Changing GST rates for Covid-supplies no panacea
The solution lies in ensuring adequate supply and not making ad hoc changes to GST rates
Second Covid-19 surge: Dealing with the uncertainties
Vaccine is a national public good, and it must be financed through taxation and made available to all uniformly without charging
The number game: Making sense of GDP estimates
The sector-wise estimate for Q4, deciphered from the three quarter estimates and the second advance estimate for the whole year, does not make much sense
Union Budget 2021: Budget signals reform, implementation will be key
Union Budget 2021 India: A fine balance has to be struck to ensure that more allocations are made to the sectors with high fiscal multipliers and high employment intensity
Deficit danger: The perilous state of state finances
A 10% Contraction in tax revenues and a shortfall of Rs 50,000 cr in non-tax revenues & central grants means states will see a revenue shortfall Rs 5.5 lakh crore
Charting recovery: Next on the reforms agenda
Govt did well on Farm, medical education, etc, reforms. Now, it must work on bank reforms, judicial & police reforms and shunning protectionism
Goods & Services Tax: The compensation conundrum
There was no reference to “Act of God” in the GST agreement, nor was it provided that the states will have to borrow & pay interest on the compensation loans.
Should states be penalised by reducing their share of taxes because Centre failed to reform PSBs?
Reducing the states’ share in the divisible pool of taxes because the Centre requires fiscal space to recapitalise PSBs is tantamount to penalising them for the Centre's mistakes
Why there’s a need to stabilise the GST tech platform
Apart from the rate-structure maze, another reason why GST revenues are missing the mark is poor compliance, which the GST tech was supposed to address.
Borrowing room for states, sans cooperative federalism
The stimulus announced by the Union finance minister in five instalments is not likely to have much impact in reviving the economy in the short term.
Coping with coronavirus: The next steps
In the face of the corona-crisis, the Centre must postpone the fiscal consolidation, and even relax states' fiscal deficits, while keeping a close eye on inflationary prices.
How to avoid harassment of taxpayers because of overestimated tax revenue collections
Overestimating tax revenue collections leads to harassment of taxpayers, and poor budget management. Independent fiscal institutions can help india overcome this
IMF report: Can monetary policy rescue from economic slowdown?
The IMF report states that the downside risks to growth can arise mainly from the inability to undertake structural reforms, shortfalls in revenue collections, slowness in cleaning up the balance sheets of the PSBs and corpor
Tax revenues: Sequencing the GST reform
Structural and operational reforms—reducing number of tax slabs and broadening the base, etc—must be undertaken once tax revenues become relatively stable
Should corporate taxes finance anti-poverty programmes?
As capital is highly mobile, taxing it at high rates may lead to its flight, thereby having adverse effects on economic activity, employment and incomes.
Corporation tax cut: Who bears the cost of revival plan?
There are already cries for abandoning the targets to revive growth from various quarters, and it will not be surprising if the FM takes the bite.
After taking steps to aid growth, govt must now work to rationalise GST rate
The govt has taken a few decisions that should Aid growth. Now, it must work ON RATIONALISING GST rate
Whither fiscal federalism: Carving out defence fund out of the divisible pool hurts constitutional propriety
The Centre wants a special fund for defence even as its defence-spend to GDP ratio has shrunk, and its spending on state subjects rose from 14% (2005) to 20% (2012)
Encephalitis deaths: Do we really care?
Encephalitis deaths: Sadly, this has been happening every year either in Bihar or Uttar Pradesh. After expressing shock and sympathy, everything is back in business until the issue stirs up again the next year.
Reformist government? Time for Modi sarkar 2.0 to walk the talk
The major problem faced in the country is in the factor markets. It is time that the government came out with the law and regulations regarding land consolidation and leasing, to allow for non-exploitative contract farming.
Power sharing: Why states are failing decentralisation
The states have not cared to create institutions and systems mandated in the Constitution, including the appointment of the State Finance Commissions, and even when they are appointed, states have not found it obligatory to p
Time opportune to create a Fiscal Council to profligacy of political class
Considering the poor record of fiscal consolidation and the tendency of political parties to make unviable promises, the time is opportune for creating the Fiscal Council.
GST Council needs secretariat, with members having domain expertise to improve tax system
The critical element that helps formalisation is its input tax credit mechanism.
Hope floats: Budget’s tax revenue projections look optimistic
Budget 2019: This year’s budget has a number of initiatives which seems to impact varied sections.
The economic agenda for 2019: Focus on reforming PSU Banks and managing fiscal situation both at centre and states
The focus has to be on reforming public sector banks and on managing the fiscal situation, at the Centre as well as in states.
Union Budget: Overestimation of tax revenues results in unrealistic deficit targets
When the estimate itself is questionable, should we be unduly concerned about slippages of one or two decimal points?
RBI vs Govt tussle: Is the government right to question the Reserve Bank?
What action has been taken against govt-nominated board members for allowing banks to lend to unviable projects?
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