-The Indian Express This is the second time during this year that the revenue collection from the GST slipped below the Rs 1 lakh crore mark. First, it happened in June when the collection was Rs 99,939 crore. New Delhi: The Goods and Services Tax (GST) collections have dropped to Rs 98,202 crore in August from over Rs 1.02 lakh crore in the previous month. However, total GST for August this...
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The Modi government is facing a serious cash crunch -- thanks to GST -Shoaib Daniyal
-Scroll.in More than a tenth of GDP is provided by government expenditure. This is (more) bad news for the Indian economy. In 1773, the British Parliament passed the Regulating Act, appointing a governor general to oversee all of British India. This law marked the beginnings of the Central government of the British Raj, the single most significant institution to shape the Indian subcontinent for the next two centuries. It continues till today...
More »Explaining the Rise in Revenue Deficit Between Modi Govt's Interim and Full Budgets -Aneesha Chitgupi
-TheWire.in While the revenue deficit is estimated to increase in the Union Budget in comparison to the interim one, the fiscal deficit shows a decline thanks to the increase in capital receipts especially through disinvestment. A comparison between the Interim Budget (IB) presented on February 1, 2019, and the full Union Budget (FB) presented before parliament on July for the current fiscal year (2019-20) throws up some intriguing questions. While most commentators have...
More »More of the dismal same -Prabhat Patnaik
-The Indian Express The budget needed to break new ground, provide a thrust to a slowing economy. This budget lacks innovation. Economics has never been a strong point of the NDA government. Its only two major economic forays, demonetisation and the GST, have both turned out to be pretty disastrous. It was futile, therefore, to expect much from the Union Budget for 2019-20. Even so, one is surprised by the budget’s...
More »Rahul's minimum income plan is fatally flawed -SA Aiyar
-The Times of India blog Indira Gandhi’s ‘Garibi Hatao’ swept the polls in 1971. Rahul Gandhi hopes to follow suit with NYAY (Nyuntam Aay Yojana), promising a minimum income of Rs 72,000 per year to the 50 million poorest families. Garibi Hatao flopped badly. So will NYAY unless totally rethought. Indian parties have a consensus on cash grants to the needy. Schemes in Telangana, Odisha and Jharkhand have been followed by Modi’s...
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