Article published in Times of India Mumbai dated 21st September 2019, Saturday.
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Your association SIMA is forwarding herewith an Articles published in Times of India – Mumbai dated: 21st September 2019.
In Govt’s Growth Push, Some Fiscal Pain
Experts Feel Fiscal Deficit May Miss 3.3% Target, Slip To 4%
The sharp cut in corporate tax rates unveiled by finance minister Nirmala Sitharaman on Friday poses a risk for the fiscal deficit target, budgeted at 3.3% of gross domestic product. The cuts in corporate tax rates have come at a time when collections of both direct and indirect taxes have been sluggish and the government estimates Friday’s cuts will mean a revenue loss of Rs 1.45 lakh crore. The government has also foregone revenues in other steps announced earlier such as export incentives and scrapping the superrich surcharge on foreign and domestic portfolio investors. Several economists TOI spoke to said they expect the government to overshoot the fiscal deficit target for the current year with former RBI governor C Rangarajan pegging it closer to 4% of GDP….…TO VIEW THE FULL ARTICLE PLEASE CLICK HERE.
TO SPUR INNOVATION
Govt. widens scope of CSR spend to include R&D
In a boost to science and technology research and to the country’s startups, the finance minister on Friday expanded the list of activities allowed under the mandatory 2% Corporate Social Responsibility (CSR) spends. Firms wishing to support research and innovation can now use their 2% CSR corpus to back any central or state government-funded incubators or those by any agency or central and state PSUs. Further, any contribution to public-funded universities, to IITs and other research bodies under DRDO, department of science and technology, ministry of electronics and IT, etc. for research in science, technology, engineering and medicine, can also be counted as CSR spend.……TO VIEW THE FULL ARTICLE PLEASE CLICK HERE.
‘3rd Budget’ In 8 Months – And The Biggest
HOWDY INDIA INC: In a bid to reverse a deepening economic slowdown and revive business and market sentiment, the Modi govt. has unveiled one booster package after another in the past month– culminating, on the eve of the PM’s high-octane US visit, in a bold move to slash corporate taxes to a historic low and woo back investors FM Goes For Growth With One Of Largest Tax Giveaways Ever……. TO VIEW THE FULL ARTICLE PLEASE CLICK HERE.
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