We are largely a tax non-compliant society & the burden of tax-evaders falls on honest taxpayers : FM Rate of growth in advance tax in personal income tax in last 3 quarters of this financial year is as high as 34.8% 76 lakh individuals reported income over Rs 5 lakh, 56 lakh of them are […]
The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval for introduction of The Indian Institutes of Information Technology (Amendment) Bill, 2017 in Parliament.
Income Tax Department (ITD) has initiated Operation Clean Money, today. Initial phase of the operation involves e-verification of large cash deposits made during 9th November to 30th December 2016.
There has been a significant surge in CASA deposits of most banks post demonetisation, which has given a strong boost to liquidity and lowered their cost of funds. It has also encouraged banks to lower their MCLR across all tenures.
The latest round of FICCI’s Economic Outlook Survey puts forth an annual median GDP growth forecast of 6.8% for 2016-17. This is 0.5 percentage points lower than the estimate of 7.3% put across in the last round. The Central Statistical Organization had projected a GDP growth of 7.1% for 2016-17 earlier this year.
With respect to TAXATION, government should • Lower Corporate Tax Rate • Reduce Income Tax Rates • Roll out GST implementation framework • Removing the remaining inverted duty structure that does not favour local manufacturing
In order to reap the long term benefits of demonetisation there is a need to have follow up actions such as providing a boost to demand, lowering of tax rates, widening of the tax base and reforming the tax administration.
One must compliment the Chief Economic Adviser for coming out with an honest assessment and suggesting that the credibility of the system would be strengthened if tax arbitrariness and harassment are ended
Labour migration in India increasing at an accelerating rate, reveals new study: Economic Survey 2016-17 New estimates of labour migration in India have revealed that inter-state labor mobility is significantly higher than previous estimates. This was stated in the Economic Survey 2016-17 presented by the Finance Minister Shri Arun Jaitley in the Parliament today. The […]
India needs an evolution in the underlying economic vision across the political spectrum and further reforms are not just a matter of overcoming vested interests that obstruct them.
