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Farmers' group not impressed with Union Budget 2020-21

-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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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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Govt's FY20 spending seen lower by Rs 2 lakh crore; sharpest cut since FY15

-The Indian Express The Centre is set to cut annual budgetary expenditure for current fiscal by nearly Rs.2.2 lakh crore or 8 per cent from the Budget Estimate. With tax revenue growth lagging the required rate by a wide margin, the Centre is all set to cut the annual budgetary expenditure for the current financial year by nearly Rs 2.2 lakh crore or 8 per cent from the Budget Estimate (BE). The...

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Finance panel suggests new structure to rationalise GST slabs -Rajeev Jayaswal

-Hindustan Times The suggestion is to come up with a standard rate of 17%, a lower merit rate for items of common consumption and a higher rate on luxury and sin goods, according to these officials who spoke on the condition of anonymity. The Fifteenth Finance Commission (FFC) has suggested the Goods and Services Tax (GST) Council to simplify tax rates by creating just three slabs, two officials with direct knowledge of...

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GST pits angry states against Centre -Paran Balakrishnan

-The Telegraph Lower compensation beyond 2022 could be one way out A showdown is looming in Delhi over the GST, the country’s biggest tax revamp since independence that was implemented three years ago. Kerala finance minister Thomas Isaac has already fired the opening shots. He will be in the capital next Wednesday for a GST Council meeting and he’s declared that he will be heading to the Supreme Court if he doesn’t...

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