-The Hindu Announcing new income tax proposals in the Union Budget 2020, Finance Minister Nirmala Sitharaman said that the new tax rates will be optional. In a proposal to simplify the personal income tax regime, Finance Minister Nirmala Sitharaman, in the Union Budget 2020 speech, said that income tax rates will be “significantly reduced” for those who forgo reliefs and exemptions. The new tax rates will be optional, she said. Please click here...
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Explained: How the government plans to reboot the economy with this budget -Udit Misra
-The Indian Express Boosting consumption by leaving people with higher disposable incomes is the key strategy The fine print of the Union Budget for 2020-21 notwithstanding, the central strategy of the government seems to be to boost the disposable incomes of the Indian consumers. * What was the problem slowing down the economy? Typically, there are four engines of GDP (gross domestic product) growth. These are as follows: Consumption of the private individuals (or...
More »Civil society demands for increase in budgetary allocation under MGNREGA to clear pending wages
-Press release by NREGA Sangharsh Morcha dated 31st January, 2020 Rural distress has risen to alarming levels. As per the Periodic Labour Force Survey (PLFS) of 2017-18, rural unemployment stands at 8 percent (statement 30 in Section 3.7, PLFS). In conjunction with skyrocketing food inflation levels, this is a serious concern. The situation is much worse for the landless depending on casual manual labour who constitute more than half the rural...
More »Economic Survey 2020 projects GDP growth at 6 - 6.5% in FY21
-The Indian Express The Economic Survey 2020, prepared by Chief Economic Advisor Dr Krishnamurthy Subramanian, was tabled by Union Finance Minister Nirmala Sitharaman in Parliament Friday. The Economic Survey 2020 projected an economic growth of 6 to 6.5 per cent in the fiscal year starting April 1. The survey, prepared by Chief Economic Advisor Dr Krishnamurthy Subramanian, was tabled by Union Finance Minister Nirmala Sitharaman in Parliament Friday. The survey put current fiscal...
More »Budget 2020: With eyes wide shut, Modi govt gropes for solutions -Subodh Varma
-Newsclick.in Tax collections have plummeted and Modi Govt is scrambling to cut spending by Ministries, further deepening the crisis. For the first time in two decades, corporate and income tax collections are expected to fall in 2019-20. This is an indication of the gigantic mess created by the Narendra Modi government with its dogmatic commitment to reduce taxes on corporates and squeeze its own expenditure to supposedly boost the flagging economy. As...
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