Often exports made by a country to the rest of the world are seen in a positive light by us. It is because exports not only earn precious foreign currencies (that can be used for importing goods and services or simply be used for building forex reserves), it also helps in generating effective demand for goods and services produced in that country and hence, contributes to economic or GDP growth....
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How to pay for the stimulus -Pulapre Balakrishnan
-The Hindu Money financing is a viable route to take us back to pre-COVID-19 levels of output Former Prime Minister Dr. Manmohan Singh and his Congress party colleague Praveen Chakravarty have, in these pages, written on the appropriate policy response to the currently depressed state of the economy. Given Dr. Singh’s deep understanding of the subject, this is in the nature of invaluable counsel. Unlike the dispensation in power, he and his...
More »States cannot be left to the Centre’s mercy -Praveen Chakravarthy
-The Hindu Not only are the States not paid what is due to them, they have also lost the powers to raise their own sales tax revenues Karur MP S Jothimani recently conducted a telephonic survey of 30 lakh people in Tamil Nadu on the re-opening of liquor shops in the State during lockdown 3.0. An overwhelming 89% were opposed to the move. The Maharashtra government too decided to permit liquor shops to...
More »Modi Government is on a Dangerous Course -Prabhat Patnaik
-Newsclick.in The BJP government’s centralising tendency and its attitude towards the financial needs of states during this pandemic, is symptomatic of a thinking that will weaken the very foundations of modern India. Despite repeated demands by the states, the Centre has still not released what is their legitimate due, namely, compensation for their revenue loss owing to the introduction of goods and services tax or GST; this has not been paid since...
More »Covid-19: Centre rejects IRS’ proposal of taxing the super rich, calls it an ‘act of indiscipline’
-Scroll.in The finance ministry has directed the CBDT chairperson to seek an explanation from these officers for writing such ‘ill-conceived views’ in public. The Centre on Sunday rejected a proposal made by officials of the Indian Revenue Service suggesting the government should increase Taxes to cushion the economic fallout of the coronavirus pandemic. The Centre called it “an act of indiscipline”, NDTV reported. In a 44-page report titled FORCE, or Fiscal Options and...
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