THE HINDU has a good report on Mizoram and football [Link]
This could be very important, profound and positive for Indian agriculture [Link]
FT writing on India’s addition to the tax net, after demonetisation and the introduction of Goods and Services Tax:
The numbers are so stark that some say it will go down as Mr Modi’s greatest economic legacy, while others are offering India as a model for other developing countries looking to tackle widespread tax evasion. [Link]
John Authers points to a Harvard Centre for International Development study:
The latest edition of the Atlas of Economic Complexity by Harvard’s Center for International Development was published last week. It shows the countries best positioned to grow thanks to their networks of diverse and transferable skills.
“India and Uganda top the list of the fastest growing economies to 2026, predicted at 7.9 and 7.5 percent annually, respectively. The growth projections are based on Economic Complexity, a single measure of each country’s economy which captures the diversity and sophistication of the productive capabilities embedded in a country’s exports.” [this is from the study itself] – Link
Karthik Shashidhar on the boost to digital payments after demonetisation. Data indeed now supports the thesis.
Mobis Philipose writes that there is no acceleration in growth for Indian Information Technology companies. But, this is indeed a mystery but ultimately unsustainable, I guess:
Oddly, even though the results season has made it evident that the growth acceleration theory was all hype and no substance, NSE’s Nifty IT Index remains 15% higher than end-2017 levels, outperforming the market by a wide margin. From the looks of it, IT stocks are also benefitting from the so-called TINA factor— there seem to be hardly any decent alternatives at affordable valuations in the Indian markets.
The GST Council considered the idea of imposing a ‘sugar cess’ on the GST and then deferred it. Good thing if they abandoned it fully. The Andhra Pradesh Finance Minister has said:
the levy of cess is against the spirit of implementing GST that is one tax one nation. [Link]
We have to agree with him. We are unnecessarily making things complicated and they will be counterproductive. Own goals. Best of all solutions for tax revenues is economic activity. Measures that stifle it are not going to bring more tax revenues.
Globally, crude oil prices are rising because of political risk factors. But, India has not allowed its oil marketing companies to increase the prices of petroleum products. Discuss it separately in another blog post.