Following the pandemic, the income of the bottom 50 per cent of the population is estimated at 13 percent of national income and 3 percent of total wealth Apoorva Mahendru, Kanishk Gomes, Mayurakshi Dutta, Noopur, Pravas Ranjan Mishra Oxfam International's annual inequality report makes for stark reading. The India supplement, part of the main report, states that the top 1 percent of Indians own nearly 40.6 percent of the total wealth in...
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India’s 20 Largest Profit Generators Are Earning 80% Of the Nation’s Profits - Nandita Rajhansa, Saurabh Mukherjea
A decade ago, this figure was around 40%. This is leading to an increasingly polarised stock market - Marcellus/The Wire The United Payments Interface and the digitisation of business activity in India are one of the several factors driving an exponential surge in the concentration of corporate profitability in India. Improvements in transport infrastructure (e.g., the highway network has doubled over the past decade), the introduction of GST (in 2017) and new...
More »Rahul Gandhi: No GST on handlooms if Congress is elected -Srinivasa Rao Apparasu
-Hindustan Times Rahul Gandhi promised to provide land rights to the tribal farmers of Telangana once the Congress comes to power in the state in the next year’s assembly elections. Hyderabad: Congress leader Rahul Gandhi on Friday assured that the party, once voted to power at the Centre, would do away with Goods and Services Tax (GST) on handlooms to provide succour to the weavers. He also promised to provide land rights to...
More »Cereal inflation would be hard to tame amidst low rice acreage
Is India going to face inflation in cereal prices during the rest of the current financial year? Experts differ on this. An analysis by Nomura Global Economics and CEIC finds that a below normal monsoon does not always translate into high retail inflation in food. Similarly, an above normal southwest monsoon does not always bring down the rate of food inflation. However, some agricultural experts (please click here, here and...
More »Traders’ body pitches for withdrawal of 5% GST on unbranded foodgrains
-Livemint.com The CAIT has urged the states to call an emergency meeting of the GST Council immediately to decide on the withdrawal of the tax on these items Bengaluru: The Confederation of All India Traders (CAIT) on Wednesday wrote to chief ministers and finance ministers of all states demanding the withdrawal of the 5% goods and services tax imposed on unbranded foodgrains and other items that came into effect from Monday. The association...
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