-The Hindu Business Line Suggests CBDT to create a foolproof IT system, internal control mechanism The Comptroller and Auditor General of India (CAG) has pointed out significant errors in the assessment of over 350 cases related to corporate tax. It also advised the Central Board of Direct Taxes (CBDT) to put in place a foolproof IT system and internal control mechanism to avoid such recurrences. In a report tabled in Parliament, the apex...
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As Uttar Pradesh Heads to Polls, How Does the Yogi Govt's Economic Performance Hold Up? -Santosh Mehrotra
-TheWire.in Employment trends are dismal under the 'double engine government' of Modi and Adityanath. Several claims made in ads do not appear to hold up. Uttar Pradesh’s per capita income was barely half (Rs 41,023) of India’s average (Rs 86,659) in 2019-20. The per capita income of UP (at 2011-12 prices) is ranked 32 out of 36 states and Union Territories. That the state’s economy has been one of the poorly performing...
More »US Inflation and India’s Economic Recovery -Prabhat Patnaik
-NetworkIdeas.org The very day, December 11, when the Indian finance ministry spuriously claimed a robust recovery in the post-pandemic Indian economy, newspapers carried news of an acceleration in the US inflation rate. The inflation rate in November 2021 over November of the preceding year had been 6.8 per cent in the US, which was higher than the corresponding rate in any month over the previous 40 years; in particular, petrol prices...
More »Leverage WTO to reform the MSP regime -Ashima Goyal
-The Hindu Business Line It’s in India’s own interest to phase out free supply electricity and water and focus on productivity boosting infrastructure The macroeconomic impact of MSP has been neglected in the current debate. It worked, over the years, as a push keeping Indian inflation high. The short-term rise in farmer incomes it delivered was soon eroded, leading to another rise and so on. In recent years it has led India to...
More »MSMEs hit by Raw Materials’ Price Rise, Entrepreneurs Down Shutters in Protest -Neelambaran A
-Newsclick.in After facing severe setbacks due to demonetisation, hasty implementation of GST, and the ill-conceived COVID-19 lockdown, the MSMEs are gasping due to a steep rise in raw material prices. In a first, the entrepreneurs of the micro medium and small enterprises (MSME) went on a one-day strike across the country on Monday. Affected severely by the policies of the Union government, the ill-planned lockdown in March 2020, and now by the...
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