-Newsclick.in This bounty for corporate houses comes at a time when common people are reeling under a slowdown, joblessness is at record levels and incomes are stagnating. Continuing her series of press conferences, that are becoming like a treasure hunt for corporates, finance minister Nirmala Sitharaman announced today that corporate tax rates will be slashed from the current 30% (average) to 25.17% including all cess/surcharge. Actually, if no other concession is availed...
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An independent fiscal watchdog for Parliament -Varun Srivatsan
-The Hindu A Parliament Budget Office can help drive smarter, more focused debate in the media and with the electorate When most people arrive at the ballot box, they vote with their gut. But getting there requires absorbing and shaping months and years of conversations, long-held opinions and ideally, hard facts and evidence. What is then important for our electorate and the representatives we vote for is that they have an independent, non-partisan...
More »Explained: How the latest corporate tax rate cut impacts the economy -Udit Misra
-The Indian Express A cut in personal income tax or GST slabs would have spurred the economy more in the short term but the corporate tax cut is beneficial for the economy in the long term. Finance Minister Nirmala Sitharaman’s announcement to cut corporate tax rates on Friday morning was a welcome surprise for the Indian economy that has been struggling with growth deceleration. According to reports, the Government has cut the...
More »Why are resident Indians remitting more money abroad than ever before?
-TheWire.in From $1 billion in 2012 to over $13 billion in 2018, higher remittances could indicate greater spending abroad as rich Indians look to diversify or the beginnings of a flight of capital. New Delhi: Indians sent more money out of the country than ever before in July 2019 under the liberalised remittance scheme (LRS), in a development that comes even as the Narendra Modi Government looks to attract foreign direct...
More »Food ministry pushes for increase in allocation of subsidised food grains -Rituraj Tiwari
-The Economic Times NEW DELHI: The food ministry has revived the proposal to increase by 2 kg each the allocation of subsidised food grains to 810 million poor people covered under the National Food Security Act. Food minister Ram Vilas Paswan has written to Prime Minister Narendra Modi seeking his approval for this proposal, which has been lying before the Cabinet for some time. If the proposal gets clearance, it will help the...
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