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Finance panel chief NK Singh blasts frequent tinkering with GST rates

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.

Government raises concern over fake invoicing in B2B trade impacting GST collections

"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.

NK Singh calls for further simplification of the GST structure

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.

MGNREGA may get linked with CPI-R

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.

After Telangana, Uttar Pradesh uses this code to track subsidies

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.

Technology topography: Mapping India through drones

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.

The seven reforms that made MGNREGS more useful

While there is always room for improvement, a lot has been achieved through these reforms under MGNREGS.

11 lakh people get training under ISDS

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.

Unions to protest against industrial relations code

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.

Panel working on single fund for all skill related schemes: Pandey

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.

GST calls from small town tax officers spook financial services companies

GST calls from small town tax officers spook financial services companies

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.

View: A pro-markets worldview seems absent in BJP government’s policy prescriptions

View: A pro-markets worldview seems absent in BJP government’s policy prescriptions

The government’s role in accelerating growth was to lift controls and restriction on entrepreneurs, and give them greater freedom to operate.

Over 200 economists, academicians ask government to release NSSO data, reports

Over 200 economists, academicians ask government to release NSSO data, reports

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).

Going for more professionalism in PSUs via equity dilution: Dharmendra Pradhan

Going for more professionalism in PSUs via equity dilution: Dharmendra Pradhan

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.

Government brings India’s economy into focus amid privatization push

Government brings India’s economy into focus amid privatization push

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.

Stake sale in BPCL, SCI, Concor to strengthen firms, bring in fresh investments: Ficci

Stake sale in BPCL, SCI, Concor to strengthen firms, bring in fresh investments: Ficci

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.

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