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Business Standard
3 days ago
- Business
- Business Standard
Statsguru: As GST turns eight yrs old, need for reform push grows
The goods and services tax (GST), net of refunds, now yields close to ₹20 trillion to the exchequer - both the Centre's and states' premium Indivjal Dhasmana New Delhi Listen to This Article Prime Minister Narendra Modi had described it as a 'good and simple tax', while Opposition leader Rahul Gandhi had called it 'Gabbar Singh Tax'. Where does the truth sit? Perhaps somewhere in between. The goods and services tax (GST), net of refunds, now yields close to ₹20 trillion to the exchequer – both the Centre's and states'— with average annual receipts three times the receipt during the pre-GST period from taxes that were subsumed in GST (Chart 1). However, the average annual growth rate for receipts is a shade lower than that in the pre-GST period. Part
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Business Standard
26-05-2025
- Business
- Business Standard
Datanomics: Govt finances get a cushion from RBI, more needed for stability
Defence expenditure was pegged at 1.4 per cent of GDP in the Budget for 2025-26 but it may widen, depending on tensions between India and Pakistan Indivjal Dhasmana New Delhi Listen to This Article The Reserve Bank of India's (RBI's) record surplus transfer to the government would moderately offset the impact of any likely rise in defence expenditure on public finances. While the central bank announced ₹13,000 crore more than what was projected in the FY26 Union Budget, from RBI's surplus transfer as well as dividend from nationalised banks and financial institutions, markets had expected between ₹31,000 crore and ₹80,000 crore more. Had the market expectations been met, the government would have had sufficient money to meet higher defence expenditure without affecting projected expenditure on other heads, particularly capital, and meet the fiscal deficit
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Business Standard
14-05-2025
- Business
- Business Standard
Datanomics: Pakistan's defence expenditure exceed its IMF bailouts
In 2024, the country received $1 billion under an Extended Fund Facility (EFF) worth $7 billion approved for disbursal over 37 months. The same year, it shelled out $10.2 billion in defence spends Indivjal Dhasmana New Delhi Listen to This Article Cash-strapped Pakistan may be a perennial borrower from the International Monetary Fund (IMF), with average annual receipts of about a billion dollars in the last six years. It received another $1 billion on Wednesday. But its spends on the military tend to run up 10 to 20 times the IMF loans it receives. In 2024, the country received $1 billion under an Extended Fund Facility (EFF) worth $7 billion approved for disbursal over 37 months. The same year, it shelled out $10.2 billion in defence spends.
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Business Standard
06-05-2025
- Politics
- Business Standard
Will 2026 Census-based delimitation shrink South India's voice in LS?
With delimitation tied to the 2026 Census, southern states risk losing seats despite leading in population control and contributing heavily to the economy Indivjal Dhasmana New Delhi Listen to This Article The 84th amendment to the Constitution binds the next delimitation exercise with the new Census. It is this link that has upset southern states. The amendment, made in 2002, froze the number of Parliament seats to the 1973 delimitation exercise, which was based on the Census of 1971. It says that the next delimitation exercise would be undertaken after 2026, based on the first Census after that year. Southern states controlled their population much better than their northern counterparts, and as such, they fear loss of political representation if the new re-mapping of the Lok Sabha seats is linked
