Among the measures announced by the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman on 23rd August, 2019 to arrest economic downturn, the following are noteworthy: * Allow Bharat Stage IV (BS-IV) vehicles (which are purchased till 31st March, 2020) to remain operational for the entire period of registration; * Government shall lift the ban on purchase of new vehicles for replacing all old vehicles by its various departments; *...
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Green shoots of economic growth -Naveen P Singh & Ranjith PC
-The Hindu Without factoring in agriculture, the vision of a $5-trillion economy will remain a distant dream India’s dream of becoming a $5-trillion economy by 2024 is now in the open with a ‘blue sky’ vision envisaged in the Economic Survey this year. The document lays down a clear strategy to augment the growth of key sectors by shifting gears as the current economic conditions are smooth in terms of macroeconomic stability...
More »India's non-agrarian rural economy struggles for sustenance -Richard Mahapatra
-Down to Earth Farmers and farm labourers, who want to quit agriculture, are stuck in the non-remunerative work since other sectors are not generating jobs at the required rate We are fairly sure by now that the upcoming Budget would be the first government instrument towards the prime minister’s ambitious plan of making India a $5 trillion economy by 2024. Currently, India is nearly a $2.8 trillion economy. It is obvious we...
More »GDP growth slumps to 5.8% -Yuthika Bhargava
-The Hindu Slowdown in the economy was led by Sluggish Growth in the agriculture, forestry and fishing sector (2.9% growth), the mining sector (1.3% growth) and manufacturing (6.9%). India’s GDP grew at 5.8% in the January-March 2019 quarter, dragging down the full year growth to a five-year low of 6.8%. The unemployment rate in the country rose to a 45-year high of 6.1% in 2017-18, as per official data released on the...
More »Direct tax collection falls short, CBDT raises alarm
-PTI The CBDT has been worried over the direct tax collection work for quite some time The Central Board of Direct Taxes (CBDT) has rung alarm bells and has asked the Income Tax Department to go for a major assault as the direct tax collection target remains short of about 15%, with the financial year closing less than a week away. On March 26, CBDT Member (Revenue) Neena Kumar shot off a letter...
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