-Newsclick.in Allowing 100% FDI in coal mining is raising apprehensions that foreign companies will now ‘plunder’ mineral resources for commercial purposes for sale in the open market. The Narendra Modi government’s decision to allow 100% Foreign Direct Investment (FDI) in coal mining has been opposed by the Left on the ground it would enable multinational mining companies to “plunder” the country’s mineral resources. Those supporting the move, however, argue that foreign investment in...
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New offshore records reveal several Indian firms tapped Mauritius route to save on taxes -Ritu Sarin, P Vaidyanathan Iyer, Jay Mazoomdaar and Sandeep Singh
-The Indian Express The Double Taxation Avoidance Agreement (DTAA) was signed between India and Mauritius in 1982. Under this, any entity could apply for tax residency and pay zero capital gains tax. This became the principal reason why Mauritius emerged as a top channel for investments being routed into India. After Swiss Leaks, Panama Papers and Paradise Papers, come documents from Mauritius — over 200,000 emails, contracts and bank statements that...
More »A Budget that goes nowhere -C Rammanohar Reddy
-The Hindu It would seem that since the government is unable to catalyse domestic investment or fund public investment, it is now turning abroad to fuel growth Union Finance Minister Nirmala Sitharaman is mistaken if she thinks her first Budget is going to revive a slowing economy. The economy grew by just 5.8% in real terms in the last quarter of 2018-19. Yet, the Union Budget for 2019-20 assumes that the economy will...
More »Why an industrial policy is crucial -Santosh Mehrotra
-The Hindu No major country has managed to reduce poverty or sustain economic growth without a robust manufacturing sector The contribution of manufacturing to GDP in 2017 was only about 16%, a stagnation since the economic reforms began in 1991. The contrast with the major Asian economies is significant. For example, Malaysia roughly tripled its share of manufacturing in GDP to 24%, while Thailand’s share increased from 13% to 33% (1960-2014). In...
More »'Make in India' has not eased manufacturing woes -Sneha Alexander
-Livemint.com * Despite its ambitious targets, NDA’s ‘Make in India’ has failed to improve investment, employment, and exports in India’s manufacturing sector * One area where this government has fared relatively better has been in attracting Foreign Direct Investment (FDI) to the country MUMBAI: When the Bharatiya Janata Party (BJP) swept into power in 2014, one of its first acts was to launch the ‘Make in India’ initiative with the ambitious vow of...
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