-Livemint.com The simplification process may result in some readjustment of GST rates, including a possible reduction in tax of some items that are in the highest tax slab of 28% New Delhi: Policymakers are considering steps to ease the compliance burden related to the goods and services tax (GST) on small businesses and to make product classification for taxation less complicated, said revenue secretary Hasmukh Adhia. The simplification process may result in some...
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Aadhaar centres: Banks question UIDAI's authority to issue directions -Gopika Gopakumar
-Livemint.com Only RBI has the power to issue directives to banks, says Indian Banks’ Association Mumbai: The Indian Banks’ Association (IBA) has questioned the jurisdiction of the Unique Identification Authority of India (UIDAI) in issuing directions to banks under the Aadhaar Act, according to two people aware of the matter. IBA has written to the ministry of electronics and information technology, the Reserve Bank of India (RBI) and the Finance ministry’s department of...
More »Fund crunch: 88% of NREGA budget over, 6 months left -Shalini Nair
-The Indian Express Last financial year, of the additional Rs 15,000 crore that the MoRD sought in supplementary demands, the Finance Ministry cleared only Rs 9,000 crore. Despite the Centre’s claim that this year’s MGNREGA budget is the highest ever, almost 88 per cent of the funds available for the scheme have already been exhausted, just halfway through the financial year. As of next week, only Rs 6,000 crore of the Rs...
More »Maharashtra: 2 officers shifted over Patanjali info -Priyanka Kakodkar
-The Times of India MUMBAI: Two information officers who helped make public RTI documents on land allotment to Baba Ramdev's Patanjali Ayurveda in March this year, were transferred less than a fortnight later, raising questions on whether the officials were penalised for their actions. On March 8, TOI had reported on the shunting of IAS officer Bijay Kumar from the Finance department shortly after he questioned the basis of a 75% discount...
More »Avoid the adventurous path -M Govinda Rao and C Rangarajan
-The Hindu Any aggressive attempt to widen the fiscal deficit will land India’s economy in problems The sharp deceleration in the growth of the economy as revealed by the first quarter estimate of GDP released a month ago has been widely commented upon. The policy prescriptions needed to reverse the trend depend on our understanding of the factors responsible for the slowdown. Among other things, one factor that stands out is the...
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