-The Economic Times NEW DELHI: The government proposes to use Aadhaar to identify beneficiaries under the Socio Economic and Caste Census to weed out frauds and duplication. The rural development ministry will soon launch the exercise to use the 12-digit unique identity number to assess the socio economic status of all the beneficiaries under the second Socio Economic Caste Census (SECC), which is due in 2021. A senior government official told ET on...
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All the major announcements made by Nirmala Sitharaman to boost economic growth
-The Hindu Nirmala Sitharaman said that India’s GDP continues to grow at a faster pace than the global economy and any other major economy. Union Finance Minister Nirmala Sitharaman announced a slew of measures on August 23 to prop up the slowing economy. Addressing a press conference, Ms. Sitharaman sought to dispel doubts over the economy and the government’s growth agenda. Announcing that the global GDP growth may be revised downwards from the...
More »Govt withdraws super-rich surcharge on foreign, domestic equity investors
-PTI NEW DELHI: Buckling under pressure from overseas investors, the government on Friday rolled back the enhanced surcharge imposed on foreign portfolio and domestic investors in Budget 2019-20 as it announced a slew of measures to boost sagging economic growth. "In order to encourage investment in the capital market, it has been decided to withdraw the enhanced surcharge levied by Finance (No.2) Act, 2019 on long/short term capital gains arising from the...
More »A politically inconvenient data nugget -Puja Mehra
-The Hindu Data on demonetisation’s contribution to the deepening economic slowdown may have been suppressed Was a task force report that recommended a new law to replace the more than 50-year-old Income Tax Act, 1961 suppressed because it inadvertently provided factual evidence for the debilitating impact of demonetisation on the formal corporate sector? On September 1-2, 2017, at the Rajaswa Gyan Sangam (an annual conference of senior tax administrators), Prime Minister Narendra Modi...
More »Corporate tax reduction: They already pay much less than required effective -Subodh Varma
-Newsclick.in Effective tax rate for Big Business in India was 26.3% although statutory rate is 34.6%, according to Budget documents. There is a proposal that corporate taxes should be reduced to 25% from 30%. According to reports, this has been mooted in a report submitted to the finance minister by a panel headed by Akhilesh Ranjan, member of the Central Board of Direct Taxes (CBDT). However, data on corporate taxes put out...
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