Paytm's founder Vijay Shekhar Sharma was in the news recently for signing a deal to purchase a Rs. 82 crore worth property in Lutyens’ Delhi. He is credited with the growth of Paytm's mobile wallet services, which is currently being used by over 220 million users across the country. Although Paytm was launched in 2010, the popularity of its mobile wallet services and payment gateway among the ordinary citizens grew...
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Why shouldn't rich farmers pay? -Mukesh Butani
-The Economic Times blog Finance minister Arun Jaitley was correct when he stated in April that constitutional constraints do not empower his government to tax agricultural income, implying that he is not constrained from amending the Income-Tax Act. B R Ambedkar, in framing the Constitution, was vehemently critical of British land revenue system, the foundation for which was laid during the Mughal period, and strengthened by the East India Company, which...
More »Slabs are still numerous
-The Telegraph New Delhi: The goods and services tax (GST) regime has replaced a cascade of 11 central and state taxes with a concertina of eight tax rates, defeating the original idea of having a three-slab tax structure. The current GST structure on goods ranges from zero to around 40 per cent. If jute, silk and muri (puffed rice) fall in the exempted category, luxury cars and SUVs fall in the top...
More »SBI ATM, online, cash transaction fees change from June 1: All you need to know -Ramarko Sengupta
-The Times of India State Bank of India (SBI) has revised service charges on ATM (Automated Teller Machine) withdrawals for users of its mobile app "SBI Mobile Buddy", as well as for various other cash and online transactions, effective from June 1. The country's largest lender will start charging customers Rs 25 per transaction for withdrawing money from an ATM through its mobile wallet app from Thursday. The SBI mobile wallet allows...
More »DeMolished India's top rank -Jayanta Roy Chowdhury and R Suryamurthy
-The Telegraph New Delhi: India is no longer the fastest-growing major economy in the world: it has lost its bragging rights to China. The Central Statistics Office (CSO) today put out its provisional estimates on national income that showed real GDP growth had tumbled to 6.1 per cent in the fourth quarter (January-March). That is considerably slower than the 6.9 per cent growth that the resurgent Chinese economy racked up during the same...
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