-Livemint.com The simplification process may result in some readjustment of GST rates, including a possible reduction in tax of some items that are in the highest tax slab of 28% New Delhi: Policymakers are considering steps to ease the compliance burden related to the goods and services tax (GST) on small businesses and to make product classification for taxation less complicated, said revenue secretary Hasmukh Adhia. The simplification process may result in some...
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Aadhaar centres: Banks question UIDAI's authority to issue directions -Gopika Gopakumar
-Livemint.com Only RBI has the power to issue directives to banks, says Indian Banks’ Association Mumbai: The Indian Banks’ Association (IBA) has questioned the jurisdiction of the Unique Identification Authority of India (UIDAI) in issuing directions to banks under the Aadhaar Act, according to two people aware of the matter. IBA has written to the ministry of electronics and information technology, the Reserve Bank of India (RBI) and the finance ministry’s department of...
More »Fund crunch: 88% of NREGA budget over, 6 months left -Shalini Nair
-The Indian Express Last financial year, of the additional Rs 15,000 crore that the MoRD sought in supplementary demands, the Finance Ministry cleared only Rs 9,000 crore. Despite the Centre’s claim that this year’s MGNREGA budget is the highest ever, almost 88 per cent of the funds available for the scheme have already been exhausted, just halfway through the financial year. As of next week, only Rs 6,000 crore of the Rs...
More »Six steps to job creation -Santosh Mehrotra
-The Hindu It is crucial to align policy across sectors and upgrade the country’s social infrastructure In India’s highly segmented labour market, one can still discern at least three demographic groups that are in urgent need of jobs: a growing number of better educated youth; uneducated agricultural workers who wish to leave agricultural distress behind; and young women, who too are better educated than ever before. India is indeed the fastest growing large economy...
More »SIT on blackmoney under the RTI Act: CIC
-PTI The SIT was set up on the orders of the Supreme Court in 2014 through a government notification to suggest methods to curb black money in the economy. The Supreme Court appointed Special Investigation Team on black money is answerable under the RTI Act, the Central Information Commission has held. Bringing SIT under the RTI Act, Information Commissioner Bimal Julka said every action of the government must be actuated in...
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