ECONOMY

Universal Basic Income: Will every Indian get free money from the government?

January 06, 2017 | Aman Malik

At least two recent news reports in the foreign press seem to suggest that the Indian government could soon consider paying the citizens a basic income. 

India services activity shrinks again in December on cash squeeze

January 04, 2017 | Reuters

India's services industry ended 2016 on a sour note, contracting for a second month in a row in December as orders shrank amid a severe cash shortage, a private business survey showed on Wednesday.

GST rollout looks unlikely by July on banknote ban

January 03, 2017 | Oineetom Ojah

The demonetisation drive and its impact on economy dominated the crucial meeting of Goods and Services Tax (GST) Council on Tuesday, triggering fears that rollout of the crucial tax reform may be delayed by more than 3 months from the 1 April timeline the Centre had been working on.

India factory output contracts in December on banknote ban

January 02, 2017 | Reuters

Indian factory activity plunged into contraction last month as a cash crunch following Prime Minister Narendra Modi's currency crackdown severely hurt output and demand, a survey found on Monday.

Five key developments that will shape Indian economy this year

January 02, 2017 | Aman Malik

2017 is likely to be a year in which the government’s resolve to make India a "less-cash" economy will be tested, and so will its efforts to weed out black money from the system. It will also be a year during which India will most likely implement an overhauled indirect tax regime.

Made an expensive purchase with old notes? The taxman could soon come knocking

January 02, 2017 | Aman Malik

Big data is reportedly coming to the aid of the income tax department in scanning all the high-value purchases made since 8 November, when the government demonetised Rs 500 and Rs 1,000 notes.

India revises treaty with Singapore to curb tax evasion

December 30, 2016 | Reuters

India will start imposing capital gains tax on investments coming from Singapore from April and fully withdraw exemptions in two years as the two countries agreed to amend a decade-old treaty after New Delhi rolled back similar concessions to Mauritius and Cyprus earlier this year.

What to expect from PM Modi’s New Year Eve address to the nation

December 29, 2016 | Aman Malik

On 8 November, prime minister Narendra Modi sprung a surprise when he addressed the nation and announced his government’s decision to ban Rs 500 and Rs 1,000 currency notes.

Demonetisation: Seven curious ways Indians allegedly used to launder black money

December 29, 2016 | Aman Malik

Just two days remain before the 50-day window to deposit old notes with banks comes to an end on 30 December.

Get rid of your old notes by March end or face up to 4 years in jail

December 28, 2016 | Aman Malik

The government on Wednesday reportedly cleared an ordinance, which stipulates that if a person is found possessing old Rs 500 and Rs 1,000 currency notes after 31 March 2017, he or she could face up to a 4 year jail term.

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