-The Times of India blog Indira Gandhi’s ‘Garibi Hatao’ swept the polls in 1971. Rahul Gandhi hopes to follow suit with NYAY (Nyuntam Aay Yojana), promising a minimum income of Rs 72,000 per year to the 50 million poorest families. Garibi Hatao flopped badly. So will NYAY unless totally rethought. Indian parties have a consensus on cash grants to the needy. Schemes in Telangana, Odisha and Jharkhand have been followed by Modi’s...
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Direct Tax collection falls short, CBDT raises alarm
-PTI The CBDT has been worried over the direct Tax collection work for quite some time The Central Board of Direct Taxes (CBDT) has rung alarm bells and has asked the Income Tax Department to go for a major assault as the direct Tax collection target remains short of about 15%, with the financial year closing less than a week away. On March 26, CBDT Member (Revenue) Neena Kumar shot off a letter...
More »Delhiites' per capita income thrice the national average
-The Hindu City’s revenue collection registers a growth of 14.7% in 2017-2018; debt problem ‘well under control’, states Economic Survey tabled in Assembly New Delhi: The Delhi government’s revenue collection, the per capita income of Delhiites and the percentage of growth of the Gross State Domestic Product (GSDP) of the Capital are all estimated to see an upward trend, according to the Economic Survey of Delhi 2018-2019. Tabled by Delhi Finance Minister Manish...
More »Who will pay for sops? -Arun Kumar
-The Indian Express Government’s claim that structural changes to the economy are paying off, and that is being used to give back to the people, is problematic. The Interim Union Budget 2019 is no less than a full budget with changes in taxation and announcement of lucrative schemes for various sections of the population. The recent losses in three major assembly elections rang alarm bells for the ruling dispensation. With the...
More »Two sides of the coin: Tax incentives and revenue forgone -Suraj Jaiswal and Neeti Biyani
-Down to Earth The use of tax incentives to attract investments is prevalent around the world. However, there is no definitive data on the global magnitude of incentives granted because not all countries collect and publicly report such data and there is no common methodology for reporting across all countries. Rough estimate by Action Aid (2013) pegs the incentives granted by developing countries from corporate income tax (CIT) at $138 billion....
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