It is the single biggest story that is confronting this country - the state of the economy. Growth is at a three year low, at just 5.7 per cent - something even the most die-hard supporters of the government say is too low and needs to be fixed. And where are the jobs? That is the key question for most folks as new data shows that creations of jobs has also shown a sharp decline. Many economists believe a combination of demonetisation and the GDP implementation has only added to the problem. Others don't think demonetisation was such a big factor. Just last week former finance minister Yashwant Sinha went public with scathing criticism of the way the economy is being handled - he doesn't believe it will be fixed by 2019, the time of the next General election. Joining us on Left, Right and Centre, a man who has worn many hats, former union minister in the previous NDA government, a former editor and economist, Arun Shourie.
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The high-powered GST Council, chaired by Finance Minister Nirmala Sitharaman, will meet on September 3-4 to discuss moving to a two-slab taxation.
The Centre's proposed reduction in GST is also expected to lead to a drop in costs for car buyers, reducing on-road prices as well as EMIs.
Proposed GST cuts on petrol and diesel vehicles could reduce EVs price advantage, slowing adoption while causing major revenue losses for the government - HSBC.
A key meeting of the Group of Ministers (GoM) on GST rate rationalisation on Thursday ended with state finance minister accepting the Centre's plan to reduce the number of tax slabs.
Over 50 million Micro, Small and Medium Enterprises in India, who have GST and Business PAN (B-PAN), can have digital procurement access through Amazon Business ahead of the upcoming festive season, the global e-commerce giant said on Thursday
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