Tracking Government Subsidies

Here’s a look at the Government’s subsidy outflow during 2006-07 and 2009-10. Look at the chart for the percentages and the breakup in the ‘Others’ section. It will give you an idea. Other Subsidy Heads: *For export promotion and market development*For new industrial units in backward areas*To General Insurance Corporation (GIC) for Central Corporation Insurance Fund*For … Continued

When We Used To Pay 93% Tax

“Do you know what income tax rates were in those days?,” asks the old-timer. “No,” you say somewhat skeptically. “90% my young friend, the Government of India took away everything. What do you think started the chain of black (unaccounted) money and corruption? It was crippling tax rates.”   Many of us have heard that … Continued

Poor Clueless Officers

IndiaSpend decided to find out how a group of senior Indian Foreign Service (IFS) bureaucrats valued their apartments that they all bought in the same New Delhi Society in the late 80s. The IFS Apartments in question are at Mayur Vihar, Phase I, New Delhi. We went through the January 2011 filings of immovable properties … Continued

The State Of State Finances

Somewhere, deep within the many books of accounts that are with Government (Ministry of Finance / Planning Commission) lays a unified view of the finances of the each of the 28 states and 7 Union Territories (administered by the centre). Unfortunately, much as we are challenged, deep dives are not simple.   While IndiaSpend’s charter … Continued

Did You Pay Your Taxes?

Okay, we diversify again but there is a lot of interesting information that’s surfacing in the last few weeks which has economic relevance so we thought we would bring it to your notice. The number of Permanent Account Numbers (PAN)  issued by India’s Income Tax Department is now at 121 million. This figure stood at 95 … Continued

Government Expenditure On Education

Every year, India spends $90 billion on education. About 35% of this or $31 billion is the Government’s share. The private sector spends around $50 billion. Here’s a snap shot of some general central government education spend figures for 2010 for areas (Tibet, Madrassas) you may not have heard of but would be interested to … Continued

Investing In Good Neighbours

Ever wondered what the Government spends on staying in the good books of our neighbours? Here’s a look at what the government spent on our neighbouring countries in the last year.   As you can see from the figure above, we spent Rs 69 crore on Sri Lanka last year. This year however, we have … Continued