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Dr. Manmohan Singh, former Prime Minister of India, interviewed by Richa Mishra (The Hindu Business Line)

-The Hindu Business Line The government must simplify and rationalise GST, kickstart rural consumption, revive agriculture and tackle the lack of credit for capital creation, says former PM Former Prime Minister Manmohan Singh, an eminent economist himself, feels that the Narendra Modi-led government needs to come out of its habit of headline management and address the economic challenges which the country is facing today. “We cannot afford to deny that India is facing...

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Corporate tax reduction: They already pay much less than required effective -Subodh Varma

-Newsclick.in Effective tax rate for Big Business in India was 26.3% although statutory rate is 34.6%, according to Budget documents. There is a proposal that corporate taxes should be reduced to 25% from 30%. According to reports, this has been mooted in a report submitted to the finance minister by a panel headed by Akhilesh Ranjan, member of the Central Board of Direct Taxes (CBDT). However, data on corporate taxes put out...

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Why states are demanding more from the 15th Finance Commission - Nikita Kwatra and Pramit Bhattacharya

-Livemint.com Transfers to states are stagnating at a time when developmental demands on state governments are rising Five years ago, when the 14th finance commission recommended an increase in devolution of funds to state governments and a hike in the share of untied funds they received, it was heralded as a new era for fiscal federalism in the country, and one that would significantly empower state governments at a time when they...

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Repealing the Construction Workers Act Under New Labour Codes Will Prove Disastrous -Harshil Sharma

-TheWire.in In the name of simplification and universalisation, the new labour codes will likely result in increased worker exploitation. The Indian government has brought out four labour codes with the stated objective to rationalise and simplify the existing 44 labour laws. It is a welcome initiative to consolidate and simplify the delivery of justice to the working class. The four labour codes relate to wages, industrial relations, social security and welfare and...

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Government keeps options open for more fuel price hikes -TCA Sharad Raghavan

-The Hindu Finance Bill provides for rise of Rs.5/litre While the Budget has effected a hike in the duties and Cess on petrol and diesel amounting to Rs.2 per litre, the government has given itself the leeway for a further increase of levies by Rs.5 per litre, Revenue Secretary Ajay Bhushan Pandey said. While Finance Minister Nirmala Sitharaman had announced a Rs.1/litre increase in the Special Additional Duty (SAD) on petrol and diesel...

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