In an unusual and ill-advised move, the Reserve Bank of India issued a brief ‘clarification’ on October 1st which said: “There are rumours in some locations about certain banks including cooperative banks, resulting in anxiety among the depositors. RBI would…
The Indian government should now be desperate to raise more tax revenues. It missed its tax targets massively in the last fiscal year, largely because of poor goods and services tax (GST) collections. Its declared budgetary target for the current…
It is only too evident that the Modi government is a strongly centralising one in many ways – and this is also clear from various fiscal moves. In 2015, it accepted the recommendation of the 14th Finance Commission to increase…
The Modi government has an unerring instinct for bungling in economic matters. It has come out with a “fiscal stimulus” for tackling the current economic slowdown that will actually make matters worse. After successive interest rate cuts which were predictably…
The reduction in the corporate tax rate by the BJP government, which would entail a transfer of Rs.1.45 lakh crores from the public exchequer to the corporate sector, has been generally seen to be insufficient for overcoming the slowdown in…
That the Indian economy is currently experiencing a slowdown is more than evident, both with the deliberations in different private circles and with official statements signalling a series of remedial measures , mostly focussed on the ailing financial sector! However, as…
The government has finally admitted that the Indian economy is on a steep downturn. For some time now, even the business community, which tends to shower all praise and disapprove any criticism of the reformist Modi dispensation, has expressed concern…
On August 30, as the media waited for the release of the second quarter growth figures that would reveal severe growth deceleration, Finance Minister Nirmala Sitharaman sought to pre-empt any adverse response with a major policy announcement. Ten public sector…
There is no longer any room for doubt on the parlous state of the Indian economy. The automobile industry, seen as a bellwether of activity in the post-liberalisation years, is in crisis, as automakers, parts manufacturers and dealers have laid…
Two years after its implementation, the extent to which the Goods and Services Tax (GST) regime is an improvement upon the earlier system of multiple excise and sales taxes remains unclear. As of now, there are several worrying trends. The…
