-The Hindu The indirect tax collections were 27% higher than that in March 2020. The gross GST collections in March hit a record of ₹1,23,902 crore, the Union Finance Ministry said on Thursday. This is the sixth month in a row that GST revenues have remained above ₹1 lakh crore. “The GST collections for March have created a record; it has never been so high. We have crossed the record collections by a...
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Niti group works on new policy to regulate civil society groups, member says for ‘healthy partnership with govt’ -Karishma Mehrotra
-The Indian Express The working group includes Joint Secretaries of the Financial Action Task Force division of Department of Economic Affairs as well as the Counter Terrorism and Counter Radicalisation Division/Combating of Funding of Terrorist Cell in the Ministry of Home Affairs. A NITI Aayog group is working on a national policy to regulate civil society organisations following directions from the Prime Minister’s Office. Constituted in September last year, the Working Group for...
More »20 states gets additional borrowing permission of Rs 39,521 crore
-The Telegraph They have completed the 'ease of doing business' reforms stipulated by the department of expenditure Twenty states have completed the “ease of doing business” reforms stipulated by the department of expenditure, which would enable them to get an additional borrowing permission of Rs 39,521 crore through open market borrowings, the finance ministry said on Saturday. “States completing ease of doing business reforms are eligible for additional borrowing of 0.25 per cent...
More »Five more States complete ease of doing business reforms
-PTI/ The Hindu With this, 20 States are now eligible for an additional borrowing of 0.25% of Gross State Domestic Product. As many as 20 States have successfully completed ease of doing business reforms, the Finance Ministry said on Saturday. States completing the reforms are eligible for additional borrowing of 0.25% of Gross State Domestic Product (GSDP). “The number of States that have successfully completed the 'Ease of Doing Business' reforms has reached to...
More »Tax exemptions and incentives for the corporate sector continue despite reduction in corporate tax rates
Quite often it is argued by mainstream economists that a sizeable chunk of the Union Budget every year is wasted because the Government spends that on food and fertiliser subsidies. The burgeoning size of these two subsidies relative to the entire budget as well as the gross domestic product (GDP) is often used to build the argument that economic as well as environmental sustainability of the country is at stake...
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