-The Times of India NEW DELHI: The Central Board of Direct Taxes (CBDT) said on Thursday that the tax base and revenues had increased significantly post demonetisation and there was no surge in the people who stopped filing returns. “CBDT clarified that contrary to the report, it is a fact that demonetization had a phenomenal positive impact on the widening of tax base and direct tax collections,” the tax department said while...
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YV Reddy, former Reserve Bank of India governor and chairperson of the 14th Finance Commission, interviewed by Roshan Kishore (Hindustan Times)
-Hindustan Times The 15th Finance Commission (FC) has to submit its report in October 2019, which will be another important event in the evolution of India’s fiscal federalism framework. The tenure of the Narendra Modi government has seen important changes in India’s fiscal federalism set-up such as the abolition of the Planning Commission (PC) and the roll-out of the Goods and Services Tax (GST). The 15th Finance Commission (FC) has to submit...
More »Rahul's minimum income plan is fatally flawed -SA Aiyar
-The Times of India blog Indira Gandhi’s ‘Garibi Hatao’ swept the polls in 1971. Rahul Gandhi hopes to follow suit with NYAY (Nyuntam Aay Yojana), promising a minimum income of Rs 72,000 per year to the 50 million poorest families. Garibi Hatao flopped badly. So will NYAY unless totally rethought. Indian parties have a consensus on cash grants to the needy. Schemes in Telangana, Odisha and Jharkhand have been followed by Modi’s...
More »Direct tax collection falls short, CBDT raises alarm
-PTI The CBDT has been worried over the direct tax collection work for quite some time The Central Board of Direct Taxes (CBDT) has rung alarm bells and has asked the Income Tax Department to go for a major assault as the direct tax collection target remains short of about 15%, with the financial year closing less than a week away. On March 26, CBDT Member (Revenue) Neena Kumar shot off a letter...
More »Swaraj is the kisan's birthright and he should have it -Harish Damodaran
-The Indian Express Agrarian crisis is an opportunity, for the government that assumes office after elections, to enact a law giving farmers the right to sell any quantity of their produce to anybody, anywhere and at any time. The German obsession with sound currency has been conditioned by the collective memory of the Great Hyperinflation of 1922-23, just as American intolerance to double-digit unemployment and stock market crashes is traceable to...
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