-The Hindu Business Line While the idea is reasonable, the issue is so political that it will automatically ring in negative points for the implementer The subject of taxation on farm income has once again taken centre stage not just because there have been some distinguished opinions voiced on this subject but also that this has been recognised as one area where money is channelled to avoid paying taxes. As the focus...
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Demonetisation and the GDP: knock-out punch or mild tap? -Aarati Krishnan
-The Hindu The CSO has been consistent with its methods, allowing little room for suspicion of window dressing. Did demonetisation deal a knock-out punch to the Indian economy? Or was it just a mild tap from which it is already recovering? This debate should have been settled with the latest second advance estimates from the Central Statistics Office (CSO) which peg FY17 GDP growth at 7.1%. But commentators who believe that the economy...
More »Tax buoyancy improves, thanks to indirect levy -Muthukumar K
-The Hindu Business Line Research Bureau But indirect tax is inequitable as it is a burden for both the rich and the poor alike The growth in tax collection in relation to GDP growth has improved over the past couple of years under the Modi regime. In 2013-14, the final year of the UPA regime, tax buoyancy hit a four-year low at 0.71. Since then, it has improved to 1.23 in 2014-15 and...
More »Indirect Tax Collections up 26% in 1st half
-PTI Collections of indirect taxes during the first half of the current financial year grew by 25.9 per cent to Rs 4.08 lakh crore, mainly on account of a 46 per cent jump in excise duty collections. The net indirect-tax collection in the April-September period is 52.5 per cent of the Budget 2016-17 estimates. The finance ministry said net collections of central excise jumped 46.3 per cent to Rs 1.83 lakh crore during...
More »Centre owes over Rs. 81,000 cr. to States
-The Hindu The amount is tax share of last 10 years The Centre owes over Rs. 81,000 crore to States as tax shares of last 10 years, according to a finding by the Comptroller and Auditor-General of India. According to details of communication between the CAG and the Finance Ministry, between 1996-97 and 2014-15, the Centre has failed to devolve to States Rs. 81,647.70 crore. Just in 2006-07 the Centre did not disburse...
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