A simpler and lower rate of tax is what was needed to widen the country’s tax base substantially. This was totally missing in GST’s initial design.
The consumer price index, the main policy target of the RBI, likely rose 1.87% in July from a year earlier, compared with an increase of 1.54% in June.
In its mid-year economic survey, chief economic adviser Arvind Subramanian said there were downside risks to the official growth forecast of 6.75-7.5% for the fiscal year to March 2018.
The Reserve Bank of India is under pressure to cut its main policy rate beyond the 25 basis points markets have priced in for Wednesday’s policy meeting.
Ambiguous rules under the new, multi-rate sales tax that went into effect on July 1 have left firms confused on how to price their products.
The latest refusal to cut rates, and the MPC’s decision to decline meeting with finance ministry officials before its deliberations on monetary policy, will be hailed by those who are interested in good governance.
In the absence of working and effective infrastructure, cash transfers cannot ensure that the poor and those most at risk will get the quality of life they deserve.
The government seems to either not notice or not care about the many glitches in the Aadhaar system, as it enters more and more parts of our lives.
In a recent discussion in Washington, the chief economic adviser talked on Aadhaar failure rates, pushing Universal Basic Income forward and how demonetisation’s popular response humbled him.
Discussion on serious economic challenges currently faced by India is either absent or trivialised in this year’s Economic Survey.
Unusual citations in the survey could indicate the awkward situation of the chief economic adviser, in the face of interference by the finance minister or even the prime minister’s office.
The finance minister’s announcements on moving towards a more progressive direct tax structure and tax incentives for MSMEs are heartening.
Not only has the Budget failed to include measures to fix the damage caused by demonetisation, it also hasn’t taken advantage of the opportunities created.
While opinions vary on how long the disruptions caused by Modi’s crackdown on untaxed and illicit wealth will last, there is near unanimity among economists that Asia’s third-largest economy needs a helping hand.
The factors used by rating agencies do not cover the entire picture, the Economic Survey has said, and it does not look like the same criteria are used for different countries.
From potentially slashing middle-class subsidies as a method of funding a UBI, to eyeing the RBI’s reserves as a means of creating a ‘Bad Bank’, this year’s Economic Survey tackles three pressing issues.
An NGO’s annual reports on primary education have gained popularity in India and abroad, but its fundamental message on poor learning levels remains unheeded.
Everyone knows why the previous governor of RBI had to leave. Urjit Patel understands the circumstances under which he assumed charge but has still risen to the occasion.
Arvind Subramanian’s earlier statements indicate he has been against the idea of “Big Bang” reforms, arguing instead for an incrementalist approach.
Indian business leaders are concerned that the rabble-rousing business tycoon’s tough trade beliefs and xenophobia could negatively impact the country.
India buys six times the merchandise it sells to China, which is its largest trade partner.
A poorly implemented GST could be politically counter-productive. Which is why we should not treat it as a panacea, but as an instrument that may have to be refined in the coming years.
New Delhi: Taking his attack against those in charge of the finance ministry to a new level, Bharatiya Janata Party MP Subramanian Swamy today issued a veiled threat to those asking him to follow restraint saying that if he “disregarded discipline there will be a bloodbath.” “People giving me unasked […]
Surely the voice of true nationalism deserves to be heard in the real corridors of power and not on Twitter
There is no dearth of talent to replace him as head of the Reserve Bank. But the question analysts are asking is how much freedom his successor will have.
Gujarat and Tamil Nadu, while having bigger economies, contribute substantially less in terms of direct tax collection when compared to Karnataka and Delhi.
As long as the government wisely spends the money it borrows on high-return capital expenditure, it will crowd in private investment and ensure lasting and higher growth.
Many of the challenges that the Budget will seek to address tomorrow, come from a need to increase public spending as well as present a credible fiscal consolidation plan
How credible is the government’s fiscal consolidation plan when it is struggling with the country’s significant legacy problems?
An accurate report card or an exercise in theatrics? The Economic Survey takes a look at the current scenario and the financial future ahead.
Contrary to the NDA’s political claims, the overall emerging picture does not indicate a revival of the economy as had been stated in early 2015. Consequently, the government’s economic managers will remain in fire-fighting mode in 2016.
This week we once again heard the prime minister and finance minister speak, at a recent media house event in the capital, about how well the economy is doing. The truth is nothing can improve our economic fundamentals till public investment is sharply increased. Manipulating statistics may help manage global headlines for […]
The Finance Ministry’s proposals for high-tech cash transfers as a foundation for social policy in India are fraught with dangers.
When the one nationwide pension scheme for the elderly covers only a third of those eligible and is itself starved of funds, there is little sense in getting excited about Jan Dhan, Aadhaar-linked payments and mobile money.