-The Hindu In response to a RTI application, Income Tax Department reveals that 6.57 lakh individuals earned 20 times the GDP in 2011. Believe it or not, income figures shared by the Income-Tax Department in response to an RTI application by a retired Indian Revenue Service official has revealed that agricultural income recorded an exponential increase from 2004 to 2013, touching a total of almost Rs.2,000 lakh crore for individual assessees in...
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Aadhaar bill: With no respect for the law -Usha Ramanathan
-The Indian Express There is reason to wonder if this law is intended to be taken seriously, except in getting everyone on the data base, making it a scheme to number the population, and giving extraordinary powers to the UIDAI. The disrespect for the law has been an abiding aspect of the UID project, never mind the government (facts have mattered as little, but that is for another time). In the beginning...
More »Bt cotton price cut seen as big positive for drought-hit Maharashtra -Abhiram Ghadyalpatil
-Livemint.com The Union government has cut the prices of genetically-modified cotton seeds and slashed royalty fees by 74% The Union government’s decision to cut the prices of genetically-modified (GM) cotton seeds, popularly known as Bt cotton, and slash royalty fees, will have a positive impact on cotton farming in Maharashtra, India’s top state in terms of area under cotton cultivation. The Maharashtra government’s agriculture officials, cotton growers and officials at the Nagpur-based...
More »Budget 2016: Behind the Symbolism
-Economic and Political Weekly The Modi government tries hard to signal a makeover but beyond the symbolic it does not change much. Budget 2016 is not important for the proposals that it has made but for what it tries to signal about the proposed makeover, in a limited way, of the Narendra Modi government. The budget does try hard to claim that the Modi government is not a “suit-boot” administration, an image...
More »Tax waiver on 'affordable' flats may mean big profits for builders -Nauzer Bharucha
-The Times of India MUMBAI: The 100% tax waiver announced in the Union Budget on `small flats' to encourage affordable housing can lead to builders laughing all the way to the bank. Take a hypothetical case: Nothing stops a developer from constructing tiny 300square-foot apartments in tony Napean Sea Road in south Mumbai, selling them at, say, Rs 70,000sq ft, and getting a total tax waiver on profits. Experts say no law...
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