#financeministry

Bottom 50% of Indians pay 64% of GST: Oxfam India’s claims about ‘disproportionate’ taxing of poor is ‘mathematically impossible’. Here is why

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Oxfam India, a charitable organisation that supposedly fights against inequality in the country, has stirred the hornet’s nest with its outlandish claims about the Goods and Services Tax (GST) collection. In its report published on Saturday (January 15), Oxfam India claimed that indirect taxes are being taken disproportionately from the poor and the middle class as compared … Read more

Not the first time an FPO has been taken back, won’t affect perception of India: Finance Minister Nirmala Sitharaman

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Union Finance Minister Nirmala Sitharaman on Saturday said that regulators independent of the government will do their jobs and that a pullout of FPO pullout will not have any impact on the perception of India. “Regulators are independent of the government and they are left to themselves to do what is appropriate so the market … Read more

Every penny due for Karnataka given on time, no special grant recommended by Finance Commission

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In a push-back against allegations of fiscal bias against Congress-ruled Karnataka and non-provision of funds, Union Finance Minister Nirmala Sitharaman said on Sunday every penny due to the state is accounted for and was released on time. Speaking at an informal interaction organised by the Thinkers Forum here in the Karnataka capital, Sitharaman said, “The … Read more

Kerala financial crisis

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Supreme Court suggests Centre to go ‘slightly liberal’ & provide one-time bailout package as CPM govt demands Rs 19,000 crore. The Supreme Court on Monday, 11th March, suggested that the Central government provide a one-time bailout package to the state of Kerala, which is reeling under a financial crisis. Deferring the matter to tomorrow, 13th March, at 10:30 am, … Read more