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Topic: Budget 2020
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.
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.
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.
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.
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.
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.
Today’s political, economic & strategic punditry from Sanjaya Baru, Ashok Gulati, Ruchir Sharma, Tamal Bandopadhyay, Prabha Kotiswaran & many others.
Das says that the government has tried to remain within the fiscal deficit roadmap set under the Fiscal Responsibility and Budget Management Act.
Pre-Truth — snappy, witty and significant snippets from the world of politics and government.
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.