Aanchal Magazine

Articles By Aanchal Magazine

IIP: how this index is calculated, and what it says about factory output

The all-India IIP provides a single representative figure to measure the general level of industrial activity in the economy on a monthly basis.

Ahead of general elections, more off-budget deficit financing likely

Disinvestment target to be met, but mostly through buybacks of shares by public sector units

10 per cent quota: Pool of jobs in govt, banks shrinking steadily

The latest data compiled by the Department of Personnel and Training (DoPT) on recruitment over the last three years through the main agencies show a declining trend in selection and recruitment, from 1,13,524 cumulatively in FY2015 to 1,00,933 in FY2017.

GST exemption limit doubled to give relief to small businesses

States, however, will have the option to choose between the two exemption thresholds of Rs 20 lakh and Rs 40 lakh and will have to intimate their decision within a week.

Compliance woes, evasion under GST force taxman to rework monitoring methods

With the sliding compliance rates becoming a concern under GST, the taxmen are now looking at the scope of monitoring radio frequency identification device (RFID) tags nationwide along with the existing e-way bill system, three senior government officials said.

On the table: Lower GST for homes, MSME relief

The six-member ministerial panel formed to look into issues being faced by MSMEs under GST will meet before the Council meeting on January 6 to finalise its recommendations, a government official said.

Slackening of demand indicators weakens India’s growth impetus

Farmers getting lower prices for their produce, much lower than the minimum support prices announced by the government for the kharif crops this year, has hit the rural consumption demand story.

New wage code gets on track, three other labour codes under consultation

The Bill, which was introduced in Lok Sabha in August last year, proposes a national level minimum wage that will be applicable to all employments in organised and unorganised sectors.

Panel suggests consultation with states for fixing minimum wages

The Bill, tabled in Lok Sabha in August 2017 and subsequently referred to the Standing Committee, will provide for minimum wage applicable to all employments covering organised as well as unorganised sectors.

Arun Jaitley: Looking at single standard rate between 12 and 18 per cent

Jaitley, in a Facebook post, criticised the Congress legacy of 31 per cent indirect tax, terming the pre-GST regime as the “worst indirect tax” system in which 17 taxes were levied with the standard rate at 31 per cent.

GST focus now shifts to simplifying norms, rate rationalisation

Further rate rationalisation, especially for the beleaguered construction sector, including a rate cut on cement and under-construction properties, are in the offing in January, just before the country will head towards the general elections.

GST Council cuts more rates, only 28 items now left in highest slab

The move which will cost the exchequer around Rs 5,500 crore a year and Rs 1,375 crore in the remaining three months of this fiscal.

Simply Put: This back series, that back series

In new GDP back series data, average growth during UPA regime is down from previous estimates while growth during NDA is pegged higher than during UPA. Why do findings differ from one report to another?

Centre eyes excise duty hike as global crude price slips to $60/barrel

A rupee per litre cut in excise duty leads to a revenue loss of about Rs 14,000 crore a year to the Centre. Any hike in excise duty on petroleum products, however, would mean full transition to consumers in terms of higher retail prices.

EPFO: 9.73 lakh new members in September; rest 12 months’ data revised down

With the series of revisions, the enrolment numbers for September 2017-March 2018 now stand at 29.77 lakh, 24.4 per cent lower than the first estimate of 39.35 lakh (as per government release dated May 25).

Revenue collections: Just two out of 21 central GST zones post gain in Apr-Sept

When compared to the full year’s GST target from domestic supplies, the Centre’s mop-up has been 4.5 per cent short of the total target, while states are lagging by 4.8 per cent.

GST mop-up crosses Rs 1 lakh crore in October: Higher detection of evasion, recoveries possible triggers

In July 2017-March 2018, DGGSTI had recovered Rs 235 crore which was about 27 per cent recovery from detection of Rs 878 crore in 176 cases.

Chief Statistician of India: ‘EPFO data should be seen as proxy for formalisation, not employment creation’

Srivastava attributed the recent revisions in EPFO enrollment data to the attritions getting reported with a lag, adding that they never “talked about job creation” and that EPFO data should be instead seen as a proxy for formalisation.

7th economic census, three new surveys, national-level data warehouse on the anvil: MoSPI

While the back series of GDP is expected to be released this month, a national-level data warehouse for all official statistics from MoSPI and administrative schemes is expected to be prepared within next six months.

Wind up withdrawal of cases by this month-end: CBIC to officials

2,767 indirect tax cases remain to be withdrawn in CESTAT, HCs & SC as on Oct 15