-The Hindu India’s record in collecting taxes has been pathetic, and it is getting worse. The declining rates of direct taxation are an indication of the political choices of the government We now have a peculiar combination in the economic policy of India: a declared attempt at fiscal consolidation, combined with a reluctance to do what it takes to raise tax revenues. This unfortunate juxtaposition has meant a squeeze on Central government...
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Forty coal importers under the DRI scanner for over-invoicing
-The Hindu Business Line Firms of Adani, Anil Ambani, Essar, JSW Groups and some PSUs being probed NEW DELHI: The Finance Ministry and the Directorate of Revenue Intelligence (DRI) are said to have stepped up investigations into the alleged over-invoicing of coal imports by 40 companies — both in the public and private sector — to the tune of Rs. 35,000 crore. “It is an issue that has been going on for the...
More »Global food prices edge up in March; cereal production outlook robust – UN
-United Nations World cereal production in 2016 is set to reach 2,521 million tonnes, just 0.2 per cent below last year’s and the third-highest on record, the United Nations Food and Agriculture Organization (FAO) said today. Large inventory levels and relatively sluggish global demand mean that market conditions for staple food grains appear stable for at least another season, the agency's latest Cereal Supply and Demand Brief predicts. According to the FAO Food...
More »Rains may break 2-yr El Nino jinx
-Business Standard After a hotter than usual summer, a better monsoon would boost agriculture, rural demand Reserve Bank of India Governor Raghuram Rajan's hopes of a normal monsoon this year - after two back-to-back droughts - to boost rural demand could be fulfilled. Though the summer is expected to be hotter than usual, global and domestic forecasts point to good rains this year. Officials of both the weather department and private forecasters said the...
More »Indian agriculture yet to catch up with neighbours on public spending, indicates IFPRI report
Amidst the prevailing gloominess over agrarian crisis, a recently released report says that the growth rate of agricultural output in both India and China were the same during 2008-2013. The agricultural gross domestic product (GDP) of both these countries on an average grew at 3.3 percent per annum during that period. The latest available data from the 2016 Global Food Policy Report, however, indicates that the neighbouring countries of Sri Lanka...
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