-Livemint.com Unless the convoluted arithmetic behind fiscal deficit gets as much attention as headline fiscal deficit number, creative accounting practices will go on Mumbai: The Narendra Modi-led National Democratic Alliance (NDA) government has been lauded for its ability to rein in the headline fiscal deficit over the past few years, which has arguably helped tame inflation. However, with reverses in key assembly elections earlier this month and Lok Sabha elections to be...

-Financial Express Has demonetisation led to a big increase in the number of people filing Taxes and in tax revenue collected? Has demonetisation led to a big increase in the number of people filing Taxes and in tax revenue collected? In other words, have the tax base and tax revenue increased substantially due to demonetisation? Minister of finance Arun Jaitley, and assorted defenders of the government, do make these claims. Writing in...

-The Indian Express There has been only a marginal increase in the direct tax to GDP ratio after demonetisation. And the economy didn’t need to suffer for digitisation. The government did not celebrate the second anniversary of demonetisation, one of its biggest policy initiatives. It has celebrated the anniversary of all other big policies. Why the diffidence? The finance minister did come out with a statement listing the achievements of demonetisation. But his...

-The Hindu Mumbai among biggest laggards with 3.8% growth in collections against a target of 13.3% Mumbai: The Income Tax Department may miss the revenue collection target for this fiscal going by the numbers for the first two quarters. Out of 18 income tax regions in the country, only five — Delhi, Uttar Pradesh (E), Uttar Pradesh (W), Odisha and the North-East — have managed to achieve the revenue goals in the...

-NetworkIdeas.org India is often mistakenly seen as a country with relatively low economic inequality. In fact, there were always very significant economic inequalities in India, which intersected with social and locational inequalities in complex ways. More significantly, the country’s inequalities widened after the internal and external economic liberalization measures from the early 1990s, which attracted global financial investors and boosted economic growth considerably. The estimates of low inequality are usually based on...