-The Indian Express Far from reducing opacity in how politics is Financed, this new vehicle merely legitimizes it. It is an open secret that political Finance in India is, to put it mildly, a sordid affair. When it comes to political contributions, opacity reigns. The situation is not much better when it comes to expenditure, as candidates regularly declare laughably small amounts of campaign spending in order to give the appearance...
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Can Budget 2018 Set a Road Map For a Truly 'Good and Simple Tax'? -Rajul Awasthi
-TheWire.in While the nitty-gritties of GST work are handled by the council, slippage in revenues are a result of poor design, which is why a road map for reforming the GST is needed. I don’t envy Finance minister Arun Jaitley. The fiscal situation is looking rather grim, with the fiscal deficit target amount for the entire year having already been exceeded by 12 percentage points, with a full quarter of the fiscal...
More »Are electoral bonds an elaborate ruse to protect anonymous donations? -Suchindran B N & Param Pandya
-The Economic Times blog Electoral bonds represent the latest attempt at removing black money from the electoral system. It is a financial instrument, much like a demand draft or currency note, which will conceal the identity of the donor from the intended recipient political party from everyone except the issuing bank. These bonds can be purchased for any value, in multiples of Rs 1,000, Rs 10,000, Rs 1,00,000, Rs 10,00,000 and Rs...
More »Distress sign in job spend -Basant Kumar Mohanty
-The Telegraph New Delhi: The Centre has decided to pump an additional Rs 7,000 crore into the rural job scheme, which is being read by critics as an undeclared sign that economic distress is forcing more people to fall back on unskilled jobs in villages. The Union Finance ministry has granted Rs 3,500 crore from the Consolidated Fund of India and asked the rural development ministry to divert another Rs 3,500 crore...
More »The fine print: Groups of individuals, NGOs can buy electoral bonds without public disclosure -Nitin Sethi
-Scroll.in The scheme could help entities route black money to political parties through shell companies, experts fear. It isn’t only companies that have been allowed to make anonymous donations to political parties through electoral bonds. The fine print of the scheme announced by the Finance Ministry on Thursday also allows individuals, groups of individuals, NGOs, religious and other trusts, Hindu Undivided Family units and all other entities recognised by law to...
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