Ad Here  
June
July
August
September
October
November
 
 
Don’t seem to feel the pulse… Padma Bhushan for A Ramakrishna Fortune for Indian Airlines Eternal support for capitalisation of PS banks He continues the focus on social amelioration An informal presentation - analytical, forward locking... Rs.1600 crore paper board plant of TNPL Focus on quality of power - its only around 170-180V TN-leverage strength of BHEL, NLC... No engine for this car F C Kohli - his concerns all embracing A more liberated TN… Liberal imports idling indigenous capacities Scientists urged to take up farmer-oriented research Remembering Indira Sivasailam... Excel Generators provide the vital back-up The sea- saw battle continues... PC’s preference for professionals The ‘Ayyo-yes’ is no more Things happen by accident and not by design... R Sridhar steps down as CEO of Shriram Capital Chennai and Kolkata miss opportunity to grow as Delhi and Mumbai Infrastructure funding – lessons learnt Permanent secretariat for TN GIM A yen for wastage… Small units prefers to remain small... An enemy’s enemy is a friend Poor representation for Kerala and TN in Cabinet IAS invades NDDB... The why of tax incentives Multi-faceted Venkat A welcome initiative by the judiciary Inflation: are we emulating Argentina and Brazil? Vibrant Gujarat Cleaning Ganga – relocate tanneries and install electric crematoria Colour-Chem’s colourful KRVS Air Asia India will set new benchmarks for budget travel PPP mode for upgrading Corporation Hospitals Limit foreign borrowings to hi-tech, export potential projects... More Shakti to resource mobilisation... Diamond jubilee of Egmore Samskrt School S V Raju – a ‘good’ true liberal Not just in-laws (and outlaws); they’ve renowned academics at the helm! TIAM turns a full cycle Where is Rajaji? Why land prices zoom in TN? WTO Meet: resolved to meet again Delhi is distant… Make standards certification mandatory... Insurance companies bleeding, yet no decision on increasing FDI limit! CIPET hqrs to stay at Guindy – for the present? This scant respect for Law Pharma – overdose of copying Delhi returns to BJP Plummeting profits of PSBs Paytm karo... Tax agriculture Put expensive assets created to use... Poor quality of university VCs B H Kothari - a tribute Another Indian music maestro at the UN Building loyalty through the stomach Welcome focus on core competence Welcome thrust on trade in Modi’s foreign visits... West Bengal: mindless malignancy Online not in line with brick and mortar businesses... L&T- the specialty of special purpose vehicles Naidu’s return augurs well for Seemandhra IPL - no surprise this scam Tough task taking states together Godspeed, Chief Minister JJ Shanti and Sadhana through Music Secularism and anti-Hinduism Discoms deserve better… Dr C Rangarajan returns to Chennai Auto components surge… He saved millions from starvation... Road development slows down Revving up the manufacturing sector ONGC at KG Basin Naidu will soon build a new Hyderabad A Grand Finale for SN’s MS centenary at the US… Waning interest in public discussions… The nuclear option Delhi Chalo... TGS- The king storyteller Bihar elections - the Rajaji formula worked Quality education through the PPP mode Why this malaise in medical education? A proud Madrasi Nuclear power at the nucleus A rich pool of talent not utilised…. Should we change the official year? An inexplicable neglect New IT products of Ramco in the pipeline… Protest masters... Muffled voices for merit… For whom the MIDS bell tolls? Demise of a media baron... No Maha Koottani in TN... Strengthen the base... Shipping woes of Chennai companies Tribute Bihar – Nitish Kumar adopts the Lalu model Align crops to agro climate endowments… IPL type auction for VCs? Five star activism stalls development activity More heat than light Alexa – Talking Wikipedia MHC should not return to its old indisciplined ways More Shakthi to Das’ elbow Tribute – UCAL Selvan… Modi storms Silicon Valley Cutting the nose to spite the face Valli, they are more marginalised A professional at the helm of IRDA... Robber barons everywhere The brown list of Venkitaramanan Kinetic Karnataka Mersal magnified All eyes on Sankara Nethralaya Sweet news for TN sugar mills Increasing non co-operation of state leaders Tribute – M V Murugappan Boy, can you beat these? London, London Narayan Maximising the micro pricing … SoA @ 80 Intellectual of rare qualities Haul over the coal A friendly business group Wanted: a second airport for Chennai Making ‘my Amaravati’... The balancing act Come elections, come advertisements... Contrarian cousins Shale gas and its shallow future Moily’s bold thrust Polls and promises Kudos to NDTV... Rahman at CIC Tribute – Manikam Ramaswami The star of Spencers is no more A think tank for Chennai Parliament in paralysis... The ‘Jayanthi Tax.’ Cement prices continue to rise… When small is no larger beautiful.. Fuel for thought Welcome GST Sri Lanka votes for change When nations steal growth from one another… The few handicaps... Lesson from Chandrababu Naidu Telangana in top gear… Solar thermal shines… Preserving for the future Fortune 500 review The rise and rise of KCP EEC at the National Media Centre A C Muthiah – his munificent bequeaths to science Reliance’s TV – 18 ready to launch Tamil News Channel Measuring roof tops in terms of KW/MW Gay abandon in pricing TELANGANA at last…BUT Delhi is distant Silver Years of Madras Musings When Ratan Tata visited SRM Mu Sigma – is no more Gas is the way forward Which side are you, Montek? CSR and CMI: promise of another Srinivasan Ramanujan... Streamlining mandatory third party cover Tihar, Puzhal not different from Parappana Agrahara When TN politicians can emulate Kerala's Adapt Vajpayee dinner diplomacy Odisha: spectacular win by Naveen Patnaik Medical costs hit the roof... Lalu’s envy, India’s pride TN accounts for the largest recruits by the IT sector Funding the un-funded Convulsions in The Hindu Russi Mody – a tribute Engineering seats go abegging When online building permits work…. When the President was rendered homeless… Return to king coal for urea... Quality silica from Neyveli The rise and fall of Annamalai University Kulandai was a giant The Gulf aviation boom Tatas moving out of urea production... No mega rail project for Tamil Nadu Shaming of Tamils by Tamil farmers at Delhi Fall in crude prices help in oil sector reform …and of a popular trade leader Computation of GDP – conundrums continue Roaring Ro-Ro facility EVM is tamper-proof China invests in India Build close rapport with business leaders CRS, a jewel among managers, is no more. Recognition to role of NBFCs.... Banning booze... Wise Presidents Editor's Says The Jan Dhan bonanza More tributes to GR Where a state respects its litterateurs… The power-full Hindujas Whistle-Stop Tour of Raghuram Rajan Music happens Readers' Mail Land reclamation from sea appears cheaper! GM Technology at last! How Air-India loses customs... The Swadeshi Trump The Ports’ Pasha expands into Tamil Nadu Varuna (rain) in 2015; Vaayu (air) in 2016. Chennai devastated Like Hinduism: many paths to reach God... Editor's Notes Revive development banks... Solar, solar everywhere … A glass full of corruption Breaththrough in malaria control Of course, Gujarat is vibrant Welcome changes that testify to Jayalalithaa’s return to health to the lack of interest on the part of these to focus on original research. This despite the much lower costs of such research in India. The industry which thrived on the protection of a closed economy and the advantage of a vast domestic market, has failed to organise its evolution on healthy lines Towards speedy justice TN – agglomerate land holdings without alienating ownership Sweeter prospects for sugar Airlines in India: cost and space S Ramanathan – a versatile musician, musicologist Modi and the lady There was flood of milk. Reason: no milk commissioner! Adharma of opposition politics CII projects higher growth… Tatas moving out of urea production... L&T: focus on infrastructure and more infrastructure… Marketing expert Balagopal is no more Noble nonagenarians... A Grand Finale for SN’s MS centenary at the US… For whom the bell tolls? GNS - 100: our first subscriber
 
