OPINION
EMPLOYMENT
How feasible is a rural employment guarantee?
The Common Minimum Programme of the new UPA Government promises to provide public employment of 100 days per year to every rural household. Already the financial press has been trying to project this promise as unrealistic and requiring excessively large fiscal outlays that cannot be met. In this edition of Macroscan, C. P. Chandrasekhar and Jayati Ghosh investigate the need for such a guarantee, the possible fiscal costs associated with it, and how it can be effectively implemented.
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EDITORIAL
The VAT juggernaut
ONCE AGAIN, AFTER nearly half-a-dozen attempts, the air is thick with VAT (value added tax) calls. The Empowered Committee of State Finance Ministers on VAT has set a new deadline, April 1, 2005, for the introduction of the tax regime. When the ...
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ECONOMY
Globalisation gets a riposte in India
POLITICAL analysts have been attempting to delve deeper into the outcome of Elections-2004 that led to the downfall of the BJP-led NDA Government and the emergence of a stronger countervailing (secular) force in the ...
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TAXATION
VAT regime: Myths and realities
The arguments in favour of VAT on goods apply with equal force to services. Unless services are brought within the tax base, revenue growth from indirect taxes would remain constrained and the objective of reorienting the tax system towards greater r eliance on taxes on domestic consumption would be difficult to achieve, says M. Veerappa Moily, adding that the Centre should assist the States in designing appropriate VAT regimes for themselves.
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BANKING
`Project'ing corruption in multilateral banks
WHEN ministers in India declare themselves stoutly in favour of economic reform, the sub-text is their enthusiasm for hefty loans from multilateral development banks — conditionalities and all — which come ...
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CREDIT CARDS & DEBIT CARDS
Credit trap
IF YOU are a professional or in employment or an investor in the bonds, deposits, securities or other financial products of a bank, you should be surprised if you do not get at least a dozen calls a month, including a ...
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LETTERS
Package for farmers
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