-The Hindu Without good data, accurate projections are impossible, making it difficult to gauge the true state of the pandemic India, now home to the world’s worst ongoing coronavirus pandemic, is currently reporting nearly a million new cases and 10,000 deaths every three days, according to data released by the Ministry of Health and Family Welfare. The true extent of the second wave now ravaging India is likely much worse than official...
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Forest fires have become more frequent this year as compared to the past
Forest fires are not just confined to countries like the United States of America (California, 2020), Brazil (Amazon forest, 2019-2020) or Australia (2019-20); they happen every year across many states in India too. Media reports suggest that forest fires have taken place in the recent months in Odisha's Simlipal National Park, Uttarakhand and Himachal Pradesh, among other states. Forest fires have also been reported this year in Nagaland-Manipur border (Dzukou...
More »During COVID-19 pandemic, India’s debt to GDP ratio increased from 74% to 90%, says IMF
-PTI/ The Hindu In 2020, fiscal policy also contributed to mitigate falling economic activity and employment. India’s debt to GDP ratio increased from 74% to 90% during the COVID-19 pandemic, the International Monetary Fund has said, noting that it expects this to drop down to 80% as a result of the country’s economic recovery. Paolo Mauro, Deputy Director, IMF’s Fiscal Affairs Department told reporters at a news conference here on Wednesday, “In the...
More »GST mop-up hits a record in March -Vikas Dhoot
-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...
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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