-Livemint.com The government had in October 2021 announced concessional import duty on crude soybean oil, crude palm oil and crude sunflower oil till March 2022, which was once extended till end of September. This has now again been extended till next March, as per the order. NEW DELHI: The finance ministry has extended concessional basic customs duty and agriculture and infrastructure development cess applicable on edible oils by six months till end...

-Hindustan Times/ Livemint.com “There is an immediate need to improve agricultural infrastructure so that we produce more, while also conserving and processing agricultural output efficiently,” Nirmala Sitharaman said in her budget speech. The government on Monday introduced a new agriculture infrastructure development cess (AIDC) on petrol, diesel and several other imported items. Finance minister Nirmala Sitharaman assured it won’t place any additional burden on consumers. However, following the introduction of the cess, states...

-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...

-The Hindu In case you missed the Budget, here's a round-up. Affirming that the economy is right on track, Finance Minister Arun Jaitley presented the Union Budget for 2016-17. Citing that the CPI inflation has come down to 5.4% from 9 plus, he said it is huge relief for the public. Tax Infrastructure and agriculture cess to be levied. Excise duty raised from 10 to 15 per cent on tobacco products other than beedis 1 per...

-The Indian Express   Reduce Centrally sponsored schemes, specify their objectives and timelines.    A Niti Aayog taskforce chaired by Madhya Pradesh Chief Minister Shivraj Singh Chouhan has apparently recommended that 25 per cent of the funds under Centrally sponsored schemes (CSS) be made available to states as untied monies. If this recommendation is accepted, states would receive a total of Rs 42,000 crore during 2015-16 itself. This recommendation should be viewed in...