Author: ForumIAS

Tax litigation taking toll on economy Context Less is more said the Economic Survey released on Monday when it comes to appeals by the income tax department for both direct and indirect tax cases. Income Tax Department is the biggest litigant but loses 85% of cases, says Survey Faced with a success rate that is… Continue reading Tax litigation taking toll on economy

Eliminate embedded taxes to boost exports Context The Economic Survey has suggested that the Goods and Services Tax (GST) Council should comprehensively review ‘embedded taxes’ and expeditiously eliminate the embedded export taxes to boost India’s manufacturing exports. Survey moots thorough review of taxes from products left outside the ambit of GST, and from within The Economic… Continue reading Eliminate embedded taxes to boost exports

SMEs hold key to revive investments Context The current episode of investment slowdown is ongoing, and one that is impacting growth, and therefore investment revival needs to be prioritised urgently to arrest more lasting impact on growth Measures to regain growth To help India regain growth, the Survey suggested that the measures, that need to… Continue reading SMEs hold key to revive investments

CEA: Time to change monetary stance Context Chief Economic Adviser Arvind Subramanian on Monday acknowledged that the country’s monetary authorities may have little choice now but to adopt a policy stance that lets them tamp down on re-emerging inflationary pressures On whether RBI should change its stance as inflation is rising Mr Subramanian said, “Now… Continue reading CEA: Time to change monetary stance

Taxpayer count rises post GST Context The Goods and Services Tax has resulted in a 50% increase in the number of indirect taxpayers, the Economic Survey said, adding the fledgling tax regime has already revealed new data on key aspects such as inter-State trade, State-wise exports, and the extent of formalisation in the economy Voluntary… Continue reading Taxpayer count rises post GST

Recovery will lift growth to 7-7.5% Context The economy is set to grow at 7-7.5% in the next financial year on the back of reviving exports and investment even as the negative effects of demonetisation and the teething troubles of the Goods and Services Tax recede, Chief Economic Advisor Arvind Subramanian said in the Economic… Continue reading Recovery will lift growth to 7-7.5%

A path to executive power  Context The issue of office of profit must be understood as part of the legislature’s institutional separation What On January 21, President Ram Nath Kovind approved the recommendation of the Election Commission (EC) to disqualify 20 Members of the Legislative Assembly (MLAs) of the Aam Aadmi Party (AAP). They were deemed to… Continue reading A path to executive power 

Cow vigilantism: SC issues notice to Haryana, U.P. and Rajasthan Context The Supreme Court on Monday asked the governments of Rajasthan, Haryana and Uttar Pradesh to respond to a plea seeking contempt action against the States for not complying with the court’s order to take stern steps against cow vigilantism What A Bench led by Chief… Continue reading Cow vigilantism: SC issues notice to Haryana, U.P. and Rajasthan

President, PM call for early passage of triple talaq bill Context President Ram Nath Kovind and Prime Minister Narendra Modi on Monday advocated the early passage of the Muslim Women (Protection of Rights on Marriage) Bill, 2017, also known as the triple talaq Bill, during the Budget session of Parliament. It has been hanging fire… Continue reading President, PM call for early passage of triple talaq bill

Sushma to engage new Nepal govt  Context In a bid to revive ties with Nepal, External Affairs Minister Sushma Swaraj will visit Kathmandu from February 1 to 2 Backdrop The visit comes weeks after Nepal elected a Leftist coalition, which won the first historic poll under the new Constitution of the country The visit by… Continue reading Sushma to engage new Nepal govt