GAAR, it said, will come into force from April 1 and can be invoked only through a two-stage process involving a nod at the level of principal commissioner of income tax and a panel headed by a high court judge.
New estimates based on railway passenger traffic data reveal annual work-related migration of about 9 million people, almost double what the 2011 Census suggests
Fiscal deficit in the first nine months of 2016-17 touched 93.9 percent of the Budget target against 87.9 percent for the same period a year ago.
It is not just demonetisation which is threatening the world's fastest growing economy tag of India. A spike in oil prices too may have dampening impact on the growth, the Economic Survey said today.
The Economic Survey 2016-17 tabled in Parliament on Tuesday by Union Finance Minister Arun Jaitley showed that foreign equity inflows during the first six months of 2016-17 fiscal grew by 30.72 percent.
Even as the Niti Aayog has said that India does not have the necessary financial resources for the project, the government`s Economic Survey 2016-17 presented on Tuesday advocated a Universal Basic Income (UBI) scheme as an alternative poverty reduction mechanism in place of various ongoing social welfare programmes.
Playing down huge sell-off by foreign investors in Indian markets, the Economic Survey today said FPI outflow last year was not an India-specific phenomenon as most emerging markets witnessed a pullout due to higher returns in advanced economies.
The 13-year old FRBM Act will need to be modified to provide fiscal policy direction for "the India of tomorrow", the Economic Survey said today.
Policy making in certain areas like telecom and banking has been severely constrained due to "abundant caution in bureaucratic decision-making", the Economic Survey said on Tuesday.
Despite facing challenging infrastructure deficit in the country aided by resource crunch, debt-laden firms and stressed assets, highways construction and cargo exports registered impressive growth in the first half of FY2017. The Economic Survey said Tuesday.
Uptick in the global economy is likely to push the country's exports further in the coming years, the Economic Survey today said.
Subsidy bill increased by 5 percent during April-November 2016 due to 21.6 percent surge in food subsidy, the Economic Survey said today.
Pitching for labour reforms, the survey said formal employment could increase by offering employees choices when they start employment.
Invoking Mahatma Gandhi's vision of "wiping every tear from every eye", the Economic Survey today made a strong pitch for implementing Universal Basic Income (UBI) that stipulates a certain income for the poor.
Calling Goods and Services Tax (GST) a bold new experiment, the pre-Budget Economic Survey Tuesday pitched for including land and other immovable property - the key source of black money creation - in the indirect tax regime to help propel GDP growth to 8-10 percent.
India should play a proactive role in promoting open global markets to fill vacuum in the international leadership, The Economic Survey today said.
With corporate profitability likely to remain subdued owing to note-ban and global developments, overseas investors are expected to pump in a moderate USD 15-20 billion, during the next fiscal, says a ICRA report.
Warning of a repeat of pulses-like crisis in other agri-commodities, the pre-budget economic survey today asked the government to be "vigilant" to prevent spike in prices of items like sugar, milk, potatoes and onion.
Property prices fell due to cash crunch following demonetisation and could decline further as investing undeclared income in real estate becomes more difficult, says the Economic Survey.
Retail inflation is likely to be well below RBI's target of 5 per cent in the current fiscal as demonetisation would discourage any price headwind, the Economic Survey for 2016-17 said on Tuesday.
The Economic Survey 2016-17 tabled in Parliament on Tuesday by Union Finance Minister Arun Jaitley projected a decline in industrial sector output during 2016-17.