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<p style="text-align:justify"><em>The government’s announced fiscal policy stance and the fiscal regime it is running seem contradictory</em></p>
<p style="text-align:justify">There used to be a time — and this was well before India began to globalise — when each Union Budget announced sales tax increases on tobacco products, especially cigarettes. The demand for cigarettes being somewhat inelastic, the rise in tax was expected to be a shot in the arm for the revenue-starved government of our poor country.</p>
<p style="text-align:justify"><em>Increase in excise duty</em></p>
<p style="text-align:justify">India is less poor now, having risen to the rank of an emerging market economy. Yet, COVID-19 has ushered in a cataclysm. As opposed to a Budget estimate of 3.5% for fiscal deficit, the revised estimates show a 2.7 times larger deficit of 9.5% for FY 2020-21. Moreover, a comparison of the government’s revised Budget estimates with the original Budget estimates reveals a fall in receipts from every source of taxation except excise. The revised Budget shows a rise of ₹94,000 crore on account of excise duties alone. Presumably, the increase comes from the much-debated excise duty increases on petroleum and diesel. As far as the Budget documents go, the excise duty rise will hardly compensate for the huge falls in other tax revenues. It is not surprising, therefore, that despite the excise rise, the fiscal deficit continues to be higher than the Budget estimate. In fact, the larger excise duty collection is not large enough to have significantly reduced the inflated fiscal deficit figure.</p>
<p style="text-align:justify">Please <a href="https://www.thehindu.com/opinion/op-ed/a-changing-fiscal-framework/article33916726.ece?homepage=true">click here</a> to read more.</p>
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LATEST NEWS UPDATES | A changing fiscal framework -Dipankar Dasgupta </title>
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The government’s announced fiscal policy stance and the fiscal regime it is running seem contradictory
There used to be a time — and this was well before India began to globalise — when each Union Budget announced sales tax increases..."/>
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The government’s announced fiscal policy stance and the fiscal regime it is running seem contradictory
There used to be a time — and this was well before India began to globalise — when each Union Budget announced sales tax increases..." />
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<br><small>February 23, 2021</small>
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According to a statement from the US Secretary of State Antony Blinken, the award recognises individuals who have worked tirelessly, often in the face of adversity, to defend transparency, combat corruption, and ensure accountability in their own countries.
Washington: The United States on Tuesday honoured Indian...</p>
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<br><small>February 23, 2021</small>
<p style="padding-top: 6px;">-PTI/ NDTV
Farmers Protest: Nodeep Kaur, the 23-year-old activist, has also claimed that her medical examination was not conducted in violation of section 54 of the Criminal Procedure Code.
Chandigarh: Labour rights activist Nodeep Kaur in her bail plea before the Punjab and Haryana High Court has...</p>
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<br><small>February 23, 2021</small>
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Farmers Protest: Nodeep Kaur, the 23-year-old activist, has also claimed that her medical examination was not conducted in violation of section 54 of the Criminal Procedure Code.
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<br><small>February 23, 2021</small>
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Farmers Protest: Nodeep Kaur, the 23-year-old activist, has also claimed that her medical examination was not conducted in violation of section 54 of the Criminal Procedure Code.
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LATEST NEWS UPDATES | A changing fiscal framework -Dipankar Dasgupta
-The Hindu
The government’s announced fiscal policy stance and the fiscal regime it is running seem contradictory
There used to be a time — and this was well before India began to globalise — when each Union Budget announced sales tax increases on tobacco products, especially cigarettes....
-The Indian Express
In the bail order, Additional Sessions Judge Dharmender Rana noted that the accused had "absolutely no criminal antecedents". Ravi was granted bail on a personal bond of Rs 1 lakh and two sureties of like amount.
Twenty-two-year-old activist Disha Ravi, who was arrested in...
-Livemint.com
* Trying to start a new life is turning out to be difficult due to a collapse in demand. A ground report from Bihar.
* Consumption of drugs has spiked to dangerous levels. So much so that cough syrup brands, sedative drugs like Netravet and an...
-NDTV
According to a statement from the US Secretary of State Antony Blinken, the award recognises individuals who have worked tirelessly, often in the face of adversity, to defend transparency, combat corruption, and ensure accountability in their own countries.
Washington: The United States on Tuesday honoured Indian...
-PTI/ NDTV
Farmers Protest: Nodeep Kaur, the 23-year-old activist, has also claimed that her medical examination was not conducted in violation of section 54 of the Criminal Procedure Code.
Chandigarh: Labour rights activist Nodeep Kaur in her bail plea before the Punjab and Haryana High Court has...
