-The Indian Express A smooth GST regime can break inter-state barriers on movement and facilitate direct linkages between processors and farmers After more than a decade of intense discussion and debate, the GST is finally becoming a reality. Although in its current form, it is not as perfect as was originally envisaged, yet it is being lauded as one of the most transformational reforms since 1991. Finance Minister Arun Jaitley was humble...
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Note ban effect: GDP growth enters slow lane in Q4 at 6.1% -Ishan Bakshi & Indivjal Dhasmana
-Business Standard GVA growth at 2-year low of 5.6%; Farming only bright spot India’s economic growth fell to 6.1 per cent in the fourth quarter (Q4) of 2016-17 (FY17), primarily because of demonetisation adversely affecting economic activity. This was at least a four-quarter low. The sectors worst affected were construction and financial services. Without indirect taxes, growth figures would be more dismal. Gross value added (GVA), the difference between gross domestic product...
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...
More »Sorting out farmers' incomes -Ishan Bakshi
-Business Standard Reportedly, Bibek Debroy suggested to tax agricultural income, which led to a public outcry Over the past few days, India’s agriculture has received much public attention for two apparently contradictory concerns. The first issue was the possibility of taxing agricultural income. NITI Aayog member Bibek Debroy reportedly suggested this move for widening the tax base and pruning exemptions. However, this led to a massive public outcry and within a few...
More »400 benami deals spotted, Rs 530 crore properties seized
-The Times of India NEW DELHI: The Income Tax department identified more than 400 benami transactions up to May 23 and immovable properties were attached in 40 cases valued at over Rs 530 crore as the authorities stepped up their fight against black money. Sources said 200 other properties were also identified as part of an ambitious crackdown on benami assets. They added that searches were conducted on 10 senior government...
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