-The Times of India NEW DELHI: Inequality in India may be at its highest level since 1922, when the country's income tax law was conceived, with 22% income accruing to the top 1% income earners, a new paper released by economists Thomas Piketty and Lucas Chancel showed. "The top 1% of earners captured less than 21% of total income in the late 1930s, before dropping to 6% in early 1980s and rising...
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If Anything, Demonetisation Slowed the Rate of Increase in Income Tax Base -James Wilson
-TheWire.in Year-to-year Growth in the number of tax payers in 2016-17 was 26% (with demonetisation), which is less than 27.6% during 2015-16 (without demonetisation). I am finally able to resolve the jigsaw puzzle of the number of tax payers added during FY 2016-17. In my last article in response to the clarifications issued by the Ministry of Finance on August 18, I pointed out the inconsistencies in their response. For instance, “Instead...
More »Economy outlook still cloudy -Ajit Ranade
-The Hindu An immediate stimulus is needed to regain the momentum to get India back to 8% Growth The government’s move this past week to publish economic data for the April to June quarter of this year needs a look. The real Growth of GDP, i.e. after removing the impact of inflation, was only 5.7%, much lower than expected. For the past six consecutive quarters, the Growth rate has gone down steadily,...
More »Downturn in India's Growth 'very worrying': Kaushik Basu
-PTI Washington: Basu said from 2003 to 2011, India was growing typically over 8 per cent per annum. The year of global crisis, 2008, it dropped briefly to 6.8 per cent, but over 8 per cent Growth had become the new norm for India. The downturn in India’s Growth is “very worrying”, World Bank’s former chief economist Kaushik Basu said, underscoring that this is the “hefty price” the country had to pay...
More »India's Urban Floods Are More Acts Of Man Than God -VR Vachana
-Huffington Post blog A result of dysfunctional municipal planning and governance. The flooding woes of Indian cities have hit the headlines yet again, with Mumbai, Chandigarh, Bengaluru and Agartala being among the worst affected. As for the response to these crises—there is enough evidence to indicate that the patchwork solutions that have been employed will work like steroid shots that might mitigate the issue temporarily, but worsen it in the future. Planning in...
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