue, though its share is on the rise.
Experts attribute the high valuation of Indian auto makers to the faster growth in India compared to the rest of the world.
'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.
