There is much talk of the proposed simplification of India’s complex GST regime. Prime minister Narendra Modi in his Independence Day speech, said, "…The government will implement next generation GST reforms which will bring down tax burden on the common man."
India and Japan have found common cause at sea as the Indo-Pacific becomes the world’s strategic center. For Japan, the sea lanes through the Malacca Strait are its economic lifeline. For India, security across the Indian Ocean is necessary for trade and energy.
Health insurance for individuals has been made exempt from Goods and Services Tax. GST has been removed from life insurance premium payments for individuals, as well. Both used to be charged GST at 18%. So, this represents major relief for individuals, this lowering of the cost of buying insurance by nearly a fifth, right? That magnitude of reduction in the cost of either life or health insurance is merely an illusion. The cost of insurance might come down somewhat, but definitely not by 18%.
India embraces its need for American intelligence and weapons to keep China at bay. At the same time, India does not want to be obliged to the US so much that it comes under its thumb. India is better off with a multipolar world, with multiple power centres.
Education has never been a critical step towards ending the chain of inherited social inequality in India. For SCs, formal education has long been precluded by discrimination as well as financial struggles.
According to GoI’s response to a question in Parliament, there have been 42,673 instances of input tax credit fraud, worth ₹1,66,241 cr, cumulatively over FY21 and FY25 (up to January for the last fiscal).
In India, where over half the population depends on agriculture for their livelihood, and more than 70% of farmers are small and marginal, they remain extremely vulnerable to climate variability and crop failures (NITI Aayog, 2019). The growing threat of global warming has intensified the frequency and severity of erratic weather patterns, worsened agricultural risks, and deepened the cycle of income insecurity and indebtedness among farmers. Recognizing this urgent challenge, the Government of India launched the Pradhan Mantri Fasal Bima Yojana (PMFBY) in 2016. It is a large-scale crop subsidy insurance scheme that aims to safeguard farmers. This scheme is being administered by the Department of Agriculture and Farmers Welfare.