-The Indian Express A smooth GST regime can break inter-state barriers on movement and facilitate direct linkages between processors and farmers After more than a decade of intense discussion and debate, the GST is finally becoming a reality. Although in its current form, it is not as perfect as was originally envisaged, yet it is being lauded as one of the most transformational reforms since 1991. Finance Minister Arun Jaitley was humble...
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Confusion reigns on CAG audit of GST data -Josy Joseph
-The Hindu Auditor denied access to GST Network The crucial question about how and where auditors should get access to GST data continues to hang fire, even as hundreds of CAG auditors are being put through specialised training in anticipation of the implementation of the new tax regime from July 1. Various government officials, including ministers, have been insisting that the proposed tax regime will come into force as scheduled. The GST Network...
More »Demonetisation: 35 per cent job losses, 50 per cent revenue dip, says study by largest organisation of manufacturers -Arun Janardhanan
-The Indian Express The study, conducted by AIMO, has also projected a drop in employment of 60 per cent and loss in revenue of 55 per cent before March 2017. Chennai: IN THE first 34 days since demonetisation, micro-small scale industries suffered 35 per cent jobs losses and a 50 per cent dip in revenue, according to a study conducted by India’s largest organisation of manufacturers. The study, conducted by the All...
More »M Govinda Rao, ex-Director, National Institute of Public Finance and Policy (2003-13), interviewed by S Rajendran (The Hindu)
-The Hindu Centre for Politics and Public Policy Prime Minister Narendra Modi's announcement demonetising high denomination notes on November 8, 2016, will do little to address the prime objective of flushing out black money but will adversely affect the economy in the short term, especially the informal sector, which is predominant in India, says M. Govinda Rao, a Member of the Fourteenth Finance Commission and Emeritus Professor, National Institute of Public...
More »50% of states expected to approve GST by early September -Sidhartha & Surojit Gupta
-The Times of India NEW DELHI: With half the state legislatures expected to ratify the Constitution amendment bill to roll out goods and services tax (GST) by early September, the Centre is now moving to the next stage — deciding on the contentious issue of fixing the rates — so that the ambitious reform initiative is in place by April. Sources said the finance ministry is set to hold consultations on the...
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