Economic Survey indicates high tax on gold to continue

Latest News - Economic Survey for 2016-17 has indicated that implicit subsidy for gold is still too high and it mostly goes to the middle class. Market participants say that this indicates that government is looking to have higher tax revenues from gold.

Survey notes that the calculations of implicit subsidies for the middle class, which forms top 40 per cent population, is estimated based on expenditure distribution as per NSS data of 2011-12

LPG subsidysubsidy for this class has been estimated at Rs 28,219 crore for 15-16 and for gold it has been estimated at Rs. 10,800 crore which is 0.08 per cent of (Read More)

Rail stocks slide 4% ahead of Rail Budget

Latest News - Shares of most of the railway sector related companies declined as much as four per cent ahead of presentation of the first Rail Budget subsumed in the General Budget tomorrow.

Titagarh Wagons settled 4.06 per cent down at Rs 115.90 on BSE today, while Kalindee Rail Nirman (Engineers) ended 3.27 per cent down at Rs 113.95 from the previous close.

Texmaco Rail & Engineering lost 3.22 per cent and closed at Rs 106.65. Stone India went down by 2.94 per cent to settle at Rs 69.30.

Kernex Microsystems tumbled 3.27 per cent and was (Read More)

Clothes, leather sectors key to jobs growth, says Economic Survey

Latest News  - Harnessing manufacturing sectors such as clothes and leather, which require low skill, is the key to large scale labour absorption and export growth for the country, according to the Economic Survey 2016-17.

Released by the central government on Tuesday, the Survey has an entire chapter on the subject, titled “Clothes and Shoes: Can India Reclaim Low Skill Manufacturing?”.

The Survey pointed out that India was at a good position to take advantage of China’s deteriorating competition because of higher wage costs. But, it also noted, with alarm, that this was not happening.

“The space vacated by China is fast being taken over by Bangladesh and Vietnam in case of apparels; Vietnam and Indonesia in case of (Read More)

Lack of sanitation facilities puts high burden on women: Economic Survey

Latest News - Stating that lack of access to sanitation facilities puts a disproportionate burden on women and girls, including the threat to life besides nutritional risks, the Economic Survey on Tuesday pitched for ensuring toilets in each household.

The pre-Budget Economic Survey 2016-17, tabled in Parliament on Tuesday, also said to ensure safe and adequate sanitation, water security and hygiene — the objectives of Swachh Bharat — as part of a broader fundamental right to privacy for women is becoming a serious policy issue.

Stating that there is 'disproportionate burden' on women in households without (Read More)