It is good to hear NITI Aayog vice chairman Rajiv Kumar saying the government is rethinking its approach to spectrum auctions
In the long-run, RBI’s new rules are healthy; for now, with NPAs rising faster, capital shortages will rise again
But the move raises issues of Indian taxation/regulation that need to be addressed
Even as farmers in Punjab dump their potatoes on the streets in the absence of a reasonable price for them, prices in the neighbouring Delhi are in the region of Rs 15-20 per kg.
Deficiency payments swell due to market manipulation.
Budget 2018: Though the Budget did not specify which cost will be used, chances are the lower A2+FL will be used. In the case of paddy, for instance, MSPs will need to be raised by around 11%, 18% in the case of cotton, 41% for jowar, etc, using even this lower cost as the base.
As for Apple and others that are importing phones, as this newspaper has shown (goo.gl/mhd1vT), even though so-called indigenisation of phones has increased dramatically—a mere 19% of phones were made locally in 2014 and this is up to over 74% today—the import bill has risen from $8.8 billion to $12.6 billion over the same period.
The budget’s promise of MSP-based deficiency payments, should the government not be able to procure all crops at the MSP, could cost around Rs 80,000 crore based on conservative estimates.
Budget 2018: Mobile phone manufacture is the most obvious Make-in-India story. From just two in 2014, India has 123 manufacturers today. The output of phones is up from 48 mn to 224 mn and will rise further this year (2018) to 279 mn. Put another way, from a mere 19% in 2014, Made-in-India mobiles are up to 74%, and by the end of 2018, this will rise to 90%.
Budget 2018: Finance minister Arun Jaitley has done well to clarify that the new health insurance scheme the Budget talks of will not involve getting hospitalized and then claiming a reimbursement since, as he said, this makes the scheme very messy – and, presumably, prone to abuse.
Budget 2018:In other words, expect a surge in inflation and a bankrupting of government since, if the crops are not procured, farmers are to be compensated for this—for most crops, post-harvest prices are always significantly lower than MSPs.
A Narendra Modi talking of setting up a pan-Indian electronic mandi, eNAM, will get nowhere since most states want to keep their farm produce at home, but in a Council, things are quite different, especially when the states know their interests will be taken care of.
Union Budget 2018: Both demonetisation and GST disrupted the economy — though all evidence suggests the worst may be behind us— but as the Economic Survey points out, what is less appreciated is the role played by interest rates.
Budget 2018: While few economists endorse a Demonetisation/GST dividend, the Survey encouragingly points to a bump, saying that after November 2016, 10.1 million filers were added compared with an average of 6.2 million in the preceding six years.
For January to March, if past trends in indirect taxes are anything to go by, GST collections should average over Rs 110,000 crore per month at the least.
The World Inequality Report, essentially Piketty data, says that income inequality in India has reached historically high levels and, in 2014, the share of national income accruing to India’s top 1% of earners was 22%, while the share of the top 10% was around 56%.
With the four senior-most judges in the Supreme Court after the Chief Justice—Justices Jasti Chelameswar, Ranjan Gogoi, Madan Lokur and Kurian Joseph—deciding to hold a press conference against how the Supreme Court was functioning, the rot in the judicial system, stemming from its opacity, is now out in the open.
Judges press conference: Opacity in SC functioning and judges’ appointment a big worry as also the issues of judicial corruption
There can be little doubt UIDAI handled The Tribune expose badly by filing an FIR against the reporter who got access to personal information of people, albeit not their biometrics.
Since Aadhaar is a 12-digit random number, UIDAI can theoretically generate one lakh crore Aadhaars.
Development economist Jean Dreze makes a valid point when he says the government must at least double old age pensions for the destitute.
They certainly look high, but SBI and other banks need to meet costs of large branch/ATM networks and servicing no-frills accounts
After action against McDonald’s, firms will now have to keep detailed cost-sheets for each item they sell.
eKYC is giving a big push to banking and financial services, e-learning addresses the big gaps in our education system, DigiLocker ends document-fraud to a large extent, and Aadhaar-based DBT makes consumers of the country’s poor … the potential is truly huge
2G scam case judgement: It’s a sad day when finance secretary uses sophistry to hide his views on Raja issue and says revenue sacrifice not same as saying govt suffered a loss.
Given the fact that the licences were given for a song, and were flipped over, shocking to argue there was no scam.
With even the most optimistic exit poll not giving the Congress party anywhere near the 80 seats it finally won, it is clear the Gujarat elections have helped bolster new Congress president Rahul Gandhi’s credentials considerably.