-TheWire.in Farmers may have to pay 18% GST on the income earned through corporate farming, which the new laws are expected to promote. Like a retro Bollywood movie with multiple double acts and plot twists, the controversy surrounding the three farm laws is not just limited to the specific legislations per se, but there is more to it, much more sinister. When the Income Tax Act, 1995 (ITA) and Central Goods and...
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10 major points made by the Economic Survey -Vivek Kaul
-Livemint.com The Survey expects the Indian economy to grow by 11% in real terms (adjusted for inflation) during 2021-22. This is close to the growth of 11.5% forecast by the International Monetary Fund (IMF). This is good news. The Economic Survey of 2020-21 was published earlier in the day today. Like in the previous years, the Economic Survey tries to summarise the state of the Indian economy across various dimensions. Here are ten...
More »India tightens oversight on funds received by NGOs -Vijaita Singh
-The Hindu New guidelines to banks on Foreign Contribution (Regulation) Act rules. The Ministry of Home Affairs (MHA) has laid down a charter for banks which says that “donations received in Indian rupees” by non-governmental organisations (NGOs) and associations from “any foreign source even if that source is located in India at the time of such donation” should be treated as “foreign contribution”. As per the existing rules, all banks have to report...
More »China still ‘largest source of critical items’ for India -Ananth Krishnan
-The Hindu India is working on a multi-pronged strategy to reduce this reliance. China still remains the largest source of critical imports for India, from mobile phone components to pharmaceutical ingredients, and India is working on a multi-pronged strategy to reduce this reliance, which is a bigger concern than the imbalance in trade. “The trade deficit is not in dollars, it is in overdependence,” said Sanjay Chadha, Additional Secretary in the Ministry of...
More »A Budget blueprint for difficult times -Manmohan Singh, P Chidambaram and Praveen Chakravarty
-The Hindu Alarming inequality, failing health care and border tensions loom large and the economic situation needs full attention As the country prepares to enter a new financial year after an ominous and gloomy 2020-21, there are great expectations about green shoots and the shape of the economic recovery. The havoc wreaked by the novel coronavirus pandemic on people’s lives and livelihoods is deep and enormous. The impact of the COVID-19 induced...
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