M Govinda Rao

Articles By M Govinda Rao

78 Articles

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.

instant money, quick loan, money lending, money borrowing, nbfc, p2p lenders, unsecured loans, low interest rate,

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

For example, in FY19, the revised estimate of central tax revenues was taken at Rs 22.48 lakh crore even as the actual collections reported by the Controller General of Accounts for the year was Rs 20.8 lakh crore.

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

IMF, IMF report, monetary policy, economic slowdown, GST, Goods and Services Tax,  Insolvency and Bankruptcy Code, IBC, FDI , PM Kisan

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

GST reform, GST revenue, GST implementation GST departments, GSTR-3B, Consumer Price Index, GST allocation, GSTR-2

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.

GST, Customs, Excise, CBDT, CBIC, CBEC

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

Indian economy, economic slowdown, niti aayog, automotive industry, non performing assets, Auto loans,GST collections, Economic Advisory Council , global economic crisis

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)

Jammu and Kashmir News Section 144 imposed in Srinagar; Mufti, Abdullah

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.

Encephalitis deaths, Acute Encephalitis Syndrome, AES, Muzaffarpur, bihar

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.

PM Modi, Modi Maldives tour, Modi Maldives award, Modi in Maldives

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.

Budget 2019, Budget 2019 tax revenue, Swatch Bharat Mission, Ayushman Bharat, PM-KISAN, GST implementation, SME

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?

RBI Monetary policy review: Why central bank should hold rates, if not raise it by 25 bps

The estimates of GDP and GVA growth for the first quarter of 2018-19 at 8.2% and 8%, respectively, have raised hopes of economic revival.

Why the situation does not look very optimistic on the fiscal front

Karnataka’s loan waiver proposal is expected to cost an additional Rs 40,000 crore. Kerala will need substantial spending for addressing flood damage.

GST rates: A year from rollout, GST’s roots get firmer

GSTN promised much but delivered little. Unless the system of matching invoices to confirm input tax credit is in place, the system will remain prone to abuse.

Banking reform: Fragile financial sector needs credible corrective action

The industry-wise build-up of GNPA and stressed advances underlines the urgency of policy reform to ensure that the SCBs are not made to lend for long-term investments.

rbi, banking sector, banking industry

NDA II Performance: 4 years of Modinomics – Good in parts?

Undoubtedly, in terms of growth and inflation indicators, the performance of the economy has been much better than the previous five years under the UPA rule.

NDA II performance, modinomics 4 years, 4 years of modi govt

Finance Commission: Redefining the federal fiscal landscape?

The directive to use the population figures of 2011 was not the only issue that prompted the finance ministers of southern states to come together on a platform on April 10 in Thiruvananthapuram; there were many more contenti

Finance Commission, Tamil Nadu, NK Singh, O Pannerselvam, 15th Finance Commission

GST: Need to revisit the complex system

The GST Council should move expeditiously to simplify the GST structure as well as its administrative details before it is too late.

gst, gst council, tax

Tax abuse by MNCs: Need to go beyond OECD solutions

The way forward to minimise BEPS is not to treat multinational enterprises and their affiliates as independent entities, but to deal with them as unitary entities and consolidate their profits to determine the tax base.

Tax abuse by MNCs, insurance, life insurance
Income Tax Calculator, Budget 2019, How to Calculate Income Tax


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