Inside India’s asset monetization gambit

Synopsis: The recently rolled out NMP project, though has the right intent, but is fraught with challenges. A look at some of them. What are some issues with the National Monetization Pipeline (NMP) project? While the Niti Aayog has listed assets worth ₹6 trillion for the NMP, by its own estimate, it can only raise about ₹3.4… Continue reading Inside India’s asset monetization gambit

Sarkar’s Reform Mode: On various economic reforms by the govt.

What is the news? In the last few months, the government has become more aggressive towards reform as evidenced by several recent policy changes. Introduction The post-Covid, or rather the living-with endemic-Covid world offers major opportunities for India to accelerate its economic growth momentum again. This economic growth alone will get us out of the… Continue reading Sarkar’s Reform Mode: On various economic reforms by the govt.

The repeal of the retrospective tax shows Modi government means business on reforms

Source: The Indian Express Relevance: This article explains government actions to boost investor confidence Synopsis: Along with the taxation Laws (Amendment) Bill, India has taken many steps to boost investor confidence. Introduction: The government has recently introduced the Taxation Laws (Amendment) Bill, 2021, in Parliament. The bill seeks to nullify the contentious retrospective tax law by amending the Income Tax (IT)… Continue reading The repeal of the retrospective tax shows Modi government means business on reforms

Tax certainty is critical if the economy is to attract enough capital

Source: ToI Relevance: Issue of retrospective taxation Synopsis: The repeal of the retrospective tax decision helps to minimize the risk of authorities taking harmful and unpredictable decisions. Background Read Here:  Retrospective taxation and the Taxation Laws (Amendment) Bill – Explained Introduction It is hard to grow an economy without individuals and firms taking risk, and for… Continue reading Tax certainty is critical if the economy is to attract enough capital

The sovereign right to tax is not absolute

Source: The Hindu and Livemint Relevance: This article explains India’s sovereign right to tax and its limitations Synopsis: India has a sovereign right to tax, but that right is subject to certain limitations. Introduction: The government has recently introduced the Taxation Laws (Amendment) Bill, 2021, in Parliament. The bill seeks to nullify the contentious retrospective tax law by amending… Continue reading The sovereign right to tax is not absolute

Does bill scrapping retro tax go far enough? Worries are the no interest clause, later I-T interpretation

Source: The Hindu, The Indian Express and Times of India Relevance: This article explains issues with the 2012 amendment which provide retrospective taxation and the challenges with the recent bill. Synopsis: Delayed reset on retrospective tax is only the first step to regaining investor confidence Introduction: The government has recently introduced the Taxation Laws (Amendment) Bill,… Continue reading Does bill scrapping retro tax go far enough? Worries are the no interest clause, later I-T interpretation

Arbitration Awards and The Public Interest

Source: Business standard Relevance: Way forward for India in the Cairns Energy case Synopsis: Recently, a court in Paris allowed Cairn Energy to freeze assets of Government of India in Paris in a tax dispute. Similar developments are possible in the US from actions by Cairn and Devas Multimedia. Thus, an objective, analytical approach to pursuing… Continue reading Arbitration Awards and The Public Interest

Cairn Energy dispute and Government disputes with private entities – Explained, pointwise

Introduction Britain’s Cairn Energy Plc has secured an order from a French court authorizing the freezing of 20 Indian government properties in Paris valued at over 20 million euros. This is the first court order secured against India to enforce a $1.2-billion arbitration award that Cairn Energy had won against the Indian government in the… Continue reading Cairn Energy dispute and Government disputes with private entities – Explained, pointwise