-Moneylife.in In a historic decision, the Central Information Commission (CIC) has asked the government to reveal names of entities that have requested secrecy of donors identities in the electoral bond scheme. Coming down heavily on the central public information officers (CPIOs) of the department of economic affairs (DEA), department of financial services (DFS), department of revenue (DR), and Election Commission of India (ECI), the central information commissioner, Suresh Chandra issued show cause...
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Govt's FY20 spending seen lower by Rs 2 lakh crore; sharpest cut since FY15
-The Indian Express The Centre is set to cut annual budgetary expenditure for current fiscal by nearly Rs.2.2 lakh crore or 8 per cent from the Budget Estimate. With tax revenue growth lagging the required rate by a wide margin, the Centre is all set to cut the annual budgetary expenditure for the current financial year by nearly Rs 2.2 lakh crore or 8 per cent from the Budget Estimate (BE). The...
More »In Maharashtra, linking land records to PM Fasal Bima saves time, plugs leaks -Parthasarathi Biswas
-The Indian Express Does away with need for village revenue officer’s signature; guards against crop insurance fraud. Pune: Early in December, when Bhagwan Ingole, a farmer from Malegaon in Ardhrapur taluka of Nanded went to the Citizen Facilitation Centre in his village to insure his one acre of rabi chana (bengal gram) crop, he was in for a surprise. During the previous seasons, the operator of this one-stop shop catering to most...
More »States stare at over Rs.1 lakh crore revenue gap post withdrawal of GST compensation
-PTI At the time of implementation of the Goods and Services Tax on July 1, 2017, the Centre had promised to compensate states for loss of revenue for five years at an agreed formula States might be facing a consolidated revenue gap of up to Rs.1.23 lakh crore on account of withdrawal of compensation after the five-year GST transition period ends on June 30, 2022, says a report by economic think tank...
More »Can a cut in tax rates pull the economy out of the woods?
-The Indian Express A cut in income tax will naturally mean a loss of revenue for the government, which will impact the fiscal deficit. The quantum of the revenue loss will depend on how deep the tax cut is. Finance Minister Nirmala Sitharaman has said that the government is considering cutting tax rates to revive growth. “Tax rate cut is one among the many things we are thinking to boost growth,” Sitharaman...
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