-The Telegraph Arun Jaitley today drew loud cheers from the fiscal conservatives as he displayed "prudence" and stuck to the fiscal deficit - which captures the government's borrowing requirements - target of 3.9 per cent of the GDP for 2015-16 and pegged it at 3.5 per cent of the GDP for 2016-17. As the achievement came despite all the problems that the Indian economy faced - the Economic Survey presented details of...
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Pretending to be pro-poor, little change over UPA -Arun Kumar
-The Tribune While giving concessions worth Rs.1,000 crore in the direct taxes paid by the rich, the government plans to net an extra Rs. 19,000 crore in indirect taxes, which are contributed by all. This reveals a regressive intent. Like all Union budgets, this one also is long on promises but hides the real dynamics, namely, how the resources are to be raised for the promised very substantial expenditures. The budget is...
More »Data gaps hamper my work on India: Thomas Piketty -Jyotsna Singh
-Livemint.com The economist believes inequality in India is comparable with Brazil, South Africa but lack of transparency over direct tax statistics in India hinders his study here New Delhi: Economist Thomas Piketty believes inequality in India is comparable with that in Brazil and South Africa. Like the two other emerging economies, where the richest 10% of the population has a 60-65% share of total wealth, a similar scenario probably exists in...
More »Cess proceeds in a black hole
-The Hindu The National Democratic Alliance government has just introduced a cess of 0.5 per cent on all taxable services for the Swachh Bharat campaign. In February 2016, it will introduce a 2 per cent cess on airfares for all domestic flyers except those flying to remote locations, and international travellers. This cess is meant to fund losses that airlines may incur in connecting to hinterland locations. The Central government loves...
More »SC agrees to Rs 1,300 tax on polluting trucks -Dhananjay Mahapatra
-The Times of India NEW DELHI: In a bid to reduce the capital's high air pollution levels, the Supreme Court on Friday said it would order levying of a pollution tax of Rs 1,300 on heavy trucks and Rs 700 on light commercial vehicles to deter the smoke-spewing vehicles from entering the city. The court said it would pronounce the order on Monday and review the pollution situation in four months. The...
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