-Press released by All India Kisan Sangharsh Coordination Committee (AIKSCC) dated 1st February, 2020 Delhi, February 1st 2020: Budget fails to increase rural demand and purchasing power which would have boosted the economy - instead, the Budget only boosts the profits of big corporates and MNCs, said AIKSCC. When the crying need in India’s economy is to increase the demand and purchasing power in rural areas, and hence rural incomes, the...
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Budget 2020: Income Tax slabs lowered for those who forgo exemptions
-The Hindu Announcing new Income Tax proposals in the Union Budget 2020, Finance Minister Nirmala Sitharaman said that the new tax rates will be optional. In a proposal to simplify the personal Income Tax regime, Finance Minister Nirmala Sitharaman, in the Union Budget 2020 speech, said that Income Tax rates will be “significantly reduced” for those who forgo reliefs and exemptions. The new tax rates will be optional, she said. Please click here...
More »Budget 2020: With eyes wide shut, Modi govt gropes for solutions -Subodh Varma
-Newsclick.in Tax collections have plummeted and Modi Govt is scrambling to cut spending by Ministries, further deepening the crisis. For the first time in two decades, corporate and Income Tax collections are expected to fall in 2019-20. This is an indication of the gigantic mess created by the Narendra Modi government with its dogmatic commitment to reduce taxes on corporates and squeeze its own expenditure to supposedly boost the flagging economy. As...
More »Government must engage in a collaborative effort with farmer groups -Ajay Vir Jakhar
-The Indian Express There is an ambiguous provision to levy Income Tax on “dairying”. Either the provision should be removed or it should be clarified that it does not include dairy farmers. Dairying is a part of agriculture and as per the Constitution, it is a state subject. Those in power may not yet be accepting blame for the barrage of negative news on the state of the economy, but cracks are...
More »Why India faces a public funding crisis -Rathin Roy & Puja Mehra
-Livemint.com * The Centre has no money for a stimulus package. Only the states can find a way to get India out of the slowdown * States, taken collectively, are the only hope. Despite loan waivers, they are in a better position to boost public spending. But that would require coordinated work between the Centre?and the states NEW DELHI: On 1 February, finance minister Nirmala Sitharaman will present an important Union budget. The...
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