India’s biggest tax reform since independence was launched Saturday to a mixture of protests and confusion among businesses and consumers. Yet despite the initial implementation dramas, analysts have pointed to potential longer-term gains for Asia’s third largest economy.
Formally enacted in a late-night session of parliament Friday, the new goods and services tax (GST) has unified 29 states and 1.28 billion people into a single market for the first time. The move is expected to strengthen government finances, reducing complexity and boosting foreign investment, among other economic benefits.
Budget aimed at winning over voters in wake of controversial currency policy, say analysts.
With state polls ongoing, India's Finance Minister Arun Jaitley has unveiled a Budget that boosts government spending to help the poor while cutting tax rates.
The Budget unveiled yesterday represented an effort to win the support of voters by blunting the negative impact of the government's controversial move last year to get rid of black money by demonetising high-value currency, say analysts.
The Election Commission has announced a new set of measures for the assembly elections in five states which will take place from February 4 to March 8.
The Supreme Court ruled on Monday that seeking votes in the name of religion , caste, race, community or language by a candidate, his agent or anyone with his consent would be a corrupt electoral practice rendering the person open to disqualification.
The order, which some political and official sources felt would be of limited utility in a country teeming with parties appealing to regional, caste-based and community identities, widened the scope of Section 123(3) of the Representation of the People Act in order to "maintain the purity of the electoral process".
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