The Finance Bill 2017- Controversies

finance bill 2017

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The Lok Sabha passed the Finance Bill 2017 on 29th March this year.

The Finance Bill is passed every year after the presentation of the Union Budget to turn the budget into law. But, apart from the usual tax proposals, this year the Finance Bill contains several amendments.  This article discusses the controversies surrounding the bill.

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The Maternity Benefits (Amendment) Act, 2016- Pros And Cons

Maternity Benefits Act
Introduction

In February 2017, the Lok Sabha passed the Maternity Benefits (Amendment) Bill, 2016. The Bill had been passed by the Rajya Sabha in August 2016

This bill is an amendment to the Maternity Benefits Act, 1961. This Act protects the employment of women during the time of her maternity and entitles her to a ‘maternity benefit’ – i.e. leave from work with full wages paid.

The act is applicable to all establishments employing 10 or more persons.

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The Twin Balance Problem With Indian Characteristics

Twin balance sheet problem

The Economic Survey of 2016-17 has devoted an entire chapter to the Twin Balance Sheet (TBS) problem.

The balance sheets of both Public Sector Banks and corporates in India are in terrible shape.

The Non-performing Assets (NPAs) of the Public Sector banks have increased to alarming levels. Currently, the NPA ratio stands at 9.1 % of gross loans. This NPA problem in the public sector banks has been linked to the rising indebtedness in the corporate sector. This is the twin balance sheet problem.

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Economies (Politics) of Scale

Yogi Adityanath

The most populous state of the largest democracy just witnessed the election phenomenon like never before. Collaborations and allegations surfaced among many other things. It would not be wrong to say that divided minorities in Uttar Pradesh came together and made a clear yet intelligent choice of bringing the Bhartiya Janata Party to power.

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Why Demonetisation not affect GDP?

Demonetisation

It was expected that demonetisation would have an adverse impact on the GDP of the country.  This is because demonetisation abruptly pulled out 86 % of the currency in circulation from the economy and caused major disruption, especially in the informal sector which is predominantly cash based and account for 45 % of GDP.

(For a basic understanding on demonetisation, you could read the following articles:

  1. Demonetisation of currency in India: Explained
  2. The Impact of Demonetisation
  3. Should India make a transition to the cashless economy?)

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