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Budget 2020 is now useless. Modi govt must present a new one

Covid has ensured Modi govt won’t meet 20% growth in tax collection target. That would be a terrible assumption to make in a pandemic-hit economy.
A server room in a data centre | Representational Image | Commons

Incentives and infrastructure — what govt can do to boost data centres in India

The Centre plans to make India a $1 trillion digital economy by 2025, which will attract countries wanting to set up data centres in India.
File image of Finance Minister Nirmala Sitharaman in the Lok Sabha | Photo: Lok Sabha TV/PTI

Relief for India’s overseas students, govt cuts 5% ‘tax at source’ Budget proposal to 0.5%

Among amendments to the Finance Bill moved by Nirmala Sitharaman, the govt has clarified that NRIs will only be taxed on income they earn in India.
Union Finance minister Nirmala Sitharaman at Income Tax Day event in New Delhi | Suraj Singh Bisht | ThePrint

I-T cases being arbitrated abroad will be eligible under proposed ‘Vivad se Vishwas’ scheme

The I-T department in advertisements in leading dailies said that appeals and writs filed on or before January 31 this year will be allowed to be taken up by it.
Narendra Modi

Facing a fiscal crisis for long, Modi govt now seems to be pushing states into a crisis too

Either Modi govt is expecting a revenue windfall that will be passed on to states, or states will be squeezed even further. My guess is it will be the latter.
LIC headquarters in Mumbai

How the LIC mega IPO can also help reform India’s larger financial sector

If done right, IPO can bring transparency & efficiency to LIC, ensure govt doesn’t force it to buy weak PSUs, and improve resource allocation in the economy.
Prime Minister Narendra Modi with US President Donald Trump during the ‘Howdy! Modi’ event in Texas last year | Photo: Scott Dalton | Bloomberg

Sanjaya Baru on altered India-US relations, Ruchir Sharma & Sandipan Deb go to the Oscars

Today’s political, economic & strategic punditry from Sanjaya Baru, Ashok Gulati, Ruchir Sharma, Tamal Bandopadhyay, Prabha Kotiswaran & many others.
RBI governor Shaktikanta Das | Praveen Jain/ThePrint

Budget proposals unlikely to have inflationary impact, says RBI Governor

Das says that the government has tried to remain within the fiscal deficit roadmap set under the Fiscal Responsibility and Budget Management Act.
MNS Rally in Mumbai

BMC’s ‘blatant oversight’ that has Raj Thackeray’s MNS riled up

Pre-Truth — snappy, witty and significant snippets from the world of politics and government.
Finance Minister Nirmala Sitharaman | Photo: Suraj Singh Bisht | ThePrint

To meet fiscal deficit target, Sitharaman’s Budget leaves out some expenditure

Govt has provided Rs 30,000 cr as against Rs 74,340 cr proposed by 15th finance commission, towards revenue deficit grants to states & has made no allocation for bank recapitalisation.  

On Camera

Modi govt must consider auctioning loss-making Coal India mines too: Naveen Jindal

India must become ‘Atma Nirbhar’ in coal production. If govt auctions CIL’s loss-making mines, pvt sector can ensure the national exchequer adequately gains.
The logo of Reliance Jio, the mobile network of Reliance Industries Ltd., is displayed at a store in Mumbai, India. | Photographer: Dhiraj Singh | Bloomberg

Google is in advanced talks to invest $4 billion in Jio Platforms

Google would join Facebook & slew of PE firms piling into Mukesh Ambani’s venture, which has already attracted nearly $16 billion of investments since April.

Defence

A file photo of Pangong Lake in Ladakh | Visharad Saxena | Special arrangement

India-China corps commanders talks today to focus on Pangong, to be toughest round yet

India and China have serious differences at Pangong and Depsang Plains, even though they have moved ahead with disengagement at other points of conflict along LAC.
Illustration by Soham Sen | ThePrint

Uttar Pradesh is India’s broken heartland, break it into 4 or 5 states

Uttar Pradesh, our largest state by population and most powerful, is also the worst governed. A state with 1-in-6 Indians has no hope because of its size.