-The Indian Express A 2 per cent TDS on cash withdrawals beyond Rs 1 crore may hit the farm trade hard. One of the 2019-20 Union Budget’s less-discussed proposals, having significant implications for agricultural trade, is the levy of a 2% TDS (tax deducted at source) on cash withdrawals exceeding Rs 1 crore in a year from any bank account. The levy — aimed at promoting “digital payments” and a “less cash...
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Bihar flood toll rises to 67; over 48 lakh affected
-The Indian Express The highest number of casualties were reported from SITamarhi with 17 deaths, followed by Araria (12), Madhubani (11), Sheohar (9), Purnea (7) Darbhanga (5), Kishanganj (4) and Supaul (2). Patna: The toll in the Bihar floods rose to 67 on Wednesday with over 48 lakh people being affected in 12 districts across the state. The highest number of casualties were reported from SITamarhi with 17 deaths, followed by Araria...
More »The price of a good cuppa -Soumitra Ghosh
-The Hindu The lives of tea-estate workers in West Bengal have worsened in many aspects over the years The tea plantation sector continues to play a significant role in the economy of north Bengal. There are 276 organised tea estates spread over the three tea-growing regions of West Bengal: Darjeeling Hills, Terai and Dooars. Besides the formally registered large tea plantations, there are thousands of small growers. According to one estimate, the...
More »Creating a fair digital payments market -Padmashree Gehl Sampath
-The Hindu Local firms will be at a disadvantage if big tech companies are given plum roles Since early last year, WhatsApp has busily piloted its payment system in India. WhatsApp Pay relies on the Indian government’s Unified Payments Interface (UPI) system to facilitate inter-bank transactions. Regulatory approval that would allow its nation-wide introduction is stuck on one point: the Indian government has asked WhatsApp to localise all data processing related to...
More »A hand-to-mouth Budget -Puja Mehra
-The Hindu It is inescapable from the arithmetic that revenue expenditures and tax revenues are in need of serious corrections Finance Minister Nirmala SITharaman began a new practice in the Union Budget, presented on July 5, when she relegated the numbers, or the budgeting, to the fine print, in a break with tradition; they are usually presented as a part of the speech on the floor of the House in Parliament. What are...
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