-The Hindu The CSO has been consistent with its methods, allowing little room for suspicion of window dressing. Did demonetisation deal a knock-out punch to the Indian economy? Or was it just a mild tap from which it is already recovering? This debate should have been settled with the latest second advance estimates from the Central Statistics Office (CSO) which peg FY17 GDP growth at 7.1%. But commentators who believe that the economy...
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Jaitley's Tax Argument Isn't a Good Indicator of India's Economic Health -Suyash Rai
-TheWire.in Using tax collection numbers as signifiers of robust economic activity may be highly optimistic. One of the most interesting questions in Indian macroeconomics today is – how are we faring since late 2016? In this article, I seek to analyse data on tax revenues and obtain some clues about the performance of the economy. In a press release published on January 9, the central government reported the following increases in tax collections...
More »Indirect tax collections up 26% in 1st half
-PTI Collections of indirect taxes during the first half of the current financial year grew by 25.9 per cent to Rs 4.08 lakh crore, mainly on account of a 46 per cent jump in excise duty collections. The net indirect-tax collection in the April-September period is 52.5 per cent of the Budget 2016-17 estimates. The finance ministry said net collections of central excise jumped 46.3 per cent to Rs 1.83 lakh crore during...
More »Goods and Services Tax (GST), explained
-The Indian Express The Goods and Services Tax (GST), the biggest reform in India’s indirect tax structure since the economy began to be opened up 25 years ago, at last looks set to become reality. The Constitution (122nd) Amendment Bill comes up in Rajya Sabha today, on the back of a broad political consensus and boosted by the ‘good wishes’ of the Congress, which holds the crucial cards on its passage....
More »How to get the weave right -Seema Bathla & Prateek Kukreja
-The Hindu The government must target labour market rigidities to maximise gainful employment in the textile sector. India’s textile and apparel industry is all set for an overhaul as the new National Textile Policy will soon be placed before the Cabinet for approval. The government has already accepted a Rs.60 billion special package for this sector with an aim to create 10 million new jobs in the next three years, attract investments...
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