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Economy and Business

As Parliament prepares to convene again after a winter session washed out due to the Opposition’s protest on demonetisation, it is worth asking why political mobilisation against the exercise is proving to be so difficult

 

There have been some media reports about possible government thinking on having differential GST rates on services, depending on its classification as luxury, standard and basic services. In such as situation, services which are classified as ‘luxury’ would attract a higher rate, followed by those under ‘standard’ and then ‘basic’.

 

There is no compelling need to give tax refunds to consumers

 
Public support for demonetisation should convince the government to take bolder steps.  
 

This year, there is a greater urgency to the myths. State elections for five major states are coming up, including UP, a 204-million population state.

 

The suspense over the timing of the Union Budget for 2017-18 finally ended on Monday with the Election Commission and the Supreme Court scotching calls, in the light of upcoming elections for five State Assemblies, to defer the February 1 date proposed by the Centre.

 

To gain some perspective on the Centre’s decision to divest 25% of its stake in five public sector general insurers, consider these numbers.

 

The Narendra Modi government has done well to thrash out a deal with states on the contentious issue of sharing of administrative powers over the Goods and Services Tax (GST). States had been insisting on control over assessees with an annual turnover of up to Rs 1.50 crore.

 

The finance minister can cut everyone’s tax burden, even pay the poor, and be revenue neutral by cutting sops

 

India is still coming to grips with Prime Minister Modi’s ‘shock and awe’ approach to demonetisation, which should be seen as an important element of his ambitious digital India mission. 

 


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