Believe it or not, the total revenue foregone in 2017-18 on account of special tax rates, exemptions, deductions, rebates, deferrals and credits -- broadly termed as 'tax expenditures' (an indirect subsidy) – that was given to corporate taxpayers has been more than 50 percent of the expenditure incurred by the Ministry of Agriculture & Farmers Welfare (MoAFW) and the Ministry of Rural Development (MoRD) altogether in that year. In other...
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What the US Health Insurance Programme Can Teach India -Rama V Baru
-TheWire.in Why has India chosen the path of expanding medical insurance instead of a more comprehensive approach to health? The concern with rising inequities in access to medical care, rising out-of-pocket expenditures and unmet treatment needs have been addressed with yet another targeted medical insurance scheme for poor households. The idea of a targeted medical insurance is not new. Several southern states like Andhra Pradesh and Karnataka had introduced such schemes many...
More »Richest Companies have the lowest tax liability -Tina Edwin
-The Hindu Business Line They milk tax breaks in ways that smaller firms can’t, paying only 23.9% tax on average New Delhi: India’s most profitable Companies paid 23.9 per cent tax on an average on their profits for financial year 2016-17, about 10.7 percentage points lower than the statutory rate of 34.6 per cent, helped by a wide range of concessions and incentives, the latest Budget documents show. These Companies, 335 in all,...
More »I-Day launch goal for National Health Protection Scheme, aims to cover 10 crore poor families -Abantika Ghosh
-The Indian Express The ambitious scheme aims to cover over 10 crore “poor and vulnerable” families — an estimated 50 crore individual beneficiaries — with coverage of up to Rs 5 lakh per family per year. The Niti Aayog is working towards a launch on Independence Day of the government’s latest flagship National Health Protection Scheme, which was announced in the Union Budget Thursday. Top officials in the Aayog said that...
More »India Economic Survey 2018: Arvind Subramanian says economic revival underway; 4 key takeaways -Sushruth Sunder
-The Financial Express India Economic Survey 2018: Chief Economic Advisor Arvind Subramanian says that the Indian economy is showing robust signs of recovery and a series of major reforms undertaken over the past year will allow real GDP growth to reach 6.75 percent this fiscal and will rise to 7.0 to 7.5 percent in 2018-19. Addressing media in the press conference post release of the economic survey, CEA Arvind Subramanian noted...
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