Most states, it appears, would not be able to exercise benefits of the extra fiscal borrowing space the Centre is providing, as it is likely going to be a tightrope for them, considering the conditions they need to fulfill.
Setting aside retirement fund body EPFO trustees' decision, the Finance Ministry lowered interest rate on PF deposits to 8.7 per cent for 2015-16, evoking strong protest from trade unions that dubbed the move as 'anti-labour'.
The mandate of U-WIN or the unorganised workers’ identification number criss-crosses with that of Aadhaar’s and would lead to unnecessary duplication of work already being done under the ambit of the latter project, say govt sources.
Revenue Secretary Hasmukh Adhia has sent a terse missive to the Central Board of Direct Taxes chairman Atulesh Jindal seeking an explanation for a likely shortfall in direct tax collections in 2015-16. This comes after the government had sharply lowered its direct tax target for 2015-16 by Rs 45,974 crore in the Union Budget last […]
Despite the government sticking to its fiscal deficit target of 3.5 per cent and maintaining the gross borrowing at Rs 6 lakh crore for the next financial year, interest payments on public debt are estimated to rise in 2016-17.
The Centre has decided to lower the maximum penalty rates to reduce the high rate of tax litigation, but experts feel that discretion of assessing officer is one of the important areas that go unattended.
With the NOFN rollout facing hurdles, especially right-of-way issues, the idea of states implementing their share has been welcomed by the Centre, and has the ability to speed up the ambitious project.