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India's tax revenue below potential by about four percent of GDP, says NK Singh

India's tax revenue below potential by about four percent of GDP, says NK Singh
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Last Updated: Apr 23, 2021, 08:01 PM IST
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Synopsis
Speaking at the CSEP-IMF event on "Securing Sustainable Finances and Medium-term Fiscal Frameworks: International Experience and Relevance for India", Singh said there is a need to redo direct and indirect taxes and bring about deep reforms in the revenue system.
15th Finance Commission Chairman NK Singh on Friday said India's tax revenue potential is lower by 4 per cent of GDP and the country needs to bring in deep reforms in the revenue management system. He also said an incentive mechanism for states needs to be worked out so that their policies are aligned to those of the central government.

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India's tax revenue below potential by about 4% of GDP: NK Singh

‘There is a need to redo direct and indirect taxes and bring about deep reforms in the revenue system’

India , Rakesh-mohan , Finance-commission-chairman , Sustainable-finances , Medium-term-fiscal-frameworks , International-experience , Governor-rakesh-mohan , Finance-commission , 15th-finance-commission-chairman-nk-singh , India-39s-tax-revenue , Gdp

भारत की कर राजस्व क्षमता जीडीपी के चार प्रतिशत के बराबर कम है: एन के सिंह

भारत की कर राजस्व क्षमता जीडीपी के चार प्रतिशत के बराबर कम है: एन के सिंह
business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.

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Exiting the Easy Money Circle- Business News

Exiting the Easy Money Circle
The RBI adopted multiple regulatory forbearance measures and ultra-loose monetary policy to counter economic headwinds. Now it has to work out an exit roadmap
Illustration by Raj Verma
More than a decade after the global financial crisis, the exit from an ultra-loose monetary policy - such as near-zero interest rates and helicopter money - in the US is still a work in progress. The US Federal Reserve's balance sheet has expanded from under $1 trillion before 2008 to $4.5 trillion in the aftermath of the financial meltdown. The Covid outbreak has further pushed the unwinding as the Fed's balance sheet is expected to jump to 50 per cent of the country's GDP from the current 34 per cent. The eventual exit would mean liquidity tightening and higher interest rates in the US, which would have implications for emerging markets, including India, by way of dollar outflows from stock market and currency depreciation.

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