Ishaan Gera
Flavour of department has changed from enforcement to taxpayer centric: CBDT chairman
The central board of direct taxes has become more focused on the taxpayer rather than enforcement, said Ravi Agrawal, CBDT chairman, at the Confederation of Indian Industry session on July 26.“The flavour of the department has changed from being an enforc...
2 months ago
India has high tax-to-GDP ratio given its per capita income: Revenue secretary
India may have a lower tax base, but its tax-to-GDP is much higher compared to its peers, Sanjay Malhotra, secretary, department of revenue, ministry of finance, said at a Confederation of Indian Industry session on July 26.“The tax-to-GDP, given the leve...
2 months ago
Core inflation decline may not be such a good thing: Economists
The finance minister in her Budget speech highlighted that core inflation in India has declined to 3.1 percent, but economists highlight that falling core may not be such a good thing for the economy.India’s services inflation declined 2.67 percent in Jun...
2 months ago
Mineral royalty revenue jumps 32% for states during FY17 to FY22
The Supreme Court, on July 26, granted states the power to levy taxes on mineral rights, contending that royalty is a contractual consideration, opening the doors for the states to earn more revenues from mining operations.A Moneycontrol analysis of data...
2 months ago
Southern states show the way on growth and poverty reduction
PM Narendra Modi, on July 27, called for states to set zero poverty targets as a priority for Viksit Bharat by 2047.A MC analysis of poverty reduction across states shows that high-growth states made significant gains in poverty reduction.Even as half of...
2 months ago
How many Agniveers can states absorb amid 600,000 police vacancies?
Taking a cue from the Centre, which announced a 10 percent reservation for Agniveers in central armed police forces and paramilitary forces, ten states have since announced a quota for Agniveers in their respective forces.Agniveers are recruits hired for...
2 months ago
Capex now top priority for the government: MC Analysis
While India has upped its spend on building roads and highways to 3.4 percent of GDP in FY25 from 1.7 percent in FY14, its spending on education has been on a decline. Education spending as a share of GDP is set to decline to 0.37 percent in FY25, from 0....
2 months ago
Fiscal deficit narrows to 8.1 percent of the full year estimate in Q1FY25
Centre’s fiscal deficit narrowed to 8.1 percent of the full year estimate in the first quarter of the year, compared with 25.3 percent during similar period last year, government data released on July 31 showed.The fiscal deficit had narrowed to 3 percent...
2 months ago
Economic Survey’s 7.9 million non-farm jobs target is easily achievable: MC Analysis
The Economic Survey's target of creating 7.9 million non-farm jobs a year until 2030 may not be that audacious, as the country created nearly 10 million jobs in non-farm sector, excluding construction, in FY23, a Moneycontrol analysis shows.Job creation i...
2 months ago
Core sector output eases to 4% in June; Q1FY25 growth lower at 5.7%
India’s core sector growth eased to 20-month low of 4 percent in June, from 6.4 percent in the previous month, as five of the eight industries witnessed a slowdown in growth from the previous month.The first quarter growth was also lower at 5.7 percent co...
2 months ago
Manufacturing activity eases to 58.1 in July, experts foresee pickup capex utilisation soon
Manufacturing activity eased to 58.1 in July from 58.3 a month back, results of a private survey released on August 1 showed.The seasonally adjusted HSBC India Manufacturing Purchasing Managers’ Index remained higher than the long-term average for yet ano...
2 months ago
UPI transaction value stays above Rs 20 lakh crore for 3rd straight month in July
UPI transaction value stayed above Rs 20 lakh crore for the third month in a row in July, according to data released by the National Payments Corporation of India on August 1.The total value of transactions using the digital payment service rose to Rs 20....
2 months ago
Economy momentum continues in July with some mixed signals
The Indian economy continued its momentum at the start of the second quarter, with high frequency data released on August 1 throwing some mixed signals.Gross GST collections rose 10.3 percent to a three-month high of Rs 1.82 lakh crore compared with Rs 1....
2 months ago
India needs 3i strategy to avoid middle income trap; will take 75 years to reach a quarter of US per capita income: World Bank report
India, China and 106 other countries need to follow a 3i approach that focuses on investment, innovation and infusion of new technologies to escape the middle income trap, said World Bank in a report released on August 1.The report noted that at current p...
2 months ago