Using tax collection numbers as signifiers of robust economic activity may be highly optimistic.
The consensus was reached after the Centre agreed to the demand of the states to go in for a horizontal split with regard to taxpayers based on annual turnover.
While Arun Jaitley talks of increased tax collection, banks are battling historically-low credit growth and small and medium businesses are staring at drastically decreased revenues.
Advancing the Budget presentation could give the BJP an unfair advantage in the upcoming state elections. By failing to defer it until after the polls, the party is unwilling to follow the high principles expected in a bipartisan polity.
In a speech full of faulty economic reasoning, Modi made one factual claim – the number of Indians with official incomes greater than Rs 10 lakh is just 24 lakh. If demonetisation really works, he needs to up that figure substantially in the next two years.
It is dangerous for the government to seek financial stability at the cost of people who entrust their money to banks.
Customers with non-KYC accounts will be subject to the stiff conditions imposed by the RBI on December 19 for depositing old notes.
Unless India’s public healthcare infrastructure is improved considerably, development and investment in other sectors will mean little.
The finance minister announced that the government will expedite cashless payments in the country and has declared a slew of measures facilitating digital transaction.
Yet another India-Pakistan encounter ended with both sides jostling to control the media narrative.
The Ahmedabad property dealer who was a proxy for politicians and businessmen who sought to benefit from the Modi government’s undeclared income amnesty scheme has said he will name names.
In the last fiscal year, several ministers had revealed possessing large amounts of cash in hand with Arun Jaitley topping the list at Rs 65 lakh.
Arvind Subramanian’s earlier statements indicate he has been against the idea of “Big Bang” reforms, arguing instead for an incrementalist approach.
A bill which seeks to tax money deposited in banks post demonetisation was passed in the Lok Sabha on Tuesday, within minutes and without any debate.
Over the past two years, Prime Minister Narendra Modi’s government has pushed banks to recognise non-performing assets, make adequate provisions for them and try to raise capital from outside to bolster their balance sheets.
India may be a limping and flawed democracy, but it is one nevertheless. That means that Indian voters deserve to be heard.
A senior minister confessed that the government had no assessment of the impact demonetisation has had in rural and semi-urban areas, and whether new currency notes have reached these areas.
As the unorganised sector continues suffering, civil society members, bankers and politicians remain sceptical of demonetisation’s impact on black money.
The government’s demonetisation has devastated farmers, landless labourers, pensioners, petty traders and many others across Maharashtra.
For the last few days the world is watching the bizarre spectacle of millions of Indians waiting in long, unending queues to recover their own money from banks, post offices and ATMs even as the government at the Centre remains firmly in denial about the untold hardship to […]
While farmers and informal sector workers suffer, the move to demonetise Rs 500 and Rs 1000 notes will have little impact on black market offenders.
The UGC’s proposed guidelines do not provide for any concrete structural change that will give institutions more autonomy in the process of becoming world class.
The Confederation of All India Traders said small and medium businesses were severely impacted, and appealed that they be authorised to accept at least one higher denomination note from consumers with KYC details.
Nitish Kumar said the move would be beneficial in the long run, but others like Mamata Banerjee, Sitaram Yechury and Thomas Isaac were critical of it.
Avinash Rai Khanna, vice-president of the BJP is due to fill the NHRC post that has remained vacant for two years.
A successful summit could be electorally useful for Goa’s chief minister, Laxmikant Parsekar, and the BJP, especially given AAP’s presence in the state.
In a briefing chaired by Home Minister Rajnath Singh, representatives of all parties have applauded the actions of the Indian Army.
The Bill was introduced by the Deve Gowda government in 1996 and was passed by the upper house in 2010 after being tossed around for various reasons.
Reforming existing arbitration forums to ensure better representation from developing countries may be a better solution to the bloc’s cooperation problems.
The passage of the bill will pave the way for setting up of a GST council that will decide the tax rate, cess and surcharges.
The decision was taken after the central trade unions gave a call for a one-day pan-India strike on September 2 to protest against the government’s labour reforms.
Only two police station areas remain under curfew today.
Several Hurriyat leaders and associates have been arrested since Saturday, even as government makes plans to hold talks with Kashmir separatists.
An ‘inflation warrior’, Patel is the eighth deputy governor in the Reserve Bank’s history to be made its governor and the sixth with experience at the IMF.
While the ministry provided information on a query on phone tapping five years ago, it refused to disclose facts when an application seeking the same information was filed last month.
The government’s IPR policy seems to lack a holistic understanding of the complexities attached with “traditional” knowledge (to be free and open for public access) vs. some kind of privately locked knowledge capital.
Perhaps Jaitley was not over-pitching when he argued that “the whole concept of the GST Council is Indian federalism at play in the best possible mode”.
If the Centre needs to adopt a sensitive and reflective approach, the states too need to realise that they are not just competing amongst each other but also face global competition.
The Cabinet has approved important changes to the GST Bill, key being the decision to cut the 1% inter-state tax. These changes go towards meeting some of Congress’ demanded changes to the Bill.
In its current form, the GST will have a negligible positive impact on growth, may be negative for the business environment, and may not even be revenue neutral.