Chanakya, philosopher, economist, jurist and royal advisor, writes in arth shastra rulers need to tax judiciously to mobilise revenues and deployed it for socio-economic development. This dictum is relevant for today’s India in more than one ways. Lower tax rates invariably lead to higher compliance and better revenue growth.
In a situation when several online commerce companies have gone bonkers with deep discounts, cash-back plans, freebies and a variety of inducements to get customers across the country enrolled, e-tailers will have to behave and self-regulate or come under the government prescribed regulatory regime.
The finance minister’s assertion that Indian economy can surpass 8 per cent growth rate has not surprised many. Like all governments, this regime too is trying to paint a lively picture of economy as LS elections are just around the corner.
With Ranil Wickremesinghe’s swearing in as Sri Lanka’s prime minister on Sunday the seven-week-long political crisis in the neighbouring Sri Lanka has come to an end. Wickremesinghe made a remarkable comeback weeks after being ousted by president Maithripala Sirisena under controversial circumstances.
The Supreme Court’s verdict in the Rafale deal has come as a shot in the arm for the Narendra Modi government that faced a perception battle on the issue. The outright rejection of all four sets of petitions filed by Yashwant Sinha, Arun Shourie, Prashant Bhushan and AAP MP Sanjay Singh should be a big relief for the ruling NDA.
The belligerence of treasury benches and opposition parties should not lead to a washout of the winter session of Parliament. If the trend of the last three days of Parliament is any indication, this session could come a cropper.
From the exalted heights of famed economists who have headed Mint Street, after a gap of 28 years a pure play bureaucrat Shaktikanta Das, an IAS officer of Tamil Nadu cadre, was named as the new RBI governor on Tuesday evening. By the following day, he had addressed the media disengaging himself from the reclusive and media shy tenure of his predecessor Urjit Patel.
The BJP’s rout in its strongholds of Chhattisgarh, Rajasthan and the seesaw fight in Madhya Pradesh has a significant lesson for the saffronites. By voting against the Congress in Mizoram and Telangana, where regional parties Mizo National Front (MNF) and Telangana Rashtra Samiti (TRS) respectively have won, the electorate has sent out its own message.
For the last two months it was been speculated that differences between the RBI governor and policy makers in Delhi on crucial issues like utilisation of excess reserves and use of section (7) would force Dr Urjit Patel to resign. Given the fact that despite many governors having differences with governments of the time, only one governor had taken a similar step.
DEMOCRACY is a great leveller. However well trenched a political party might be, the voter can turn the tables on it. Legislative assembly elections in five states – Madhya Pradesh, Rajasthan, Chhattisgarh, Telangana and Mizoram – could well prove this true.