Best of BS Opinion: Securing fiscal health, rethinking aviation policy

Illustration: Ajay Mohanty
The tax department recently decided to extend by three months the government’s deadline limiting the reassessment of tax cases from six to three years. As a result, companies, businesses and professionals, even retired ones, have been hit with notices. This move, writes Debashis Basu here, flies in the face of the government’s commitment for a “fair and just system” and is also a symptom of the arbitrary manner in which the tax department behaves.

Tamal Bandyopadhyay explains why we should expect no action from the monetary policy committee meeting this week. The focus, he says, is firmly on growth. Read it here

Ajit Balakrishnan points out that algorithms are increasingly acquiring the functions of the traditional “shoeshine and a smile” salesman in a range of goods and services. Read it here

The top edit argues that despite an improvement in the overall fiscal position, the government must prepare itself for medium-term challenges. Read it here

The second edit points out that the government’s decision to impose a price cap on air fares has proved counter-productive. Read it here 
QUOTE OF THE DAY
 
“The Congress party was the James Bond of spying when in power”
 
Mukhtar Abbas Naqvi, Rajya Sabha deputy leader
 



Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel