-The Hindu Finance Bill provides for rise of Rs.5/litre While the Budget has effected a hike in the duties and cess on petrol and diesel amounting to Rs.2 per litre, the government has given itself the leeway for a further increase of levies by Rs.5 per litre, Revenue SECretary Ajay Bhushan Pandey said. While Finance Minister Nirmala Sitharaman had announced a Rs.1/litre increase in the Special Additional Duty (SAD) on petrol and diesel...
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Falling far short of the goal -CP Chandrasekhar
-The Hindu The rhetoric in the Budget of accelerated, inclusive and sustainable development receives only limited financial backing The general election is over and a new government has been formed. But the campaign does not seem to end. More than an hour of Finance Minister Nirmala Sitharaman’s maiden Budget speech was largely devoted to underlining what she claimed were the remarkable economic achievements of the previous government. Given that legacy, she presented...
More »A Budget that goes nowhere -C Rammanohar Reddy
-The Hindu It would seem that since the government is unable to catalyse domestic investment or fund public investment, it is now turning abroad to fuel growth Union Finance Minister Nirmala Sitharaman is mistaken if she thinks her first Budget is going to revive a slowing economy. The economy grew by just 5.8% in real terms in the last quarter of 2018-19. Yet, the Union Budget for 2019-20 assumes that the economy will...
More »Penalty, jail term to private entities storing Aadhaar data -Bindu Shajan Perappadan
-The Hindu Lok Sabha clears Aadhaar amendment Bill amid stiff opposition. The Lok Sabha cleared the Aadhaar and Other Laws (Amendment) Bill, 2019 by a voice vote on Thursday. The Bill replaces an Ordinance promulgated on March 2 and provides for a stiff ?1 crore penalty and a jail term to private entities for storing Aadhaar data. It also makes the use of Aadhaar voluntary for opening a bank account, SECuring a mobile phone...
More »Why young, not ageing, firms can spur job creation -Dhirendra Tripathi
-Livemint.com * Contrary to popular belief, the Economic Survey 2019 says “dwarfs”—over 10-year-old firms with less than 100 employees—which account for a majority of firms in organized manufacturing, hold back job creation and productivity * Mint explains why it is so and the way out How do small and young firms fare in terms of job creation? The Economic Survey says the contribution of small firms to output and employment in the manufacturing SECtor...
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