-The Hindu A levy on firms, resources from which are earmarked for vocational training, is what could help the country bridge the skill gap in its workforce. Financing technical vocational education and training (VET) is costlier than general education due to its technical nature. Pre-service training requires the installation of equipment and trained instructors to train youth. This raises the cost of training, and remains a factor preventing pre-service training from expanding...
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Chickpeas futures trading may face ban
-The Hindu States asked to exempt pulses from Value Added Tax and other local levies to control prices The government is considering banning futures trading in chana dal (brown chickpeas) and reducing import duty on sugar as part of its efforts to rein in inflation, according to a top official. Higher food prices, led by pulses and sugar, pushed wholesale price inflation into positive territory in April after 17 months of decline while...
More »India’s jobless growth is undermining its ability to reap the demographic dividend -Christophe Jaffrelot
-The Indian Express The last quarterly survey by the Labour Bureau showed that India has never created so few jobs, since the survey started in 2009 The last quarterly survey by the Labour Bureau showed that India has never created so few jobs, since the survey started in 2009, as in 2015: Only 1.35 lakh jobs compared to more than nine lakh in 2011 and 4.19 lakh in 2013 in eight labour-intensive...
More »Farmers are tax exempt, so is company with Rs 215 cr profit -Charu Bahri
-IndiaSpend Agro-companies growing crops are allowed the same tax relief as individuals in states levying no agricultural income tax Mt Abu: It’s reasonably well known that income from agriculture attracts no tax in India. What isn’t quite as well known is that of more than 400,000 taxpayers claiming exemption for agricultural income in the assessment year 2014-15, the biggest were seed giant Kaveri Seeds—it claimed Rs 186.63 crore exemption and made a profit...
More »Tax waiver on 'affordable' flats may mean big profits for builders -Nauzer Bharucha
-The Times of India MUMBAI: The 100% tax waiver announced in the Union Budget on `small flats' to encourage affordable housing can lead to builders laughing all the way to the bank. Take a hypothetical case: Nothing stops a developer from constructing tiny 300square-foot apartments in tony Napean Sea Road in south Mumbai, selling them at, say, Rs 70,000sq ft, and getting a total tax waiver on profits. Experts say no law...
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