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Synopsis The government has justified high level of taxation on auto fuels suggesting that revenue from petroleum sector is important for running various developmental schemes but has refused to acknowledge the role played by higher prices of petrol and diesel in fuelling inflationary pressure on the economy. PTI The government has justified high level of taxation on auto fuels suggesting that revenue from petroleum sector is important for running various developmental schemes but has refused to acknowledge the role played by higher prices of petrol and diesel in fuelling inflationary pressur...

Agri infra cess for whom? It must be used for farmers’ benefit On the economic policy front, it was amply clear that unlike other crises, Covid-19 had a significant impact on demand and supply. India recognised the disruptive impact and had to charter its unique path amidst the dismal projections. As a result of the policy initiatives undertaken by the government, as per the Economic Survey, the country saw a V-shaped recovery. In the backdrop of an unprecedented crisis, the year 2020-21 had been a challenging one on the fiscal front. The shortfall in revenue collection owing to the interru...

All you wanted to know about Agriculture Infrastructure Development Cess × The Budget for 2021-22 may have refrained from tinkering with your taxes, but it has proposed a new levy — Agriculture Infrastructure Development Cess. What is it? Cess is a kind of special-purpose tax which is levied over and above basic tax rates. The purpose of the new AIDC is to raise funds to finance spending on developing agriculture infrastructure. Considering that not much private investment is forthcoming for agriculture, the Centre now seeks to raise a dedicated fund to meet these expenses. In her Budget...

An ambitious Budget that needs proper execution So, boosting the consumption - which would create more demand for the goods and services would result in a greater collection of revenue.  Share Via Email   |  A+A A- People watch Finance Minister Nirmala Sitharaman presenting Union Budget 2021-21 on television sets at an electronics store. (Photo | V Karthikalagu, EPS) In a situation where the economy was not doing well, even before the pandemic began, and with it getting further hit by the steps taken to contain the pandemic, it was indeed challenging for the Finance Minister to mobilis...

Union Budget 2021: What it offers the automotive industry Updated Feb 02, 2021 | 13:30 IST The Indian government announced budget 2021 yesterday. For the country's automobile industry, what did it bring forth? Read on to see. Union Budget 2021: What it offers the automotive industry  Well, yesterday was quite hectic for the country, thanks to Union Budget 2021. Yep, Finance Minister Nirmala Sitharaman announced the new budget, policy, and initiatives for the country as we reel from the shock of the coronavirus pandemic. The slew of announcements also included some f...