Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 150
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Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 151
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 97
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

                trigger_error($message, E_USER_WARNING);

            } else {
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    <h1 class="cat-box-title">Jaitley&#039;s Tax Argument Isn&#039;t a Good Indicator of India&#039;s Economic Health -Suyash Rai</h1>
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                            <div align="justify">-TheWire.in<br /><br /><em>Using tax collection numbers as signifiers of robust economic activity may be highly optimistic.<br /></em><br />One of the most interesting questions in Indian macroeconomics today is &ndash; how are we faring since late 2016? In this article, I seek to analyse data on tax revenues and obtain some clues about the performance of the economy.<br /><br />In a press release published on January 9, the central government reported the following increases in tax collections during April-December 2016 compared to the corresponding period of the previous year:<br /><br />* Central excise duty: 43%<br />* Service tax: 23.9%<br />* Customs duty: 4.1%<br />* Corporation tax: 4.4%<br />* Income tax: 24.6%<br /><br />These are large values. Holding other things constant, they suggest buoyant economic activity. However, when looking at tax data, we have to look at the extent to which other things are indeed constant. When analysing tax data, in order to read the state of the macroeconomy, we need to adjust for the part of the tax revenues which are on account of Additional Revenue Mobilisation (ARM). Two kinds of ARM are:<br /><br />* An increase in tax rate: additional revenues due to higher rate do not indicate the robustness of the underlying activity.<br /><br />* An administrative measure: additional revenues from one-time administrative measures (eg. a tax amnesty scheme) may not reflect the underlying economic activity.<br /><br />Please <a href="https://thewire.in/100745/jaitleys-tax-argument-isnt-good-indicator-indias-economy-health/" title="https://thewire.in/100745/jaitleys-tax-argument-isnt-good-indicator-indias-economy-health/">click here</a> to read more. <br /></div>                                                           
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    <br><a href="https://thewire.in/100745/jaitleys-tax-argument-isnt-good-indicator-indias-economy-health/" class="re" target="_blank">TheWire.in, 17 January, 2017, https://thewire.in/100745/jaitleys-tax-argument-isnt-good-indicator-indias-economy-health/</a><div class="clear"></div>
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    <h1 class="cat-box-title">Jaitley&#039;s Tax Argument Isn&#039;t a Good Indicator of India&#039;s Economic Health -Suyash Rai</h1>
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                            <div align="justify">-TheWire.in<br /><br /><em>Using tax collection numbers as signifiers of robust economic activity may be highly optimistic.<br /></em><br />One of the most interesting questions in Indian macroeconomics today is &ndash; how are we faring since late 2016? In this article, I seek to analyse data on tax revenues and obtain some clues about the performance of the economy.<br /><br />In a press release published on January 9, the central government reported the following increases in tax collections during April-December 2016 compared to the corresponding period of the previous year:<br /><br />* Central excise duty: 43%<br />* Service tax: 23.9%<br />* Customs duty: 4.1%<br />* Corporation tax: 4.4%<br />* Income tax: 24.6%<br /><br />These are large values. Holding other things constant, they suggest buoyant economic activity. However, when looking at tax data, we have to look at the extent to which other things are indeed constant. When analysing tax data, in order to read the state of the macroeconomy, we need to adjust for the part of the tax revenues which are on account of Additional Revenue Mobilisation (ARM). Two kinds of ARM are:<br /><br />* An increase in tax rate: additional revenues due to higher rate do not indicate the robustness of the underlying activity.<br /><br />* An administrative measure: additional revenues from one-time administrative measures (eg. a tax amnesty scheme) may not reflect the underlying economic activity.<br /><br />Please <a href="https://thewire.in/100745/jaitleys-tax-argument-isnt-good-indicator-indias-economy-health/" title="https://thewire.in/100745/jaitleys-tax-argument-isnt-good-indicator-indias-economy-health/">click here</a> to read more. <br /></div>                                                           
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    <br><a href="https://thewire.in/100745/jaitleys-tax-argument-isnt-good-indicator-indias-economy-health/" class="re" target="_blank">TheWire.in, 17 January, 2017, https://thewire.in/100745/jaitleys-tax-argument-isnt-good-indicator-indias-economy-health/</a><div class="clear"></div>
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-TheWire.in

Using tax collection numbers as signifiers of robust economic activity may be highly optimistic.

