India’s Goods and Services Tax (GST) will be a game changer!

India was founded on the ideology of local self government or panchayati raj as espoused by MK Gandhi. It has a federal political structure similar to the United States and Canada. As per India’s constitution, the federal government has powers over defense, foreign affairs, railways, direct taxation, certain indirect taxation etc. mentioned in the Union List (97 items). The state governments have powers over land, law and order, certain other indirect taxation etc. mentioned in the States List (66 items). There are several other items that are on a Concurrent List (47 items) shared by both the state and the federal governments. More...

Outlook For Indian State Run Banks Beginning To Sour

Interest rates increases by the Reserve Bank of India, slowing credit growth and shrinking net interest margins are not the biggest of problems for the Indian State Run Banking Sector. The speed with which loans are going bad in an economy that continues to grow nominally at 13-14% per year are alarming. More...

The Challenge Of The Small Indian Business

Over the last decade the Indian economy has completely opened up and barriers to trade have been almost completely eliminated. This has resulted in a tremendous increase in the standard of living of the average Indian. The productivity of the Indian economy has improved as well. The casualty in the process has been the Indian small business. More...