-Down to Earth Corporate India gets indirect subsidy equivalent to 60 per cent of government expenditure on rural areas A recent analysis has revealed a shocking injustice being done consistently to rural India by the government with corporates getting subsidies at its expense. The Inclusive Media for Change, a New Delhi-based non-profit has analysed the last seven Union Budgets. It has found that indirect subsidy, termed as “tax expenditure” that was given...
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India Economic Survey 2018: Arvind Subramanian says economic revival underway; 4 key takeaways -Sushruth Sunder
-The Financial Express India Economic Survey 2018: Chief Economic Advisor Arvind Subramanian says that the Indian economy is showing robust signs of recovery and a series of major reforms undertaken over the past year will allow real GDP growth to reach 6.75 percent this fiscal and will rise to 7.0 to 7.5 percent in 2018-19. Addressing media in the press conference post release of the economic survey, CEA Arvind Subramanian noted...
More »If Anything, Demonetisation Slowed the Rate of Increase in Income Tax Base -James Wilson
-TheWire.in Year-to-year growth in the number of tax payers in 2016-17 was 26% (with demonetisation), which is less than 27.6% during 2015-16 (without demonetisation). I am finally able to resolve the jigsaw puzzle of the number of tax payers added during FY 2016-17. In my last article in response to the clarifications issued by the Ministry of Finance on August 18, I pointed out the inconsistencies in their response. For instance, “Instead...
More »Demonetisation: The chronicle of a failure foretold -C Rammanohar Reddy
-Scroll.in Because the exercise was doomed to fail in its primary objective of rooting out black money, the government kept changing its aims. We have travelled a long way from November 8, 2016, when Prime Minister Narendra Modi told us that the black money held in Rs 500 and Rs 1,000 currency notes would become “worthless pieces of paper”. Now, we are told by the finance ministry that the government expected...
More »Why govt-subsidised Amma, Indira canteens are lifesavers -Reetika Khera
-Hindustan Times After Tamil Nadu’s pioneering Amma canteens, many states have started community kitchens, such as Karnataka’s Indira Canteens. This is a welcome development. The first coverage of the recently inaugurated “Indira canteens” in Karnataka that I noticed were two reports on television channels. Both were poking fun (justifiably) at Rahul Gandhi’s goofy speech at the launch. Sadly though, neither commented on the rationale or importance of the Karnataka government’s initiative. This...
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