Bhaskar Kanungo Knihy

The book explores the relationship between employment and national development, focusing on the Indian government's initiative to boost job creation through foreign direct investment in the retail sector. It discusses the potential for both modern and traditional retail to coexist and thrive in a competitive market, aiming to generate ten million new jobs. However, it critiques the government's vague projections regarding job quality and specifics, raising questions about the actual impact of such investments on employment in India.

The book explores the implications of foreign direct investment (FDI) in multibrand retail trade, arguing that it could transform consumer experiences and improve the dire conditions faced by farmers. It critiques the government's tendency to blame the retail system for agricultural woes instead of addressing flawed policies that have historically favored corporations over farmers. The narrative emphasizes that the real beneficiaries of agricultural policies are often agro-companies, rather than the intended recipients, highlighting the disconnect between policy intentions and outcomes.

Government of India, in order to usher indirect tax reforms, intends to introduce Goods and Service Tax (GST) in India. Under GST system a tax on goods and services, is levied at each point of sale of goods, supply of goods along with provision of services. Introduction and implementation GST will be a major breakthrough in the taxation history of India. If implemented properly, GST can help in widening of tax base in India. Despite its ambitious project and mammoth task of tax reform, in GST regime, goods and services are not differentiated as they move through the supply chain. GST is levied on the value added at each stage of sale and purchase or supply with an inbuilt credit mechanism such that the tax is a pass through for businesses, and the tax burden is borne by the ultimate customer. With the introduction of GST, the responsibility to collect tax on goods and services from customers will become the responsibility of sellers or service providers. Before depositing the collected tax to the exchequer, sellers and service providers deduct the tax they have already paid during the course of purchase of goods and service aimed for value creation.