-The Hindu Council leaves the 5% tax levied on vaccines unchanged. The Goods and Services Tax (GST) Council on Saturday decided to waive the tax levied on two critical drugs against COVID-19 and mucormycosis — tocilizumab and amphotericin B — and reset the tax rate to 5% for 14 major pandemic relief items, till September 30. Non-BJP-ruled States registered a strong dissent, terming the continued imposition of GST on critical COVID supplies and...
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Indian family budgets are stretched, they’re borrowing more. Faster vaccination can fix this -Ila Patnaik and Radhika Pandey
-ThePrint.in RBI data shows a sharp increase in households borrowing against gold. Other indicators also show higher borrowing. More credit is fine, but vaccination needs priority. The second wave of the Covid-19 pandemic and the ensuing lockdown has hit household incomes sharply. Households have survived to a large extent by borrowing. The Reserve Bank of India (RBI) data shows a sharp increase in households borrowing against gold. In addition to borrowing from the...
More »G7 Corporate Tax Deal -- Setting the Bar Too Low? -Shinzani Jain
-Newsclick.in Finance ministers from G7 countries have agreed on a deal to check tax avoidance by the biggest multinational conglomerations. How the G20 reacts to this accord and how these plans are implemented, remains to be seen. A recent report by ProPublica has revealed how multibillionaires from the US, including Amazon’s Jeff Bezos, Tesla’s Elon Musk, Microsoft’s Bill Gates and Facebook’s Mark Zuckerberg, among others, have managed to avoid paying federal taxes...
More »Finance Ministry advised caste-wise split in MGNREGA wage payments -Priscilla Jebaraj
-The Hindu It is to assess Budget benefits for SC/STs, Rural Development Secretary says. The decision to split MGNREGA (Mahatma Gandhi National Rural Employment Guarantee Act) wage payments by caste categories was done on the advice of the Finance Ministry in order to assess and highlight the benefits flowing from budgetary outlay towards Scheduled Castes and Scheduled Tribes, Rural Development Secretary N.N. Sinha told The Hindu on Thursday. He said this should...
More »How Second Wave Is Decimating Rural Economy -Rohit Inani
-IndiaSpend.com The government has said that the economic impact from the second Covid-19 wave will be less than that of the first. But economists point to signs of a growing rural economic crisis, and call for urgent relief measures to ward off long-term damage. Siolim, Goa: Ramesh Ram, 31, is listed as a textile industry staff worker in the administration's database of migrant workers in south west Bihar's Kaimur district. But for...
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