-The Times of India NEW DELHI: Pan masala, gutka and several other tobacco products that are sold in pouches are set to get expensive as the government on Monday increased excise duty in a last-ditch effort to boost revenues. A statement issued by the finance ministry did not specify the extent of increase in excise but said the levy will now be linked to the capacity of production, which has increased due...
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Food Security Bill on shaky turf -KP Prabhakaran Nair
-The New Indian Express In 1948 when the United Nations passed the covenant ensuring the right to food, vis-à-vis the right to proper livelihood, to which India became a signatory, it did not envisage that the whole issue would be caught up in such an imbroglio - political and economic - as one witnesses today. The original covenant in article 25 ensures the "right to work and livelihood" and right to...
More »Panchayati raj: Key to good governance and inclusion-Anil Padmanabhan
-Live Mint It's obvious that Indian experience with local governance is not what it should have been, but a change is underway Later this week, the country will celebrate the 20th anniversary of the constitutional amendments that made it mandatory for the creation of panchayats-the village-level bodies that deliver self-governance. Most may not be aware that this could well have been the eve of its 25th anniversary, but for the three-vote defeat...
More »Budget 2013: More power for taxmen faces stiff opposition-Remya Nair and Sahil Makkar
-Live Mint Evasion of duty of over Rs.50 lakh to be made non-bailable offence; arrest provisions under service tax proposed The government may find itself in hot water on budget proposals that make duty evasion beyond a certain threshold a non-bailable offence, allow arrest on suspected withholding of service tax, and provide tax authorities powers to recover dues from a defaulter’s bankers. Although finance minister P. Chidambaram in his budget presentation on 28...
More »Economy Survey sharpens debate over 'super-rich tax'
-The Times of India Amid the debate on a super-rich tax, the pre-Budget Economic Survey on Wednesday argued against raising tax rates significantly; instead, it said that the focus should be on people who have a taxable income but don't pay any income tax. "It is much better to achieve a higher tax-GDP ratio by broadening the base which is taxed rather than increasing marginal tax rates significantly — higher and higher...
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