-The Hindu In case you missed the Budget, here's a round-up. Affirming that the economy is right on track, Finance Minister Arun Jaitley presented the Union Budget for 2016-17. Citing that the CPI inflation has come down to 5.4% from 9 plus, he said it is huge relief for the public. Tax Infrastructure and agriculture cess to be levied. Excise duty raised from 10 to 15 per cent on tobacco products other than beedis 1 per...
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Questions that need answers -Paranjoy Guha Thakurta
-The Asian Age As one listened to finance minister Arun Jaitley deliver his third Budget speech, the overwhelming impression that was sought to be created was along anticipated lines. Here was a government whose heart was bleeding for the hapless farmer toiling in the fields, the agriculturist whose livelihood has been all but destroyed by two successive monsoon failures. Here was an administration whose representatives were concerned about the “curse of...
More »Cess proceeds in a black hole
-The Hindu The National Democratic Alliance government has just introduced a cess of 0.5 per cent on all taxable services for the Swachh Bharat campaign. In February 2016, it will introduce a 2 per cent cess on airfares for all domestic flyers except those flying to remote locations, and international travellers. This cess is meant to fund losses that airlines may incur in connecting to hinterland locations. The Central government loves...
More »Rs. 1.4 lakh crore cess money lies idle -TCA Sharad Raghavan
-The Hindu The funds collected can be used only for the designated purpose and cannot be diverted More than Rs. 1.4 lakh crore of funds collected by the government under various cesses for purposes as varied as higher education, road development and the welfare of construction workers are lying unutilised, shows an analysis by The Hindu of a Comptroller and Auditor-General report on government finances and answers by Ministers in the Lok...
More »Need to Redefine Concept, Strategy of Development -MA Oommen
-The New Indian Express The recent socio-economic and caste census (SECC) 2011 data on deprivations is profoundly disquieting. At the global level too, the latest data on economic inequality is equally disconcerting. That 75 per cent of rural households in India earn less than Rs 5,000 per month or around Rs 33 per capita per day and that over 40 per cent are landless and work as manual casual labourers even...
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