The question on who should borrow from the market and whether the borrowing will be under two buckets should be decided by the GST Council, and not by the Centre. If there is no consensus, there has to be a vote, says A K Bhattacharya.
Of the seven surveys presented under Modi govt, predictions of three were quite close to the actual GDP growth rate, one saw the base year change in between, but the last three were way off the mark.
Voicing concern over slow pace of reforms, economists on Friday wanted Finance Minister P Chidambaram to give new thrust to contain fiscal deficit
'The IAS officers are after the rich people, the IRS officers are after the middle class and the IPS officers are after the poor. This is the new varnashrama created by the bureaucracy.'
'GST will increase the volume of taxation, there is no tax on tax and therefore makes goods, commodities and services little cheaper and far more convenient.'
Buoyed by about 19 per cent jump in tax collection, the government may further moderate taxes in the Budget with the Economic Survey on Monday prescribing a tax reform mantra to unburden India Inc.
"There will be some challenges" in the switchover to GST in the short term, Finance Minister Arun Jaitley has warned.
After 17 tumultuous years, a nationwide Goods and Services Tax (GST) will rollout from midnight of June 30, overhauling India's convoluted indirect taxation system and unifying the $2 trillion economy with 1.3 billion people into a single market.
Analysts believe the GST could boost India's economic growth by up to 2 percentage points
Unveiling the economic agenda of the new government, President A P J Abdul Kalam on Monday promised massive public investments in agriculture and industry, encouraging foreign direct investment
The party says it has trained over 1,00,000 workers in the last one year.
The GST Bill, seen as single biggest tax reform in a long time, needs to be ratified by at least 15 state legislatures before the President can notify the GST Council which will decide the new tax rate and other issues
Confederation of Indian Industry has demanded the removal of Fringe Benefit Tax and various other direct tax reforms
Announcing his tax reforms Trump said his policies would benefit working families.
Hari Om Tulsyan, Chief Income Tax Commissioner of Mumbai, says that the government's tax collection arm is becoming slimmer and fitter with help of computerisation and is ready to face the era of globalisation.
Trump had scrapped the Deferred Action for Childhood Arrivals programme earlier this month which protect some 800,000 people who came to the US illegally as children.
The United Progressive Alliance government will continue tax reforms, Finance Minister P Chidambaram said on Wednesday.
The 30-share BSE index reclaimed the 30,000-mark to trade at a new record high of 30,071.61 by surging 128.37 points, or 0.42 per cent. This surpassed the previous record high of 30,024.74 (intra-day) that the Sensex touched on March 4, 2015.
After kicking off the Budget exercise early this week, Finance Minister P Chidambaram on Thursday had a brain-storming session with Planning Commission Deputy Chairman Montek Singh Ahluwalia on the state of the economy.
Do you understand VAT? Do you need advice on the new VAT laws and how they affect your business? Here's help.
Finance Minister Arun Jaitley will pitch for quota and governance reforms in the annual meeting of the International Monetary Fund.
Vijay Kelkar, who headed the committee on tax reforms, on Tuesday warned that higher economic growth and foreign direct investment flow could not be achieved without hard fiscal reforms.
Indian market probably has more headroom than the US, says Geoff Lewis, senior strategist for Asia, Manulife Asset Management.
Exports of food products can become a valuable growth driver for the Indian food industry
Hopefully, the budget will see tax exemption on pension plans go up to Rs 20,000 from the present Rs 10,000, as recommended by the Kelkar committee.
Despite pressures from the Left parties to hike taxes on the rich and corporates, the Union Budget for 2005-06 is unlikely to be harsh on these sections while revisiting the tax structure to make it simple and compliant.
Federation of Indian Chambers of Commerce and Industry charted a roadmap for 8-10 per cent economic growth
In a major step towards tax reforms, the Centre on Tuesday agreed on a 3-tier system of compensating the states that incur revenue loss on account of implementing the value-added tax from April 2005.
Finance Minister Jaswant Singh said on Wednesday the value-added tax system cannot be implemented across the country until all preparations are completed.
Eminent NRI industrialist Lord Swraj Paul on Saturday stressed that the country should speed up privatisation, tax reforms and reduce corruption.
The empowered committee of state finance ministers is firm on sticking to the April 1 deadline for switching over to Value Added Tax despite the "friction" coming in the way from traders and a handful of states.
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