Empowering Indian Govt.

& Corporate
Competitiveness- Role of
Quality Spending& GST
SECTION – E
201831011 Ankita Gandhi
201831019 Himanshu Goyal
201831036 Sagarika Nayyar
201831042 Sayed Sharzil Ali
201831045 Shubham Tiwari
Empowering India
 Governance is a challenge in a country as vast, diverse and rapidly
developing as India.

 That’s where new technologies intervene and enable large-scale

transformation and help in the implementation of ambitious
government plans.

 The government has been spearheading radical digitisation to

induce economic inclusiveness and social transformation, through
initiatives like, ‘Digital India’, ‘Make in India’ and Skill India. India, as
a result, is gearing up for an era of increased digitization
NATIONAL MISSION ON EDUCATION
USING ICT
 The National Mission on Education through Information and
Communication Technology (NMEICT) has been envisaged as a Centrally
Sponsored Scheme to leverage the potential of ICT, in teaching and
learning process for the benefit of all the learners in Higher Education
Institutions in any time any where mode.

 It is a landmark initiative of the Ministry of Human Resource Development to

address all the education and learning related needs of students, teachers
and lifelong learners.
Corporate Competitiveness
 Tax incentives for growth-stage startups
For growth-state startups, the government should consider tax
incentives, especially for social impact-focused fintech companies. At
present, there are tax sops for startups that have been incorporated
between 2016 and 2021, with a tax exemption for three consecutive
years out of seven years. Growth stage startups (those incorporated
between 2010 and 2016), are deprived of these benefits. However, it is
at this stage that growth stage start-ups start competing at a bigger
scale nationally and internationally. In order to be competitive,
benefits of tax sops for early-stage startups need to be extended to
growth stage startups as well.
 Support for R&D, women entrepreneurs and AI

The government needs to provide support for R&D. Currently, only the
Singapore government offers a 400 percent tax break for R&D startups.
The Government of India could take a leaf from Singapore and
encourage women entrepreneurs, especially those involving
fundamental research in areas like AI in affordable healthcare,
renewables and financial inclusion. Tax breaks and seed funding
support will be some steps in the right direction to actively promote
women entrepreneurs working with and in developmental sectors.

 The Centre earmarked Rs 93,847.64 crore for the education sector for 2019-
20, an increase of over 10 per cent from the last budgetary allocation.
GOODS AND SERVICE TAX (GST)
What is GST Bill?
 The very idea behind the possible implementation of the GST Bill is to unify
taxes that we pay on goods and services into one single entity. Goods are
essentially every product that is used by individuals and with the current tax
system, citizens end up paying not just one type of tax for a product but
many for just one product or service. The goal of this bill is to streamline
these multiple taxes into one single system.
 Central Excise Duty, Special Additional Duty of Customs, Additional Duties
of Excise and Customs, Service Tax and other surcharges would all be
replaced by Central Taxes GST. Similarly VAT Entry Tax, Purchase Tax,
Entertainment Tax, taxes on betting, lotteries, state surcharges would be
replaced by State Taxes GST.
The key takeaways of the 32nd GST Council
meeting are as follows:

 Increase in GST registration limit from Rs 20 lakhs up to Rs 40 lakhs for

suppliers of goods.
 Changes in the existing composition scheme made by increasing the
turnover limit to join the scheme up to Rs 1.5 crores, tax payments to be
made quarterly and returns to be filed annually starting 1st April 2019.
 New composition scheme is introduced for service providers and those who
supply services along with goods; the Turnover limit set is Rs 50 lakhs and the
Tax rate is fixed at 6%.
 No rate cuts were announced this time.
 Calamity cess up to 1% for up to 2 years will be charged for supplies made
within the State of Kerala.