One of the most interesting questions in Indian macroeconomics today is &ndash; how are we faring since late 2016? In this article, I seek to analyse data..." />
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    <h1 class="cat-box-title">Jaitley&#039;s Tax Argument Isn&#039;t a Good Indicator of India&#039;s Economic Health -Suyash Rai</h1>
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                            <div align="justify">-TheWire.in<br /><br /><em>Using tax collection numbers as signifiers of robust economic activity may be highly optimistic.<br /></em><br />One of the most interesting questions in Indian macroeconomics today is &ndash; how are we faring since late 2016? In this article, I seek to analyse data on tax revenues and obtain some clues about the performance of the economy.<br /><br />In a press release published on January 9, the central government reported the following increases in tax collections during April-December 2016 compared to the corresponding period of the previous year:<br /><br />* Central excise duty: 43%<br />* Service tax: 23.9%<br />* Customs duty: 4.1%<br />* Corporation tax: 4.4%<br />* Income tax: 24.6%<br /><br />These are large values. Holding other things constant, they suggest buoyant economic activity. However, when looking at tax data, we have to look at the extent to which other things are indeed constant. When analysing tax data, in order to read the state of the macroeconomy, we need to adjust for the part of the tax revenues which are on account of Additional Revenue Mobilisation (ARM). Two kinds of ARM are:<br /><br />* An increase in tax rate: additional revenues due to higher rate do not indicate the robustness of the underlying activity.<br /><br />* An administrative measure: additional revenues from one-time administrative measures (eg. a tax amnesty scheme) may not reflect the underlying economic activity.<br /><br />Please <a href="https://thewire.in/100745/jaitleys-tax-argument-isnt-good-indicator-indias-economy-health/" title="https://thewire.in/100745/jaitleys-tax-argument-isnt-good-indicator-indias-economy-health/">click here</a> to read more. <br /></div>                                                           
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    <br><a href="https://thewire.in/100745/jaitleys-tax-argument-isnt-good-indicator-indias-economy-health/" class="re" target="_blank">TheWire.in, 17 January, 2017, https://thewire.in/100745/jaitleys-tax-argument-isnt-good-indicator-indias-economy-health/</a><div class="clear"></div>
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Jaitley's Tax Argument Isn't a Good Indicator of India's Economic Health -Suyash Rai

Published on Jan 18, 2017   Modified on Jan 18, 2017

-TheWire.in Using tax collection numbers as signifiers of robust economic activity may be highly optimistic. One of the most interesting questions in Indian macroeconomics today is – how are we faring since late 2016? In this article, I seek to analyse data on tax revenues and obtain some clues about the performance of the economy. In a press release published on January 9, the central government reported the following increases in tax collections during April-December 2016 compared to the corresponding period of the previous year: * Central excise duty: 43% * Service tax: 23.9% * Customs duty: 4.1% * Corporation tax: 4.4% * Income tax: 24.6% These are large values. Holding other things constant, they suggest buoyant economic activity. However, when looking at tax data, we have to look at the extent to which other things are indeed constant. When analysing tax data, in order to read the state of the macroeconomy, we need to adjust for the part of the tax revenues which are on account of Additional Revenue Mobilisation (ARM). Two kinds of ARM are: * An increase in tax rate: additional revenues due to higher rate do not indicate the robustness of the underlying activity. * An administrative measure: additional revenues from one-time administrative measures (eg. a tax amnesty scheme) may not reflect the underlying economic activity. Please click here to read more.

TheWire.in, 17 January, 2017, https://thewire.in/100745/jaitleys-tax-argument-isnt-good-indicator-indias-economy-health/

Tagged with: Indirect Tax Indirect Taxes tax buoyancy tax collection Tax rates Tax Revenue Tax/GDP ratio Taxation tax collection Tax Revenue

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