Both the government and the RBI are currently so focused on their respective targets that they are losing sight of the fact that some flexibility might actually be a good thing.
The tax officials will, of course, have a better understanding of what the revenue implications will be. But let them at least start thinking about expanding the definition.
India needs to figure out what kind of global player it wants to be while remaining uncompromising on its interests—hard-nosed and difficult, or cooperative and collaborative.
Income tax is such a steady and reliable revenue stream, and an increasingly vital one, that the government simply cannot afford to do anything that would curtail it.
PM Modi has sought to incentivise manufacturing in India through PLI schemes, but the components have come mainly from China, with Indian companies only engaged in assembling.
Oil prices are nearly 40% lower than they were in June 2022, when fuel prices were effectively frozen; yet, consumers have not benefited from this decrease.
There is a difference between protecting an investor from unscrupulous external action, and protecting them from themselves. The former is necessary, but the latter should be avoided.
The collusion between the new class of bureaucrats, politicians, businessmen and trade union bosses perpetuates itself partly because of the short-run benefits and partly because they see no way out of the system, wrote author MH Mody in 1980.
IAF is firming up plans to revamp airlift capabilities with medium transport aircraft that will be assembled in India & serve as its main workhorse. Embraer is leading contender as of now.
After independence, every system of Governance has changed, except the bureaucracy. Which still presumes themselves as the rulers, not the servants, and enjoys the known and unknown perks and benefits of society.
If I become the PM, I will slap every bureaucrat 10 times for each third-rate socialist policy he or she makes. I will disband the UPSC and establish union capitalist service commission (UCSC).
You have recently been critical of government despite being close aide of finance minister for 3 years.Like last week you critised it for using rhetoric ‘India is sweet spot in global turbulence, It is fastest growing big economy or it is bright spot.I hope there are more journalist looking closely at economy like you.
Well written article as always and with great examples. As much as I am a supporter of this government, I am afraid that they have been tamed by bureaucracy and Nirmala Sithraman is a prime example of this. Zero innovation and completely House Trained.
Modi’s ministers can perhaps learn from Nitin Gadkari on how he turned around, perhaps the most corrupt dept into one of the most productive ones.
But Nirmala has not time as she ponders over the GST debate on Popcorn and Donuts
Good One
After independence, every system of Governance has changed, except the bureaucracy. Which still presumes themselves as the rulers, not the servants, and enjoys the known and unknown perks and benefits of society.
If I become the PM, I will slap every bureaucrat 10 times for each third-rate socialist policy he or she makes. I will disband the UPSC and establish union capitalist service commission (UCSC).
I wouldn’t blame them at all. They have no agency.
Sir,
You have recently been critical of government despite being close aide of finance minister for 3 years.Like last week you critised it for using rhetoric ‘India is sweet spot in global turbulence, It is fastest growing big economy or it is bright spot.I hope there are more journalist looking closely at economy like you.
Well written article as always and with great examples. As much as I am a supporter of this government, I am afraid that they have been tamed by bureaucracy and Nirmala Sithraman is a prime example of this. Zero innovation and completely House Trained.
Modi’s ministers can perhaps learn from Nitin Gadkari on how he turned around, perhaps the most corrupt dept into one of the most productive ones.
But Nirmala has not time as she ponders over the GST debate on Popcorn and Donuts