-Newsclick.in Modi government has been mercilessly hiking up taxes on petrol and diesel to take money from the people and boost its resources. Since the prices of petroleum products were deregulated some years back and supposedly “linked” to markets, the central government has weaponised this to simply impose an indirect tax burden on the people. Take the four big metros: Delhi, Mumbai, Kolkata and Chennai. On an average, petrol prices have increased from...
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The Proposal for a Minimum Global Corporate Tax Rate -Prabhat Patnaik
-NetworkIdeas.org Following its $1.9 trillion Covid-relief package, the Biden administration has further announced an infrastructure package of $2.3 trillion. But in contrast to the former which is to be spent within months, the latter is to be spent over an eight-year period. And this package in turn is to be followed by a “human infrastructure” package. All this adds up to a massive stimulus for the economy as well as a...
More »Top Central government officials attend session on boosting image, perception -Sunetra Choudhury
-Hindustan Times HT learns that the meeting, attended by several secretaries of the government, saw the minister emphasising the need to focus on positive news. Around 300 top officials of the central government participated in a workshop titled Effective Communications, conducted by Abhishek Singh, the CEO of MyGov, a government platform for citizen engagement, aimed at helping them “create a positive image of the government”, manage “perception through effectively highlighting positive stories...
More »Tax exemptions and incentives for the corporate sector continue despite reduction in corporate tax rates
Quite often it is argued by mainstream economists that a sizeable chunk of the Union Budget every year is wasted because the Government spends that on food and fertiliser subsidies. The burgeoning size of these two subsidies relative to the entire budget as well as the gross domestic product (GDP) is often used to build the argument that economic as well as environmental sustainability of the country is at stake...
More »Petrol, diesel price hike: RBI governor calls for reduced indirect taxes on fuel -Anulekha Ray
-Livemint.com * Central and state taxes make up for 60% of the retail selling price of petrol and over 54% of diesel * On 20 February, petrol price was hiked by record 39 paise per litre and diesel by 37 paise a litre Reserve Bank of India governor Shaktikanta Das called for reduced indirect taxes on petrol and diesel to contain the fuel prices at a reasonable level. Petrol and diesel prices in...
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