Finance commission chairman NK Singh also pitched for a rationalisation in Centrally- sponsored schemes, and blamed the government for not clearly defining the role of the Niti Aayog, which as of now does not have any powers to take financial decisions. The comments come amidst concerns about the continuous fall in GST collection.
"It is not only the government, it is also the industry which also has to play an important role. In GST, we are seeing a lot of fake invoicing and it is from business to business," Thakur said at the annual session of Consumer Electronics and Appliances Manufacturers Association.
The veteran policy advisor said that though GST was introduced in a record time, the next level would be to simplify the structure and minimise the cost compliance.
Ministry of rural development currently revises the unskilled wage rate under the Mahatma Gandhi National Rural Employment Guarantee Scheme based on consumer price index for agricultural labour (CPI-AL) every year for all states/UTs. Besides, the wages are calculated using December month index only.
The Hyderabad-based firm has been providing the subsidy management system to the Telangana government for the last two years and is now in talks with other state governments as well. The solution uses Aadhaar data to verify a person’s identity before he/she can avail a specific government service, or subsidy, thereby eliminating fake or bogus entries.
Karnataka, Maharashtra & Haryana are part of an ambitious initiative to carry out a drone survey across India to create high-resolution digital maps. The Survey of India, the country’s oldest scientific agency, has been tasked with doing this. Haryana has achieved much progress, while Maharashtra has limited the survey to only villages in the first phase.
While there is always room for improvement, a lot has been achieved through these reforms under MGNREGS.
The government informed the Parliament that the Comprehensive Integrated Skill Development Scheme(ISDS) covered 33 states and Union Territories of the country, widely covering all sections of the society such as women(71.27%), Scheduled Caste(20.82%), Schedule Tribes (6.9%) and Divyang Jan (0.28%) in various segments of textiles.
The Union cabinet approved the Industrial Relations Code, 2019 that proposes to retain the threshold of 100 employees to impart flexibility to firms for retrenchment, but it has a provision for changing ‘such number of employees’ through notification. Trade unions across the country resent the Code and plan to launch a nationwide agitation.
The government spends nearly Rs 15,000 crore every year on skilling through different schemes spread across 20 different ministries. This is topped up with matching contribution from states, taking the total spend to Rs 30,000 crore annually. Hence it is planning to set up a fund pool for skill related schemes.
Companies have been under scrutiny from indirect tax offices as far apart as Kolhapur, Rajahmundry, Vijaywada, Mysore and Mangalore. Now, several financial services companies have started receiving written enquiries from tax officers based in small towns seeking details around organisational structures, revenues and Goods and Services Tax (GST) paid.
The government’s role in accelerating growth was to lift controls and restriction on entrepreneurs, and give them greater freedom to operate.
The economists and academicians who issued the statement, include A Vaidyanathan and Abhijit Sen (former members of erstwhile Planning Commission), Biswajit Dhar (JNU), Dilip Mookherjee (Boston University), Maitreesh Ghatak (LSE), Prabhat Patnaik (Emeritus Professor, JNU), and Thomas Piketty (Paris School of Economics).
The Union Cabinet on Wednesday decided to sell its entire stake in three enterprises and bring down stake below 51 per cent in select PSUs.
India has jumped 14 places to 63rd in the World Bank’s annual rankings for ease of doing business, rolled back a levy on foreign funds, injected $10 billion into sick banks and relaxed foreign direct investment rules in coal mining, contract manufacturing and single-brand retail trading.
The decision to set up a unified regulatory body to supervise the activities of financial services providers in the International Financial Services Centre will add to the ease of doing business for firms that set up a base in IFSC and Ficci welcomes this single window facilitation, Ficci President Sandip Somany said in a statement.
Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service