Believe it or not, the total revenue foregone in 2017-18 on account of special tax rates, exemptions, deductions, rebates, deferrals and credits -- broadly termed as 'tax expenditures' (an indirect subsidy) – that was given to corporate taxpayers has been more than 50 percent of the expenditure incurred by the Ministry of Agriculture & Farmers Welfare (MoAFW) and the Ministry of Rural Development (MoRD) altogether in that year. In other...
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Employment-related payments get taxable -Lubna Kably
-The Times of India MUMBAI: The Income-tax Act is intricate — sometimes income received by an individual even if it relates to employment, does not fit within the technical definitions of 'salary' or 'profits received in lieu of salary'. Thus, very often, such income could not be taxed. Budget 2018-19 proposes to change this scenario. A wide range of income received — say non-compete payments (which sometimes did not fit the above...
More »For India's Farmers, Budget 2018 Is Nothing but a Hoax -Kirankumar Vissa
-TheWire.in The finance minister has made a big announcement on minimum support price, but he should make it clear whether all he is promising is to take the prices back to the UPA-II levels. The government has done it again. Like last year, there has been much hype about a pro-farmer Budget, but in actuality it rests on misleading claims which don’t address the farming crisis. Last year, the agriculture credit target...
More »Green Paper on Farmers, Farming & Rural Economy 2018: 4 Years - 4 Budgets: What Has This Central Government Delivered?
According to the document entitled Green Paper on Farmers, Farming & Rural Economy 2018: 4 Years - 4 Budgets: What Has This Central Government Delivered?, which has been prepared by Jai Kishan Andolan, Swaraj India, ASHA and Rythu Swarajya Vedika (published on 30 January, 2018): Far from giving farmers and farming ‘the highest priority’ during a period when they most needed the governmental support, the present NDA government has tried to...
More »Despite having a food security legislation, spending on food subsidy is low
Recent data from the National Family Health Survey-4 (NFHS-4) shows that about one-third of children in India is undernourished – 35.7 percent children below 5 years are underweight (too thin for age), 38.4 percent are stunted (too short for age) and 21.0 percent are wasted (too thin for height). It is also revealed that the level of anaemia among women and girls (aged 15-49 years) has stagnated marginally over the...
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