The estimates for the second quarter have shown that the GDP growth rate has reduced to 7.1% from the robust growth of 8.2% witnessed during the first quarter. Heading for a slowdown? Gross value added (GVA) for the five of the eight sectors reflected a slowdown from the first quarter. Only utility services, public administration,
The Global Wage Report is released by the International Labour Organisation (ILO). The report examines the evolution of real wages around the world. The report gives a unique picture of wage trends globally and by region. Findings of the Global Wage Report: The report has put into sharp relief one of the biggest drags on
The Central Statistics Office (CSO) under the Ministry of Statistics and Programme Implementation has released the estimates of Gross Domestic Product (GDP) for the second quarter (July-September) Q2 of 2018-19. Indian Economy in the Second Quarter: The GDP growth has slowed to 7.1%, from 8.2% in the previous quarter. Similarly, the Gross Value Added (GVA) growth has eased
Under-reporting and tax evasion are one of the major hurdles in resource mobilisation. This needs to be addressed by plugging the loopholes in the tax laws. Tax reforms Individual tax mobilisation The law does not require filing of returns if the income is below the taxable threshold of Rs 2.5 lakh. Professionals who can manipulate their
How under-reporting (of income) is a major concern for mobilization of resources despite growing tax collection?
The Central Board of Direct Taxes has released the latest data on income tax collections. Key findings from the CBDT report The number of tax returns filed has increased to 6.85 crore in FY 2017-18. This is an 80% growth since FY 2013-14. The number of taxpayers reporting income greater than Rs1 crore has reached