During Budget presentations, Budget documents, which are provided, carry updated data and information related to various departments and ministries of the Central Government such as on revenues, expenditures, deficits etc. Recently economists like Dr. Rathin Roy and Prof. Jayati Ghosh have expressed concerns about the Ministry of Finance for not uploading updated and appropriate Budgetary data and figures on the website www.indiaBudget.gov.in following the 2019-20 Union Budget presentation by the...
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A new mandi tax -Harish Damodaran
-The Indian Express A 2 per cent TDS on cash withdrawals beyond Rs 1 crore may hit the farm trade hard. One of the 2019-20 Union Budget’s less-discussed proposals, having significant implications for agricultural trade, is the levy of a 2% TDS (tax deducted at source) on cash withdrawals exceeding Rs 1 crore in a year from any bank account. The levy — aimed at promoting “digital payments” and a “less cash...
More »A hand-to-mouth Budget -Puja Mehra
-The Hindu It is inescapable from the arithmetic that revenue expenditures and tax revenues are in need of serious corrections Finance Minister Nirmala Sitharaman began a new practice in the Union Budget, presented on July 5, when she relegated the numbers, or the Budgeting, to the fine print, in a break with tradition; they are usually presented as a part of the speech on the floor of the House in Parliament. What are...
More »ICAR to study zero Budget farming before its rollout -Rituraj Tiwari
-The Economic Times Zero-Budget farming is being promoted in several areas as a low-cost, natural alternative to prevalent practices of heavy use of chemical fertilisers and pesticides. NEW DELHI: The government has asked the Indian Council of Agricultural Research (ICAR), India’s top farm research institution, to conduct a study on the efficacy zero Budget farming (ZBF) results before its nationwide rollout. NITI Aayog member and agricultural economics and policy expert Ramesh Chand...
More »Demands for Grants, Finance Bill may escape scrutiny of Parliamentary panels -Shishir Sinha
-The Hindu Business Line Almost half of the Budgetary exercise is over, but Parliament is yet to see formation of department-related standing committees (DRSC). This means Demands for Grants and the Finance Bill will not be vetted by DRSCs as of now. The Lok Sabha is scheduled to take up the Finance Bill for consideration and passage during the week starting July 15. There will also be discussions and voting on Demands...
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