M Govinda Rao

Articles By M Govinda Rao

89 Articles

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

Budget 2018: Once again a missed opportunity

Budget 2018: The Budget proposes a number of interventions, but a close look at the allocations does not convince anyone that there are qualitative difference from the past.

Budget 2018: There were high expectations that the Budget 2018-19 will fast-track reforms in the small window available to the government before elections.

Agenda for 2018: Time to create a fiscal council to monitor calibration of policy

The time is opportune for creating a fiscal council to monitor the calibration of rule-based policy, that is appointed by, and reports to, Parliament.

agenda for 2018, fiscal council, calibration of policy, monitor calibration of policy, restore the economy, implementation of gst

15th Finance Commission: To realise the goals under new India 2022, here is what Centre must remember

The centre would do well to remember that Offsetting the fiscal disabilities of the states is critical to achieving and realising the goals under New India 2022

Indian economy has bottomed out, set to show gradual acceleration

The finance minister’s unveiling of the Rs 9 trillion economy-booster plan, involving the Rs 2.11 trillion recapitalisation of public sector banks and the Rs 7 trillion investments in roads and highways, has not come a day

indian economy, india economy post demonetisation, demonetisation impact on indian economy

With economy slowing, this is what Narendra Modi government must do

All the attempts at fiscal consolidation will come to nought if any attempt to provide fiscal stimulus is made by breaching the targets. The rating agencies are not likely to take kindly to any such fiscal adventurism.

slowing economy, indian economy, Narendra Modi government on economy, growth of GDP, Yashwant Sinha on economy, Yashwant Sinha on modi government, Yashwant Sinha on arun jaitley, fiscal expansion, Gross Value Added, GVA growth, growth of manufacturing, GST implementation, Kelkar Committee report on economy

Demonetisation was a self-goal? These numbers speak the truth

The government continues to claim that it has scored a goal without admitting that it is a self-goal—DeMo caused significant disruption.

demonetisation, RBI

Why lack of capacity of the state is not merely a matter of incompetence

Lack of capacity of the state is not merely a matter of incompetence. It has more to do with ‘special interest group’ politics

india growth, Gross Value Added, india economy, GDP, Insolvency and Bankruptcy Code , construction sector, health and education sectors, NITI Aayog 

Need for an independent fiscal commission

Housing the commission under the finance ministry will undermine its independence; make it answerable to Parliament only

fiscal commission, fiscal commission india, fiscal commission in india, fiscal policy, need of fiscal commission, what is fiscal commission, fiscal rule, what is fiscal rules, fiscal rules

NITI Aayog Action Agenda: Responsibility of implementing recommendations rests on Centre, states

The responsibility of implementing NITI’s recommendations lies with both the Union government as well as the states.

Niti Aayog, NITI Aayog Action Agenda, Indian macroeconomy, economic agents, Coastal Economic Zones, Indian Economy, industrialisation, development

GST: What is being proposed is a highly complicated structure, but the stage is set for implementation

What is being proposed is a highly complicated structure with four tax rates, in addition to exemption, a low rate on bullion and cesses on demerit goods.

GST, economy, CGST, IGST, UTGST, GST Bills, PAN numbers, tax administrations

Demonetisation and informal sector: Indian economy was slowing, note ban compounded problem

The growth estimates put out by the Central Statistical Organisation (CSO) in the Second Advance Estimates of National Income for the year and the third quarter estimates have raised many eyebrows.

Union Budget 2017 has done precious little to rationalise explicit subsidies

It is in allocating resources for public investment where the finance minister has been stingy. Increase in public spending on infrastructure would have helped to crowd in private investment.

Not Finance Commission, it is Union govt that decides transfers to states

It is not the Finance Commission, but the Union government that determines the transfers to the states

Budget 2017: Economic revival depends critically on hike in spend on infrastructure

The govt will have to tread carefully between wiping the tears of disruption that demonetisation caused and kick-starting the revival of economic activity

Union Budget, demonetisation, income tax, corporate tax, consumption, investment, Assocham, Sunil Kanoria, remonetisation, MSMEs, State Bank of India

Due to demonetisation, forecasting budget numbers will be a challenge; here’s why

Although the developments during the first seven months of the fiscal year are similar to the situation that prevailed in earlier years.

Indian Economy, Union Budget, Demonetisation, GDP growth, FRBM Committee

Demonetisation: If Centre serious on black money, it should target political funding

The announcement by the prime minister on November 8, that currency notes with face-value of R500 and R1,000 will no longer be valid sent shock-waves.

Income Tax Calculator, Budget 2019, How to Calculate Income Tax


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