-The Hindu City’s revenue collection registers a growth of 14.7% in 2017-2018; debt problem ‘well under control’, states Economic Survey tabled in Assembly New Delhi: The Delhi government’s revenue collection, the per capita income of Delhiites and the percentage of growth of the Gross State Domestic Product (GSDP) of the Capital are all estimated to see an upward trend, according to the Economic Survey of Delhi 2018-2019. Tabled by Delhi Finance Minister Manish...
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Two sides of the coin: Tax incentives and revenue forgone -Suraj Jaiswal and Neeti Biyani
-Down to Earth The use of tax incentives to attract investments is prevalent around the world. However, there is no definitive data on the global magnitude of incentives granted because not all countries collect and publicly report such data and there is no common methodology for reporting across all countries. Rough estimate by Action Aid (2013) pegs the incentives granted by developing countries from corporate income tax (CIT) at $138 billion....
More »CAG Criticises Modi Govt For Using Creative 'Off-Budget Financing' Techniques
-TheWire.in The national auditor believes that such methods allow the Centre to understate the true fiscal and revenue deficits in a given year. New Delhi: India’s national auditor has raised red flags over the Narendra Modi government’s propensity to borrow funds using “off-budget” methods, a practice that allows it to Finance capital and revenue spending while maintaining deficit targets. The criticism comes from an audit report tabled in parliament on Tuesday, but is...
More »MSP was not 1.5 times the cost of production for most kharif crops during the last 6 agricultural years
In its 2014 election manifesto, the Bharatiya Janata Party (BJP), among other things, promised to "take steps to enhance the profitability in agriculture, by ensuring a minimum of 50% profits over the cost of production". In his 2018-19 Union budget speech too, the Finance Minister Shri Arun Jaitley informed the Parliament that the 2014 election manifesto of the BJP had stated that the farmers should get at least 1.5 times the...
More »Prof. Abhijit Sen, a former member of the erstwhile Planning Commission, interviewed by M Rajshekhar (Scroll.in)
-Scroll.in The former Planning Commission member explains why the country needs to tread carefully on this idea. On January 1, when Indian news agency ANI asked Prime Minister Narendra Modi about the government’s plans to reduce agrarian distress, he said loan waivers do not work as a very small segment of farmers take loans from banks. “A majority of them take loans from money lenders,” said Modi. “When governments make such announcements,...
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