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FIX GST ON CAPITAL GOODS TO REVIVE PRIVATE INVESTMENT Why in the News? Policy debate: An opinion article flags structural flaws in GST treatment of capital goods, linking them to weak private investment response and potential impacts on environmental clearances. Budget relevance: The issue gains urgency ahead of the Union Budget, where reviving private investment …
Read MoreTrump’s Tax Plan May Hurt the Poor Why in the News? The U.S. Congress is debating President Trump’s new tax and spending bill, which includes tax breaks on tips. However, analysts warn that low-income Americans may face a net income loss due to social program cuts. The Trump tax plan, proposed by the GOP (Republican …
Read MoreGENERAL SCENARIO OF INDIAN TAXATION Origin of Tax: The term “tax” comes from “taxation,” indicating an estimation process. Historical Presence: Direct taxation has been a part of India’s financial system since ancient times. Purpose of Taxation: Taxes are collected by the government to fund projects that boost the economy and improve citizens’ standard of living. …
Read MoreSyllabus: GS-3-Inequality in India and its impact Focus : Top of Form The article explores the ethical imperative of reducing inequality and advocates for progressive taxation, focusing on wealth and inheritance taxes. It discusses the consequences of high inequality, rationale for progressive taxation, taxation models, economic impact, and policy recommendations to address socio-economic disparities in …
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