Category

Economy

Category

This was expected! In the last many years, the Government of India has taken advantage of falling Oil prices by continuously increasing excise duty, helping its coffers. It is conventional wisdom that taxes once raised will never come down, as subsequent budgets use it as the baseline for their revenue planning. Given the “said to be” poor tax collections due to slowed economy, this excise-duty hike was expected. Yet, I feel this is the time for Government to slash the taxes, spur the spending, and boost the economy which is starting to feel the added pain of Coronavirus as well.…

I find it ironical! The general public and the politicians at large in India say they want to see farmers of our country grow and prosper, and, Government should protect their livelihood, give cash handouts, and, concessions. At the same time, the media screams whenever price increases for any of the farm produce. The recent one being the ill-famed (thanks to the untimely comment of Hon’ble Finance Minister) Onion price rise. I see basic economics at work here – of supply, demand and elastic pricing of a free market. Hold your horses about hoarding, middlemen making the bulk of the…

Recently there was a news item on the Income Tax Officers Union are unhappy with the Government of India’s plan to bring in faceless tax assessments, which is being planned to reduce direct contact between the officers and the assessee…