Welcome GST

Strong leaders of regional political parties like J Jayalalithaa and Karunanidhi could defy attempts by the Centre to bring about significant policy changes. With the over-emphasis on welfare measures that result in the proliferation of freebies and massive subsidies, Tamil Nadu’s finances were in bad shape. Remember the state, refusing to reform the power sector? The state delayed the formation of the State Electricity Regulatory Commission, resisted separation of generation and distribution through separate companies (neighbouring Andhra Pradesh did this to great benefit)... The finances of the electricity board were in a mess with regular losses and mounting debts. Jayalalithaa as Chief Minister routinely resisted several proposals of the Centre to the detriment of the state’s economy. She was also unmindful of the harm done to the state’s economy by such an attitude. 

A weak Centre under the UPA, dependent on the support of several regional parties, was unable to prevail over such strong local leaders. Such an attitude has also been giving rise to agitations by special interest groups. We witnessed these in recent times in the opposition to the hydrocarbon project in Vadivasal, the constant agitations by lawyers, farmers and more recently, by government doctors and transport workers. One can witness the impact of a strong Central government with a single party commanding majority in the Lok Sabha. The Modi government has been able to stand firm and not yield to demands considered unfair. One hopes pressure groups would realise the futility of protesting issues that had received extensive support on the national plane. The state leadership should also weigh the overall benefits to society not influenced by demands of sectoral interests. 

The traders’ lobby has gained considerable support and clout in recent years. On 5 May of every year, traders’ associations across the state observe the traders day and show their solidarity by closing all shops! The association presents a list of demands seeking special favours. 

The services sector that includes such trading is estimated to account for over 60 per cent of the GDP, but it has been accounting for less than 10 per cent of total tax revenues. Despite substantial growth traders have been successfully resisting attempts to bring their operation under the tax net. 25 years ago Dr. Manmohan Singh, as finance minister, proposed a simple presumptive tax ,of just Rs. 1400 pa, with no questions asked on books kept. The trader lobby successfully resisted and forced the government to withdraw this tax. State governments also lack efforts in bringing this huge section, quite a portion of this prosperous, under the tax net. 

The GST system, one hopes, would address this issue. This single factor can increase tax revenues substantially. This is yet another area for the Centre to focus. 


Reported On :
Sector :
Shoulder :
RELATED NEWS
ABOUT IE
IE, the business magazine from south was launched in 1968 and pioneered business journalism in south. Through the 45 years IE has been focusing on well-presented and well-researched articles. When giants in the industry stumbled to keep pace with the digital revolution, IE stayed affixed embracing technology.
Read more
 
PRIVACY POLICY
Economist Communications Ltd is committed to ensuring that your privacy is protected.
Read more
TERMS AND CONDITIONS
You agree that your use of this Website and the purchase of the magazine will be governed by these terms and conditions.
Read more
 
CONTACT US
S-15, Industrial Estate,
Guindy,
Chennai - 600 032.
PHONE: +91 44 22501236
EMAIL: indecom1968@gmail.com