-Business Standard GVA growth at 2-year low of 5.6%; Farming only bright spot India’s economic growth fell to 6.1 per cent in the fourth quarter (Q4) of 2016-17 (FY17), primarily because of demonetisation adversely affecting economic activity. This was at least a four-quarter low. The sectors worst affected were construction and financial services. Without indirect taxes, growth figures would be more dismal. Gross value added (GVA), the difference between gross domestic product...
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Cong smells farm tax
-The Telegraph New Delhi: The Congress today alleged that the Narendra Modi government was testing the waters on bringing agricultural income within the tax ambit and declared its intention to build a movement of farmers if the idea was implemented. "This government is harassing industrialists, traders, students, political rivals... only one section of the society was left, that is farmers," Congress leader Ghulam Nabi Azad said. "The statements coming from important people in...
More »'States can levy tax on farm income'
-PTI New Delhi: Joining the debate on taxing agriculture income, Chief Economic Adviser Arvind Subramanian today said states, which have the option to levy the tax, should make a distinction between rich and poor farmers. “The legal situation is...nothing prevents state governments from taxing agriculture income. The constitutional restriction is on central government taxing agriculture income. “There too, one could make a case that this is a choice open to 29 state governments...
More »Does the Banking System Really Want to Help Farmers? -Devinder Sharma
-TheWire.in The corporate sector is responsible for 70% of the country’s NPAs, but their loans are being waived off while waiving farming loans is still being frowned upon. The Gujarat government gave a loan of Rs 456.79 crore to the Tatas to set up the Nano plant at Sanand, near Ahmedabad. The Gujarat government has acknowledged that the massive loan was given at an interest of 0.1%, to be paid back in...
More »Feeding insecurities -Reetika Khera
-The Hindu Business Line Aadhaar does more damage than good in welfare programmes It is widely believed that Aadhaar-Based Biometric Authentication (ABBA) is necessary to improve the delivery of welfare programmes such as the Mahatma Gandhi National Rural Employment Guarantee Act (MNREGA), Public Distribution System (PDS), social security pensions, and so on. This is a misconception. We have been studying these programmes for a decade, focusing mainly on the source of leakages and...
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