The Times of India: Corporate tax cut not likely in Budget 2010-11
The government may not tinker with the corporate tax rates in the Budget 2010-11 despite pressure from India Inc to slash rates or at least do away with surcharge and cess.
Economic Times: Selloff parade may fetch Rs 30,000 cr in 2010-11
The government plans to raise about Rs 30,000 crore next financial year from stake sale in public sector firms to meet a significant part of the revenue shortfall, as it looks to bring down fiscal deficit from the 16-year high of 6.8% recorded this year.
DNA: Why Pranab should read Singh’s 1991 speech
If Finance Minister Pranab Mukherjee is looking for help in writing his 2010-11 Budget speech, here’s a suggestion: he should ask for a copy of Manmohan Singh’s Budget speech of July 24, 1991. Large chunks can be lifted verbatim.
The Times of India: GST to be levied at 16%, goods to cost less for consumers
The long-awaited reform of India’s indirect taxes system is set to get a major fillip, with a broad consensus forming within the finance ministry on a rate of 16% for the proposed Goods and Services Tax (GST) for both Centre and states combined. To be levied on all companies and traders with an annual turnover of Rs 10 lakh and above, this would provide a tax base of 40-45 lakh assessees and ensure that neither the Centre nor the states suffer any revenue loss.
Hindustan Times: Chambers want PPP in railways
With the date for tabling of the railway budget drawing near, the industry chambers are seeking greater public-private participation (PPP) in the expansion of railway infrastructure and upgradation of technology.