For small businesses, especially, it opens up a customer base across the country using e-commerce. Presently, there are 14.6 million active taxpayers, of which nearly 10.4 million have come in the post-GST regime and are therefore new registrations. They represent a formalization of the economy. To what extent have small businesses benefited from this formalization?…
They could be even bigger drivers of growth and jobs if their large and persistent credit gap of over 60% could be bridged. This gap stems from multiple challenges across the MSME lifecycle. The underwriting scorecards for most financial institutions are built on limited data sources. For example, they do not fully leverage information about…
Once upon a time, only story- tellers took it upon themselves to challenge Mark Twainâs quip that death and taxes were the two certainties of life. They came up with zombies, neither dead nor alive. Policymakers might be relatively new to the task, but did not take long to sap the certainty of taxation. Among…
Several political leaders are demanding the withdrawal of the Goods and Services Tax (GST) imposed on life and health insurance policies. Ministers and politicians such as Congress leader Rahul Gandhi, West Bengal Chief Minister Mamata Banerjee, and Union Minister Nitin Gadkari, have voiced their concerns over high GST rates on insurance as it is a major impediment…
West Bengal Chief Minister Mamata Banerjee on Thursday, August 1, urged the Central government to roll-back Goods and Services Tax (GST) from life insurance and medical insurance premiums. Mamata Banerjee said GST on insurance premiums affects people’s ability to take care of their basic needs. In a post on X, Mamata Banerjee said, âOur demand…
It has hardly anything to say on the hot-button issues of centre-state financial relations that threaten to flare up during the current session of Parliament. The Survey is silent on questions such as: Should money be offered in lieu of demands for special status by regions, should the GST architecture be redrawn, what, if any,…
On one hand, there is an âembarrassment of riches,â with rapid growth in both direct and indirect taxes, high and stable economic growth, and moderate inflationâall of which suggest that the economy is in a sweet spot with enormous potential for expansion. Alongside these riches, there are many signs of simmering discontent, as indicated by…
