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?
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.
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.
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
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.
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.
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