-The Hindu The 15th Finance Commission has to take a call on the degree of equalisation that’s feasible In the context of the Terms of Reference (ToR) of the 15th Finance Commission (FFC), certain key aspects relate to (a) the mandate for using the 2011 population; (b) ‘whether revenue deficit grants’ be given at all; (c) the impact of the goods and services tax (GST) on the finances of the Centre and...
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Karnataka joins Rs 100cr seizure club
-The Telegraph New Delhi: The cumulative value of cash, liquor and other bribes to voters seized by the Election Commission during the Karnataka Assembly polls is Rs 150 crore. The seizure had been Rs 193.29 crore in Uttar Pradesh in 2017 and Rs 130.99 in Tamil Nadu in 2016. Director-general (expenditure) Dilip Sharma said 136 expenditure observers, 1,557 flying squads and 2,181 static surveillance teams with GPS-enabled vehicles had been deployed in Karnataka. The...
More »Why is the South wary of 15th Finance Commission? -Tina Edwin
-The Hindu Business Line Because they are wealthier and have a lower population than northern States New Delhi: The southern States are less dependent on transfers from the Centre than many of their northern peers, but a cut in transfers could leave their fiscal situation precariously poised and upset some of their expenditure plans. That is exactly what they fear will happen when the 15th Finance Commission uses the 2011 population data —...
More »In 5 years, 46% hike in base: Tax net widens as individuals fuel the surge -Aanchal Magazine & Anil Sasi
-The Indian Express While the total taxpayer base grew at an average rate of about 7.9 per cent a year, individual taxpayers recorded an average annual growth rate of 8.2 per cent in these five years, inching up from 94 per cent in AY 2011-12 to 94.9 per cent in AY 2016-17, according to official data. New Delhi: Even as the country’s total taxpayer base increased to 6.41 crore in assessment year...
More »Taxmen begin raids on hoarders of cash as Centre, RBI pump in notes -Sidhartha
-The Times of India NEW DELHI: Tax authorities have conducted 30-35 raids in Karnataka and parts of Andhra Pradesh as part of a drive to smoke out cash hoarders, even as the government and RBI moved to pump in funds into some of the states facing a currency crunch. In Bihar, for instance, Rs 800-900 crore has been pumped in through the ATM network with initial assessments suggesting that the shortage may...
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