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An open letter to Finance Ministers -TM Thomas Isaac

-The Hindu Political alignments should not come in the way of defending the fiscal rights of States My fellow Finance Ministers in the States, I hope you will agree that the award of the Finance Commission is vital to State finances. Some of us who met initially at Thiruvananthapuram, Kerala, and later at Amaravati, Andhra Pradesh, are worried about the implications of the terms of reference (ToR) of the Finance Commission...

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Why is the South wary of 15th Finance Commission? -Tina Edwin

-The Hindu Business Line Because they are wealthier and have a lower population than northern States New Delhi: The southern States are less dependent on transfers from the Centre than many of their northern peers, but a cut in transfers could leave their fiscal situation precariously poised and upset some of their expenditure plans. That is exactly what they fear will happen when the 15th Finance Commission uses the 2011 population data —...

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Centre close to cracking shell firm puzzle; panel decides 18 parameters -Shrimi Choudhary

-Business Standard The task force also highlighted that companies had been misused to channel unaccounted cash after demonetisation in November 2016 Mumbai: The government’s task force has arrived at a formula to define a ‘shell company’, a move critical for enforcement agencies to crack down on dubious entities exploiting the regulatory framework. According to sources, the task force has listed 18 key parameters, including beneficial ownership and the nature of business dealings, to...

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Petrol price hit highest level, diesel at record high

-PTI Petrol price today hit ?74.40 a litre — the highest level under the BJP-led government, while diesel rates touched a record high of ?65.65, renewing calls for cut in excise duty to ease burden on consumers. State-owned oil firms, which have been since June last year revising auto fuel prices daily, on Sunday raised petrol and diesel rates by 19 paisa per litre each in Delhi, according to a price notification. The...

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