-The Hindu 81% items to be taxed at below 18% The Goods and Services (GST) Council on Thursday agreed on the fitment of almost all commodities in the various tax slabs under the new indirect regime to be rolled out on July 1. Milk, cereals (unpackaged and unbranded), and jaggery will be exempt from any GST, while sugar, tea, coffee (except instant), and edible oil will be taxed at 5%. Common use items...
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New WPI series suggests higher core inflation rate in past 6 months: CRISIL
-Business Standard WPI inflation for April is at 3.9%, which is 144 (bps) lower than the March inflation rate The Ministry of Commerce and Industry unveiled the revised wholesale price index (WPI) on May 12, 2017 as per the 2011-12 base year. As per this release, WPI inflation for April is at 3.9%, which is 144 basis points (bps) lower than the March inflation rate. The decline is mainly due to a...
More »Demonetisation did not impede future black money flows: UN report
-IANS As per the report, the disruption caused by demonetisation had ‘greater and longer-lasting’ impacts for lower-income individuals, households and businesses. The Indian government’s demonetisation measures did not impede future black money flows in new denominations, a UN report said on Monday. According to UN Economic and Social Survey of Asia and the Pacific 2017, complementary measures to demonetisation would be required to target all forms of undeclared wealth and assets. “Broader structural reforms...
More »UNESCAP: Note ban effect 'transient'; India to grow 7.1% in 2017 -Surabhi Prasad
-The Hindu Business Line Sees enhanced infra spending, higher consumption New Delhi: While noting that demonetisation of high value currency by the government last year will help bring in more taxpayers into the tax net, the United Nations ESCAP in a new report has said that more measures will be required to fight black money in the future. “The measure did not, by itself, impede future black money flows in new denominations. …...
More »Government planning 'one nation, one market' in agriculture sector -Sayantan Bera
-Livemint.com The government’s model law for agricultural reforms aims to allow farmers a wider choice of markets beyond the local mandi New Delhi: The National Democratic Alliance (NDA) government is working on creating a common agricultural market that will improve the lot of farmers and the efficiencies of India’s notoriously inefficient farm-produce markets. The government put out a model law proposing a fundamental reset in the way agricultural markets operate on 24 April....
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