-The Asian Age Replacing income-tax with a banking transaction tax is an unworkable idea. The poor will end up paying a lot more: Subhanil Chowdhury The idea that all taxes in India should be abolished, except import duty, and replaced by a bank transaction tax (BTT) is a deeply flawed one for a number of reasons. First, there are only few countries in the world that do not have income-tax — oil rich...
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It Is Time to Address India's Abysmal Job Creation Record -Pradeep S Mehta & Amol Kulkarni
-TheWire.in More than 550 jobs were lost each day in the last four years in India, placing it behind Bangladesh and Vietnam in terms of job creation. The sheer pressure of poverty means that job creation will always be high on the agenda of any government. In India, significant public resources have been invested to encash the demographic dividend and prevent it from becoming a burden. But the results have been far...
More »Demonetisation: The Lies The Government Weaves As It Abandons Reason -Prabhat Patnaik
-TheCitizen.in NEW DELHI: So many lies are being spread by the government which is currently busy wrecking the Indian economy in the manner of a bull in a china shop; so many spurious economic arguments are being trotted out by it, that one has to be extremely vigilant not to be swept away by this tide of unreason. In the current article, and the two subsequent ones to follow, I propose to...
More »Cash crunch rains misery on farmers after below-par monsoon -Nidheesh MK, Dharani Thangavelu and Sharan Poovanna
-Livemint.com The impact of cash crunch on farmers is likely to have a cascading effect on the broader economy in southern India Bengaluru/ Chennai: P.V. Rajappan, a rice farmer in Kerala’s drought-hit Palakkad district, had been planning to drill a borewell to irrigate his next crop. He thought he would be able to do it this year. Rajappan delivered his entire harvest—10,210kg of paddy—to the state-run Civil Supplies Corporation, popularly known as...
More »Oil mills in Modi backyard idle minus cash -Basant Rawat
-The Telegraph Ahmedabad: Samir Shah never had such spare time in his life as an oil mill owner. This is, after all, the peak season when mills buy oil seeds that are available after the harvesting of kharif crops. But the Saurashtra businessman has been sitting idle the past fortnight. There's no cash to do business. The demonetisation drive has left entrepreneurs like him with a shrunken wallet. And farmers don't usually accept...
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