India has a large vertical fiscal gap, which has been increasing. The reason is that while the Constitution assigns the most buoyant taxation powers to the Union, it allocates more spending responsibilities to the states.
Former PM-EAC member Bhalla and ex-CBDT member Arbind Modi exchanged views on India's taxation efficiency, impact of tax cuts and growth potential at CSEP seminar.
While Congress has distanced itself from its overseas wing chief Sam Pitroda's apparent support for inheritance tax, BJP, including PM Modi, has launch scathing attacks over the issue.
Karnataka CM Siddaramaiah said MLAs & MPs will protest in Delhi tomorrow against the allegedly reduced tax devolution & grants Centre was transferring to states, including to Karnataka.
Responding to PM Modi’s comments on Uniform Civil Code, Owaisi said HUFs provide tax relief to Hindus. But it has significant downsides, such as being prone to family squabbles.
Finance Minister Nirmala Sitharaman says progress made on various issues like regulation of crypto assets, restructuring of debt & taxation frameworks, but these are 'possible takeaways'.
While tax has proved Nirmala Sitharaman’s strong suit, there have been policy negatives as well, including under-performance on privatisation and failure to fix banking mess.
In Episode 1544 of CutTheClutter, Editor-in-Chief Shekhar Gupta looks at some top economists pointing to the pitfalls of ‘currency nationalism’ with data from 1991 to 2004.
Among 19 Indian firms sanctioned by US Treasury Dept was Lokesh Machines Ltd accused of coordinating with 'Russian defence procurement agent to import Italy-origin CNC machines'.
While we talk much about our military, we don’t put our national wallet where our mouth is. Nobody is saying we should double our defence spending, but current declining trend must be reversed.
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