GST Rollout: Eye on Political Gains?

It has often been estimated that what is known, as the black economy is about 70-80% the official economy. This simply means that something to the extent of about Rs.90-100 lakh crores escapes the tax net. If this is captured India’s Tax/GDP ratio will just about double and the government will have twice the budget to spend on development. In theory at least. There are two big cash streams to the growing pool of the black economy. One is the more commonly commented one, which is by income

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Reforming The Bureaucracy

When Manmohan Singh first became Prime Minister he declared that the topmost priority of his government was to reform the bureaucracy. Narendra Modi said exactly the same thing when he became Prime Minister. We are still waiting. India pays the price for their inability or unwillingness to seize the bull by its horns. The total annual outlay of the Central and various State governments in 2014-15 was Rs.38,15,095 crores. The sum of the direct and indirect taxes collected by the Centre and the S

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Jammu And Kashmir: Time To Break-Up The Fiction

Kashmir is the northernmost geographical region of South Asia. Until the mid-19th century, the term "Kashmir" denoted only the valley between the Great Himalayas and the Pir Panjal mountain range. The name Kashmir derives from the Sanskrit Kashyapmeru. The Greeks knew it as Kaspeiria. Herodotus called it Kaspatyros. Emperor Ashoka, who called it Shrinagari, founded the capital near present day Srinagar. The ruins of this Ashokan city still stand. Kashmir evolved with a strong Buddhist

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Raghuram Rajan Goes-No Country For Good Men

Raghuram Rajan will not be either getting another term or will not be accepting another term as RBI Governor. India will have to get a new RBI Governor from September 4 when Rajan will return to Chicago University to resume as a tenured professor in the University of Chicago's vaunted economics department. India's loss will be Chicago's gain. It will be difficult to replace him with another person of acumen, personality, experience, accomplishment and world stature. Most of our prev

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