-The Telegraph Lower corporate tax of 15% valid till March 2023 The government is exploring the possibility of extending the duration of the corporate tax relief to new units beyond March 2023. Sources said the commerce ministry had taken up the issue to extend the benefits to seven years with the Finance ministry. The ministry has argued the duration should be higher as the time taken from conceptualising a project to actual production could...
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Govt set for 20% cut in wasteful expenses -Harikishan Sharma
-The Indian Express “All ministries have been directed to reduce wasteful expenditure on travel, food and conferences by 20 percent. The CCIG has asked the Department of Expenditure, Ministry of Finance, to take necessary action in this regard,” a source told The Sunday Express. In an austerity move, the Union government has decided to reduce wasteful expenditure on items such as travel and food by 20 percent, it is learnt. A decision of...
More »Mining deep: on Cabinet easing mining laws
-The Hindu While opening up the coal mining sector, the govt. must protect the interests of Coal India The Centre’s decision to liberalise norms for entry into coal mining and relax regulations on mining and selling coal in the country is significant in many respects. Amendments to two legacy Acts through the Mineral Laws (Amendment) Ordinance 2020 cleared by the Cabinet on Wednesday will free the sector from restrictions that were inhibiting...
More »States stare at over Rs.1 lakh crore revenue gap post withdrawal of GST compensation
-PTI At the time of implementation of the Goods and Services Tax on July 1, 2017, the Centre had promised to compensate states for loss of revenue for five years at an agreed formula States might be facing a consolidated revenue gap of up to Rs.1.23 lakh crore on account of withdrawal of compensation after the five-year GST transition period ends on June 30, 2022, says a report by economic think tank...
More »Rural workers face wage delay -Basant Kumar Mohanty
-The Telegraph MGNREGA funds run thin, government sits on demand Millions of rural job scheme workers may have their wages delayed in the new year with the programme coffers depleting and the Finance ministry sitting on the demand for additional funds. According to data on the scheme website, the funds available as of December 30, 2019, were Rs 2,766 crore, which social activists working on the scheme’s implementation said would be exhausted in...
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