-The Telegraph Corporate tax contributes 8 percentage points less to the gross tax revenue now than it did in 2014 when the Modi government took over, says P Chidambaram New Delhi: The Opposition on Monday sought answers to fundamental questions on the economy that finance minister Nirmala Sitharaman has strenuously asserted is the fastest growing in the world. Corporate tax, paid by business houses, contributes 8 percentage points less to the gross tax...

-Hindustan Times The petitioners had questioned whether the Government carried out any study linking demonetisation as an effective tool to achieve the objectives of curbing black money, terror financing or fake currency. Hardships caused due to demonetisation cannot be the basis for faulting the Government’s 2016 notification to ban currency notes of ₹500 and ₹1000, the Centre told the Supreme Court, adding that the cutoff date December 30 fixed by the Centre...

-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...

-TheWire.in Why should the money collected through purpose-specific cesses be funneled into a state's consolidated fund? On July 20, 2022, the Comptroller and Auditor General of India (CAG)’s report on Kerala’s finances for the fiscal year 2020-21 was tabled in the state assembly. Amongst several other observations, this report has noted how funds being kept outside the ‘Consolidated Fund’ of the state. The context here is the manner in which Kerala treats cess...

-TheWire.in A recent CAG report paints a sobering picture of the Delhi Building and Other Construction Workers’ Welfare Board's performance. A recently tabled Comptroller and Auditor General (CAG) report has raised critical questions over the functioning of the Delhi Building and Other Construction Workers’ Welfare Board. Let’s start with the most startling revelation. According to the national auditor, the welfare board, which comes under the Delhi government’s labour department, spent a meagre Rs...