-The Indian Express The savings rate, expressed as a percentage of the gross domestic product, reflects the pool of investible funds within the country that are available for the government and private businesses to use for investment purposes. The government’s plan to gradually get rid of all exemptions and deductions under the personal income tax regime — in a bid to provide lower taxes and a simplified tax architecture as well as...
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'Can you identify Bangladeshi by looking at face': Karnataka HC slams state
-TheNewsMinute.com The BBMP demolished many huts in a settlement in Bengaluru over suspicions that illegal Bangladeshi immigrants stayed there. "By looking at the face of a person, can one be identified as being a Bangladeshi national?” questioned Karnataka High Court Chief Justice Abhay Shreeniwas Oka, slamming the state over the demolition of settlements in Bengaluru over suspicions that illegal Bangladeshi immigrants stayed there. The High Court bench comprising Chief Justice Abhay Oka...
More »Explained: What ails the credibility of India's Budget numbers -Udit Misra
-The Indian Express Advancing the Union Budget by a month has not helped fiscal marksmanship In the first pART of this series on the Union Budget, we explained how the nominal Gross Domestic Product (which is the market value of all goods and services produced within the domestic boundaries of India) is the key number that determines the shape and form of the Union Budget. In short, the nominal GDP for the current...
More »Centre's decision on revenue deficit grant fails to cheer State -NJ Nair
-The Hindu Concerned over time and quantum of funds to be devolved over the years Even after the Centre accepting the Union Finance Commission’s revenue deficit grant award of Rs. 74,000 crore, the State government is concerned over the time and quantum of funds to be devolved over the years. The concern is largely based on the Centre’s practice of slashing the grant progressively in the previous years. Citing financial constraints, if the...
More »Every single number is a lie, says Jayati Ghosh
-The Hindu ‘Allocation to job-intensive sectors cut’ “Every single number in the Budget is a lie,” Jayati Ghosh, Professor of Economics at Jawaharlal Nehru University (JNU), said in Mumbai on Sunday of the Union Budget. India’s current slowdown is worse than that of 1991 and 2008, and the Budget has cut allocations to all employment-intensive sectors, further adding to the mess, said Ms. Ghosh, one of the world’s leading development economists. “All the...
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