-ThePrint.in Greater formalisation will see a shift from low-paying, labour-intensive jobs in informal sector to more productive, formal-sector jobs. This could lead to disruption in short term. A report issued by the State Bank of India (SBI) last month estimated that India’s informal economy has shrunk to 15-20 percent of the GDP in 2020-21 from 52 percent in 2017-18. The report uses employment and digitisation to assess the extent of formalization in...
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More states want GST compensation cess extended -R Suryamurthy
-The Telegraph Kerala finance minister pitched for extending it beyond June next year as the state was already grappling with a significant revenue shortfall The clamour for compensation to states beyond June 2022 grew louder on Saturday with Kerala finance minister K.N. Balagopal saying the financial situation of the state would be deeply impacted if the assistance is not extended. Balagopal pitched for extending the GST compensation beyond June next year as his...
More »Lack of GST details stumps economists -Vikas Dhoot
-The Hindu States seek transparency in GST data. GST collections have crossed ₹1 lakh crore in eleven of the last 12 months, with the government attributing the trend to a rapid economic recovery and improved compliance levels, but economists are unable to analyse these tax numbers as critical data points are no longer shared by the government. Until December 2020, when monthly GST collections were released, the official statement from the Finance Ministry...
More »With fewer migrants returning in COVID 2.0, U.P. says many stayed back after 1st wave
-The Hindu U.P. was the only State to do a skill mapping exercise of returning migrants last year, says an official Just four lakh migrant workers returned to Uttar Pradesh during the second COVID-19 wave this year, compared to 40 lakh workers after the national lockdown of 2020, indicating many of these workers may not have returned to their earlier workplaces after the first wave and got gainfully employed in U.P., top...
More »India’s workforce demands fiscal support following the second wave of Covid-19! -Vallari Sanzgiri
-SabrangIndia.in On-ground voices and detailed reports highlight the need for cash transfers to keep vulnerable groups afloat in face of a growing unemployment Many experts and reports analysing the socio-economic impact of Covid-19 have demanded fiscal support for India’s vulnerable and below poverty line (BPL) population amidst the Covid-19 crisis. On June 17, 2021, this notion was reaffirmed when Confederation of Indian Industry (CII) President T. V. Narendran said, “There is an estimated...
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