The GST Council met after a gap of seven months on 28th May, 2021 with five states being represented by new leaders (CM, DY CM or FMs). This 43rd meeting was held in the backdrop of worries on compensation cess, shortfall in e-way bills in second wave of COVID, likely contraction in tax revenue and […]
Today entire world including India is badly hit by COVID virus and struggling hard to save the mankind. The medical fraternity and other stakeholders are leaving no stone unturned in medical treatment and health care. When we look at health care related services , it includes supply of goods, drugs and treatment . Today, on […]
Amid a severe second COVID wave, Ministry of Finance feels that the economic impact may not be as serious as was in 2020. Our GDP may take a hit of one percent as lockdown is being applied in few states and that it is not pan India. According to Ministry of Finance, based on its […]
A realistic consequence of COVID pendamic could be counted in terms of loss of jobs, stagnant or reduced employment opportunities, increase in poverty, regressive economic impact, deterioration in incomes and disposable surplus, lesser savings, gaps in education, malnutrition , increased inequalities and so on. For the Government , this could mean lesser tax revenues, both […]
Nobody expected Covid-19 to take an aggressive u-turn as is being witnessed now. Today, the daily new cases in India are past 3 lakh which is perhaps the highest in the world. The lock downs are back again in most parts of the country with complete lock down in few states. The shops and businesses […]
In the backdrop of rising Covid-19 cases in its second wave, the International Monetary Fund (IMF) has raised its forecast of economic growth for India to 12.5% as per latest World Economic Outlook (WEO) for the FY 2022. In fact, it has pitched India as the fastest growing economy major and the only economy to […]
Economists now expect that economy may grow @ 27%, 10%, 59% and 6% in four quarters of 2021-22. Though pandemic may worsen before getting better, strict lock- downs are unlikely. SBI has also endorsed that Indian economy is now on the path of high growth. Now UN economic and social commission for Asia & Pacific […]
The ongoing Budget session of Parliament recommenced its second phase from 9th March, 2021. However, it is likely to conclude early ahead of state polls which are from 27th March, 2021. Finance Bill, 2021 was debated in Parliament on 22.03.2021 in Lok Sabha and 24.03.2021 in Rajya Sabha which has been passed by both the […]
The alco-beverage industry continues to be excessively regulated in India, even after over 70 years of independence. Such over regulation is not just in manufacture but also in sales and consumption. While we have no national economic policy on the same, simply because alco-beverage is state regulated, every state has its liquor or state excise […]
India’s Q3 economic numbers were released by CSO last week hinting that the Indian economy / GDP will contract by 8% in 2021-21, a little higher than the estimated contraction of 7.7%. This would mean that GDP may contract in current quarter too. There is a recovery in private consumption in Q3. Government’s capital expenditure […]
