Fueling growth

April 17, 2019Posted inEconomy2 Comments
Everyone is talking about the Pay Commission's report. And I too will gradually join the conversation. To start, I wish to discuss the Commission's recommendation to increase fuel taxes. Everyone would remember 2013. The country was experiencing an economic crisis. In its efforts to address the critical shortage of Indian rupees, the central bank imposed a series of policies including restricting the supply of rupees; rationing rupees to Bhutanese traveling to India for business, studies, medical treatment or pilgrimage; closing bank accounts of Indian citizens; and suspending loans in several sectors. These policies did little to solve the rupee…

Taxing issues

July 2, 2012Posted inEconomy, Government12 Comments
The National Assembly passed the Tax Revision Bill last week. The Bill is now with the National Council. The Council will discuss the Bill, but, because it is a “money bill”, the Council can only make suggestions and recommendations that the National Assembly may, or may not, chose to accept. (Last year, the Assembly did not accept any of the Council’s recommendations on the budget and tax revision bills. In fact, the Assembly just skimmed through the recommendations, barely discussing them.) The National Assembly has passed the Tax Revision Bill. But, we didn’t discuss it properly. After the Bill…