-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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Non-NDA states flay change 15th Finance panel's terms of reference -Ronak Chhabra
-Newsclick.in The Modi Government’s sudden modification of the terms of reference via a presidential order on July 29 is an attempt to squeeze the revenue share of states, say Opposition leaders. New Delhi: The Narendra Modi government’s decision to change the terms of reference of the 15th Finance Commission through a Presidential Order is aimed at further squeezing the revenue share of states, without even consulting them, various finance ministers of non-BJP...
More »Prabhat Patnaik, an economist and former economics professor at the Jawaharlal Nehru University, interviewed by Kaushal Shroff (The Caravan)
-CaravanMagazine.in In the budget unveiled in July, the finance minister Nirmala Sitharaman ambitiously claimed that India’s economy would hit $5 trillion by 2025. In the weeks that followed, the Central Statistics Office revealed that the gross domestic product growth rate for the April–June quarter fell to a six-year low of five percent; the Reserve Bank of India cleared a surplus transfer of Rs 1.76 lakh crore to the union government; and...
More »Buying homes to get cheaper for govt employees as FM reduces interest on house-building advance
-News18.com House-building advance is available to central and state government employees for constructing a new house on a plot owned by the employee or jointly with the spouse. The scheme can also be availed while buying a new house or flat. New Delhi: In a bid to boost the housing sector, Finance Minister Nirmala Sitharaman on Saturday announced reduction in interest rates on house-building advance and linking to 10-year government securities yields. The...
More »Economic crisis: Why it suits neoliberals to point fingers solely on demonetisation 'shock' -Prabhat Patnaik
-Newsclick.in The roots of the present economic slowdown squarely lie within the neoliberal trajectory, which has led to a crisis of overproduction. Demonetisation and ‘hasty’ GST only aggravated it. With former prime minister Manmohan Singh resurfacing on the political landscape and articulating once more the orthodox neoliberal position, one can now clearly discern three distinct perspectives on the current economic slowdown. The first is the orthodox neoliberal position that Singh has now articulated....
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