-The Hindu The GST’s faulty design has prevented the economy from benefiting fully from the indirect tax regime A year ago, at a special midnight session in Parliament, the launch of the Goods and Services Tax (GST) was heralded as the new freedom. A year on, what has the GST achieved? ? One should not expect instant results. There will be many short comings when a complex reform is rolled out. But...

-Hindustan Times Subramanian says due to less suitable global economic scene, reaching double-digit growth will need more hard work The announcement that Arvind Subramanian, India’s Chief Economic Advisor (CEA), is quitting for personal reasons to return to the United States has generated considerable attention. The CEA spoke to Prashant Jha about his time in government and the state of the economy: * As you look back, what are the key highlights and the...

-Livemint.com In the last three years, wages of agricultural labourers have increased only by 0.5% per year while those of non-agricultural workers have declined by 0.25% per year, the worst so far in 30 years The agrarian economy continues to be plagued by falling output prices, declining incomes and increased variation in agricultural production pointing to a situation of uncertainty and vulnerability among most rural residents. This has created an unprecedented demand...

-The Hindu The 15th Finance Commission has to take a call on the degree of equalisation that’s feasible In the context of the Terms of Reference (ToR) of the 15th Finance Commission (FFC), certain key aspects relate to (a) the mandate for using the 2011 population; (b) ‘whether revenue deficit grants’ be given at all; (c) the impact of the Goods and Services Tax (GST) on the finances of the Centre and...

-Business Standard India studied the Malaysian model before implementing the GST and borrowed the anti-profiteering clause to ensure GST benefits are passed on to the end-consumer by the industry New Delhi: Malaysia deciding to scrap the Goods and Services Tax (GST) on Wednesday, three years after its roll-out, may prompt India to tread with caution over the next few years to stabilise the new indirect tax regime implemented in July last year. Although...