-The Indian Express A cut in personal income tax or GST slabs would have spurred the economy more in the short term but the corporate tax cut is beneficial for the economy in the long term. Finance Minister Nirmala Sitharaman’s announcement to cut corporate tax rates on Friday morning was a welcome surprise for the Indian economy that has been struggling with growth deceleration. According to reports, the government has cut the...
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Dr. Manmohan Singh, former Prime Minister of India, interviewed by Richa Mishra (The Hindu Business Line)
-The Hindu Business Line The government must simplify and rationalise GST, kickstart rural consumption, revive agriculture and tackle the lack of credit for capital creation, says former PM Former Prime Minister Manmohan Singh, an eminent economist himself, feels that the Narendra Modi-led government needs to come out of its habit of headline management and address the economic challenges which the country is facing today. “We cannot afford to deny that India is facing...
More »Why states are demanding more from the 15th Finance Commission - Nikita Kwatra and Pramit Bhattacharya
-Livemint.com Transfers to states are stagnating at a time when developmental demands on state governments are rising Five years ago, when the 14th finance commission recommended an increase in devolution of funds to state governments and a hike in the share of untied funds they received, it was heralded as a new era for fiscal federalism in the country, and one that would significantly empower state governments at a time when they...
More »Even After Abolishing It, Centre Collected Over Rs 1,300 Crore Under Krishi Kalyan Cess -Dheeraj Mishra
-TheWire.in An RTI response has shown that the government continued to collect money under the cess even after July 1, 2017. New Delhi: The Narendra Modi-led Central government has collected tax worth more than Rs 1,300 crore under the Krishi Kalyan Cess (KKC) despite having abolished it, information received through the Right to Information has revealed. The Ministry of Finance had gradually disposed of several Cesses with the Goods and Services Tax (GST)...
More »Arvind Subramanian, outgoing Chief Economic Adviser to the Ministry of Finance, interviewed by TCA Sharad Raghavan (The Hindu)
-The Hindu The outgoing CEA also batted for the lateral entry of talent into the government The compensation payable to the States for revenue loss arising due to GST is just ?5,000 crore, far lower than was estimated, according to Chief Economic Adviser Arvind Subramanian. In a candid interview to The Hindu, the outgoing CEA also batted for the lateral entry of talent into the government, saying that it was a “no brainer”...
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