Editors Column

Reworking direct tax laws is not a bad idea given that all indirect taxes have been consolidated under  goods and services tax (GST). And setting up a seven-member panel headed by Arbind Modi might have been the first step towards reforming the Income Tax Act of 1961.

Under pressure from the catalogue of voluble surround sound, government seems to have succumbed to slapping a blanket ban on promoters to bid for stressed assets under the Insolvency and Bankruptcy Code (IBC). By bringing an ordinance to bear on this issue, the die appears to have been cast, the oxygen cut of for alleged willful defaulters.

Bringing every real estate transactions, including the sale and purchase of land, under the Goods and Services Tax (GST) is a big idea that needs to be worked upon by the GST Council, as this move can make several things possible.

While it is true that the growth rate of Indian economy has bottomed out at 5.7 per cent, going forward it is likely to improve now that the disruption caused by GST and demonetisation has already begun to disappear, much earlier than anticipated.

Once constituted, National Anti-profiteering Authority (NAA) will have to begin its work in earnest to check huge profiteering resorted to by several unscrupulous providers of goods and services under the GST regime.

Upgrade in sovereign ratings to Baa2 from Baa3 by Moody’s is a shot in the arm for the Narendra Modi government that has been at the receiving end of serious flak from several quarters for the recent economic slowdown. Given that the upgrade has come after nearly 14 years, it is a testimony to the confidence reposed by foreign and domestic investors community alike in the Indian economy.

THE OLD bogey of growth versus meeting fiscal deficit targets is back in the run up to the BJP’s last full budget. Balancing economic fundamentals and macro-economic parameters, including fiscal deficit, is a consistent and continuous exercise which requires fiscal prudence.

Narendra Modi government’s decision to advance the rolling out of relatively more environment friendly Euro VI compliant fuels by two years will make the national capital region a better place to live.

There’s lot of frenzied hype whipped up around the meeting between prime minister Narendra Modi and the US president Donald Trump in Manila in the Philippines on Monday. Foreign secretary Subramaniam Jayshankar and White House statements after the Modi-Trump meeting have taken the atmospherics to a new level.

India is in the midst of a huge technology revolution as digitisation takes root across the economic vector, turning the country into a global player given the explosive growth in smartphone shipments, huge upswing in high value data services and growing competition among equipment suppliers and services providers.

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