-The Hindu The 15th Finance Commission has to take a call on the degree of equalisation that’s feasible In the context of the Terms of Reference (ToR) of the 15th Finance Commission (FFC), certain key aspects relate to (a) the mandate for using the 2011 population; (b) ‘whether revenue deficit grants’ be given at all; (c) the impact of the goods and services tax (GST) on the finances of the Centre and...
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Size of tax rebates is large as compared to spending by agricultural & rural development ministries
Believe it or not, the total revenue foregone in 2017-18 on account of special tax rates, exemptions, deductions, rebates, deferrals and credits -- broadly termed as 'tax expenditures' (an indirect subsidy) – that was given to corporate taxpayers has been more than 50 percent of the expenditure incurred by the Ministry of Agriculture & Farmers Welfare (MoAFW) and the Ministry of Rural Development (MoRD) altogether in that year. In other...
More »Tracing the economic roots of discontent among farmers -Roshan Kishore
-Hindustan Times Farmers have experienced a growing mismatch between their production efforts and incomes under the Narendra Modi government. The coming union budget will have to find a balance between two contradictory FDs: farm-distress and fiscal discipline. The choice is not going to be an easy one. Ignoring farm-distress in the last full-fledged budget before elections could be politically suicidal. Meanwhile, there are at least two things that could make the government slip...
More »Sliding GST collections may put pressure on government -Gireesh Chandra Prasad
-Livemint.com GST rate cut and lenient implementation of the tax reform has caused GST collection in December to slip to Rs80,808 crore, down 14% from August and 3% from November New Delhi: Things don’t augur well for the exchequer, with recent GST rate cuts and a lenient implementation of the goods and services tax causing collections to slide further in December, posing a challenge to the government. Total GST collection of the central...
More »TCA Anant, Chief Statistician of India and Secretary -- MoSPI, interviewed by Vikas Dhoot and TCA Sharad Raghavan (The Hindu)
-The Hindu The Chief Statistician of India on the economy, the meaning of the new series of GDP data, and the need to wait for the impact of demonetisation to unfold T.C.A. Anant is the Chief Statistician of India, and Secretary, Ministry of Statistics and Programme Implementation. He has been in charge of several notable changes in the way economic data has been recently presented, including the new GDP and Gross Value...
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