-Scroll.in Non-profit organisations will now have to renew their registrations under the Income Tax Act every five years. On February 1, when Finance Minister Nirmala Sitharaman introduced the Budget in Parliament, she presented a number of amendments under the Finance Bill 2020. Some of these alter the validity of registrations granted to Indian non-governmental organisations. The Bill, which will come into effect on June 1, amends certain sections under the Income Tax...
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Economic Survey: Focus on wealth of big business than wealth and health of nation -Surajit Das
-Newsclick.in The Economic Survey 2019-20 indicates that the government’s broad policy direction will remain the same -- of neglecting the social sector and serving the interests of the big businesses. This year’s Economic Survey begins with emphasising the importance of wealth of nations (inspired by Adam Smith) and depicts long-term contributions of the US, China, India and various other countries in world GDP (gross domestic product). The shares of China and India...
More »Reducing custodial deaths -MP Nathanael
-The Hindu The Indian police continue to torture suspects in custody as they are rarely punished On October 13, 2019, Pradeep Tomar, a security guard, rushed with his 10-year-old son to Pilkhua police station in Hapur district in Uttar Pradesh. He had been summoned for interrogation in connection with a murder case. The son later said that his father was brutally tortured by the policemen in front of him for hours. When...
More »Fashioning the framework of a New India -Indira Hirway
-The Hindu A major solution to the present economic crisis is to go in for inclusive growth; it also means shared prosperity The Indian economy is going through a severe crisis: a slowdown as well as a structural crisis. In the words of the former Chief Economic Adviser, Arvind Subramanian, it is headed towards the ICU. Almost all sectors of the economy are in decline: the rate of growth of the national...
More »Continuity and fiscal follow-through -M Govinda Rao
-The Hindu The 15th Finance Commission, by and large, has gone with the approach and methodology of earlier Commissions The appointment of the Fifteenth Finance Commission by the President of India under Article 280 of the Constitution was notified on November 27, 2017. It was required to submit the report by October 30, 2019 for five years for the period 2020-21 to 2024-25. However, due to various political and fiscal developments, notifications...
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