Budget 2018/19: Revolutions and Regression
With the government swimming in tax revenues, it makes little economic, or revenue, sense to reintroduce the long term capital gains tax after a hiatus of 14 years. Why?!
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With the government swimming in tax revenues, it makes little economic, or revenue, sense to reintroduce the long term capital gains tax after a hiatus of 14 years. Why?!
The best tax policy for the taxman is one that maximizes tax revenue, and not one that maximizes his morality, or his employment, or his discretionary powers.
India can, and must, reform its welfare system for a transforming India – more efficient redistribution is desirable for both ethical, and political, reasons.
A direct outcome of demonetisation is a sharp increase in 2017-18 in tax buoyancy (revenues per unit of growth). Given this ‘unexpected’ result, will the knee-jerk critics of demonetisation please stand down?
The first year of operation of the Monetary Policy Committee has imposed considerable costs on the economy with very few benefits. What explains its decisions?
It was about both politics and economics. It is an acknowledged political success and early ‘returns’ indicate an economic success story as well.
Budget 2017-18 is probably the most brilliant economic and political document since the path-breaking budget of 1991
A meaningful reduction in effective corporate tax rates to around 20 per cent is the correct follow-through to the logic, and pain, of demonetisation.
The finance minister can cut everyone’s tax burden, even pay the poor, and be revenue neutral by cutting sops
The economy provides scope and demonetisation, the rationale for a flat income tax rate and a negative income tax for the poor and the needy.