S&P downgrades Oman’s sovereign rating as the country grapples with plummeting oil wealth

The impact of lower oil prices has been particularly bad for the economy of Oman, the biggest oil producer in Gulf outside of OPEC. An uncertain scenario regarding oil prices owing to a resurgence of coronavirus cases leading to muted demand has cast a shadow on the country’s finances. The precarious state of Oman’s public … Read more

GST slashed tax rates doubled taxpayer base to 1.24 crore: Finance Ministry

The Finance Ministry on Monday said GST has reduced the rate at which people have to pay tax, helped increase compliance and doubled taxpayer base to 1.24 crore. In a series of tweets, on the first death anniversary of former Finance Minister Arun Jaitley, the ministry said before goods and services tax ( GST), the … Read more

View: States are the biggest losers in GST sharing formula

GoI is uniquely positioned to raise resources in comparison to states. It must also address the growing demand to extend the GST compensation period to 10 years, given how the reality has turned out. Synopsis ​​The track record so far of the present government toward states demonstrates a betrayal of trust so crucial not just … Read more