-TheWire.in We are in a moment when the global economy shows no signs of revival; Russia and Japan are faced with recession, and emerging economies like Brazil and South Africa are in dire straits. There is no silver lining visible as far as domestic industrial growth is concerned. At such a time, all eyes are on Union finance minister Arun Jaitley to see how he plans to sustain economic growth that...
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Data gaps hamper my work on India: Thomas Piketty -Jyotsna Singh
-Livemint.com The economist believes inequality in India is comparable with Brazil, South Africa but lack of transparency over direct tax statistics in India hinders his study here New Delhi: Economist Thomas Piketty believes inequality in India is comparable with that in Brazil and South Africa. Like the two other emerging economies, where the richest 10% of the population has a 60-65% share of total wealth, a similar scenario probably exists in...
More »Cess proceeds in a black hole
-The Hindu The National Democratic Alliance government has just introduced a cess of 0.5 per cent on all taxable services for the Swachh Bharat campaign. In February 2016, it will introduce a 2 per cent cess on airfares for all domestic flyers except those flying to remote locations, and international travellers. This cess is meant to fund losses that airlines may incur in connecting to hinterland locations. The Central government loves...
More »Rs. 1.4 lakh crore cess money lies idle -TCA Sharad Raghavan
-The Hindu The funds collected can be used only for the designated purpose and cannot be diverted More than Rs. 1.4 lakh crore of funds collected by the government under various cesses for purposes as varied as higher education, road development and the welfare of construction workers are lying unutilised, shows an analysis by The Hindu of a Comptroller and Auditor-General report on government finances and answers by Ministers in the Lok...
More »Need to Redefine Concept, Strategy of Development -MA Oommen
-The New Indian Express The recent socio-economic and caste census (SECC) 2011 data on deprivations is profoundly disquieting. At the global level too, the latest data on economic inequality is equally disconcerting. That 75 per cent of rural households in India earn less than Rs 5,000 per month or around Rs 33 per capita per day and that over 40 per cent are landless and work as manual casual labourers even...
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