-The Indian Express Should data be allowed to flow freely or localised at source? As IT Ministry prepares to present data protection Bill in Parliament and countries argue at global forums, a look at both sides of the debate. The IT Ministry’s Bill on data protection is scheduled to be introduced in Parliament during the current session. Worldwide, the data flow debate is playing out at the World Trade Organisation (WTO)...
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India lost over Rs.90,000 crore to trade misinvoicing, says GFI report
-Livemint.com * Of the total estimated revenue losses, approximately $4 billion was due to export misinvoicing and approximately $9 billion due to import misinvoicing * Almost two-thirds of Indian imports that appear to be most at risk for some degree of potential revenues losses are imports from China New Delhi: India lost a staggering $13 billion, over Rs.90,000 crore, to trade misinvoicing, equivalent to 5.5% of the value of the country's total revenue...
More »Statisticians dismiss concerns on growth numbers raised by NSSO study: Report
-MoneyControl.com A government official defended the calculations saying that since the tax collections match up with the database, it is not unusable. Prominent statisticians have dismissed fresh concerns on growth projections raised by a National Sample Survey Office (NSSO) study. An article in The Hindu quoted statisticians as saying the discrepancies pointed out by NSSO in the new Ministry of Corporate Affairs (MCA-21) database will have no major impact on growth. The government...
More »'Firms missing from database will not affect GDP calculation' -TCA Sharad Raghavan
-The Hindu Shell companies in MCA-21 submitting balance sheets regularly very much part of measurement, says former chief statistician The deficiencies found in the MCA-21 database of the corporate sector, where more than a third of the sample companies were either untraceable, out of coverage, or closed, will not have a major impact on the calculation of GDP and GVA, according to prominent statisticians closely associated with the subject. A recent report by...
More »No surge in number of I-T stop-filers after demonetisation: CBDT
-The Times of India NEW DELHI: The Central Board of Direct Taxes (CBDT) said on Thursday that the tax base and revenues had increased significantly post demonetisation and there was no surge in the people who stopped filing returns. “CBDT clarified that contrary to the report, it is a fact that demonetization had a phenomenal positive impact on the widening of tax base and direct tax collections,” the tax department said while...
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