If NITI Aayog being anti-national, we could do with more; here’s why
By: The Financial Express | Published: May 5, 2017 5:47 AM
The Swadeshi Jagran Manch (SJM), an affiliate of the RSS, according to a news report in Business Standard, has written to the prime minister accusing NITI Aayog of pursuing an agenda that is “against national interests and fundamentally anti-poor” and goes on to accuse NITI Aayog and its bureaucrats of working in a “concerted fashion to lobby for crass commercial interests of the pharmaceuticals sector”.
Much of this, of course, stems from some of the recommendations in NITI Aayog’s Three Year Action Agenda that was released recently. What has clearly got SJM’s goat is the statement that says “there is a trade-off between lower prices on the one hand and quality medicine and discovery of breakthrough drugs on the other … it is therefore recommended that the Drug Price Control Order may be delinked from the National List of Medicines”…(see more)
Adani signs steel supply deal with Australian group Arrium:
PTI | MAY 4:
Energy giant Adani today signed a 74 million dollar landmark deal with Australian steel group Arrium to buy steel for a 400-km rail line for its controversial Carmichael coal mine project.
Under the landmark deal, Arrium’s division OneSteel Manufacturing Pty Ltd will supply 54,000 tonnes of steel to build the rail line linking Adani’s proposed coal mine in central Queensland with the Abbot Point port. “This is a landmark deal for the Galilee projects,” Adani Australia’s Head of Country and CEO Jeyakumar Janakaraj said.
“Adani is continuing to gain momentum. The North Galilee Basin rail project is an essential open access, multi-user element to open the Galilee basin not only for the Carmichael mine but also other projects,” he said…(see more)
GST rollout to see emergence of 12 new warehousing hubs:
May 4, 2017
No one knows yet if the implementation of the goods and services tax (GST) will be inflationary. The Government would like us to believe it will not be. Because multiple taxes at the Central and State levels are to be subsumed into GST, and full credit allowed for taxes paid through the value chain to businesses, the cascading effect would mostly end when the new taxation regime replaces the existing one.
The lower impact of cascading taxes would normally have a calming effect on prices and even lower several prices, thus cooling inflation. Taxes on services would be higher and so there would be some inflationary push from services consumption.
However, consumption is not limited to tax-paid items and services from the formal sector. A large part of the economy is cash-based, where invoices are rarely issued by the seller of goods or provider of services. This holds true for business-to-consumer transactions and for business-to-business also. Many businesses choose to buy from such vendors as it means getting things cheaper…(see more)