-The Indian Express The meeting with Sitharaman comes days after the GST Council informed states that the GST and compensation cess collections in the last few months had become a “matter of concern”. Seven Opposition-ruled states and Union Territories — Punjab, Delhi, Puducherry, Kerala, Madhya Pradesh, Rajasthan and Chhattisgarh — made a forceful representation to Union Finance Minister nirmala sitharaman Wednesday demanding pending compensation under the Goods and Services Tax (GST) regime,...
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eNam should not be forced on farmers, says Sanjay Kaul -Suresh P Iyengar
-The Hindu Business Line Mumbai: Finance Minister nirmala sitharaman’s advice to State governments to dismantle the Agricultural Produce Market Committees and move on to eNAM (electronic National Agriculture Market) has raised many eyebrows as the three-year-old nascent online platform is still facing teething troubles. Addressing the sixth World Congress on Rural and Agricultural Finance earlier this week, Sitharaman said, “I want to place emphasis on eNAM. We are trying to get the...
More »Explained: Why the govt wants to change the definition of MSMEs -Udit Misra
-The Indian Express A change in definition is expected to improve their ease of doing business and help create more jobs. It has been reported that the government will soon change the way it defines the micro, small and medium enterprises (MSMEs). “We will have one meeting and then finalise it (changes to MSME definition),” Union Minister Nitin Gadkari told news agency PTI, adding that extensive changes will be made soon....
More »Subdued GST collections, lower tax devolution will impact state finances, pose macro risks -Jayanta Roy and Aditi Nayar
-The Indian Express To avoid a substantial fiscal slippage at the state government level, a sizeable expenditure reduction or deferral is likely to be required, given that the borrowing limit set by the central government acts as a soft constraint to the size of the states’ fiscal deficits. There are growing concerns that the two major sources of tax revenues for state governments, the state goods and services tax (SGST) and...
More »The corporate tax cut could undermine the promise to cap the fiscal deficit
-The Telegraph A low tax regime is not enough; investors need to see demonstrable action to ease the pangs of doing business in India A wave of euphoria has swept through industry and stock markets since the finance minister, nirmala sitharaman, announced a sharp cut in corporate tax to an effective rate of 25.17 per cent. The effective tax rate will now go down sharply from a high of 34.94 per cent,...
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