scholarly journals GST: Farewell to Multilevel Taxation

2017 ◽  
Vol 3 (1) ◽  
Author(s):  
Amit Kumar Singh ◽  
Ashween Anand
Keyword(s):  
Manufacturing Sector ◽  
Tax Compliance ◽  
State Level ◽  
Task Forces ◽  
Goods And Services ◽  
Long Run ◽  
Efficient Resource ◽  
The Government ◽  
Revenue Efficiency ◽  
Year 2000

On 8th September 2016, President Pranab Mukherjee approved the government‟s flagship Goods and Services Tax (GST) Bill. After going through a long journey of more than 16 years which first started in year 2000 in a Committee headed by Asim Dasgupta, GST will finally come into force from 1st April, 2017. GST is a single „unified‟ indirect tax levied on goods and services that subsumes multiple taxes levied at the Central and the State level. This paper draws attention to the implications of a „comprehensive‟ GST for economic growth, efficient resource allocation, GDP growth, tax compliance and administration, imports and exports, manufacturing sector, tax revenue efficiency and State finances. The findings of various Task forces/Committees conclude that GST may turn out to be a positive-sum game by bringing in “collective gain” for agriculture, manufacturing and trading sectors along with the final consumers and the government. Irrespective of the wide array of opportunities opened up by GST, the government must be mindful of its accompanying challenges such as development of a sound IT infrastructure, tax administration and modern information systems and determination of GST rate, exemptions, etc. The success of the government in addressing these challenges will determine the sustainability of this major indirect tax reform in the long run.

scholarly journals The Nexus between Export and Economic Growth in Tanzania

2019 ◽  
Vol 1 (2) ◽  
pp. p95
Author(s):  
Romanus L. Dimoso (PhD, Economics) ◽  
UTONGA, Dickson (MSc. Economics)
Keyword(s):  
Economic Growth ◽  
Time Series Data ◽  
Series Data ◽  
Test Results ◽  
Causality Test ◽  
Goods And Services ◽  
Long Run ◽  
Causality Tests ◽  
The Government ◽  
Econometrics Analysis

This study explored the causal relationship between exports and economic growth in Tanzania. It analyzed time series data for the period of 1980 to 2015. Economic growth is measured in terms of growth per cent while exports are measured in percentage change of goods and services sold abroad. Econometrics analysis was employed in the due course. Such procedures as testing for the presence of unit root, co-integration and causality were done. Furthermore, the Johansen co-integration and Granger causality tests were employed to examine the long-run relationship among variables. The results of co-integration indicate the existence of one co-integrating equation. The causality test results exhibited causality which runs from economic growth to exports. The results conclude that, in the long run, there is a relationship between exports and economic growth in Tanzania. This study recommends the Government to make efforts to improve exports and eventually, in the long-run, rejuvenating the economy.

scholarly journals Agriculture Sector Credit and Output Relationship in Nepal

2020 ◽  
pp. 33-53
Author(s):  
Arjun Kumar Dahal ◽  
Khagendra Kumar Thapa
Keyword(s):  
Commercial Banks ◽  
Agricultural Sector ◽  
Least Squares Method ◽  
Manufacturing Sector ◽  
Agriculture Sector ◽  
Industrial Sectors ◽  
Long Run ◽  
Integration Test ◽  
The Government ◽  
The Impact

Purpose: The purpose of this study is to find out the condition of priority of commercial banks to provide loans to the agricultural sector and to find the relationship and impact of agricultural loans to the agricultural GDP of Nepal. Objectives: This study aims to compare the condition of loan disbursements in agricultural and manufacturing sectors. It further aims to compare loan percent with growth and contribution to the GDP of the agricultural and industrial sectors and tries to show the impact of agricultural loans to the agricultural GDP of Nepal. Methods: It was based on a descriptive and analytical research design. Statistical tools standard deviation, correlation, regression, etc. are used and Excel, and EViews software are used for the statistical calculations. Statistical calculations and graphs are simultaneously used to show and compare the condition of variables. Results: Commercial banks give higher priority to the manufacturing sector for loans than the agricultural sector. The Johansen Co-integration test indicates no long-run relationship between loans of commercial banks and agricultural output in Nepal. However, the least-squares method, it indicates that a positive causal relationship between agricultural loans and agricultural growth. Implications: The loans of commercial banks directly stimulate the growth of agriculture but the amount of growth is less noticeable. Thus, it is concluded that the commercial bank's loan alone cannot affect and control the growth of the agricultural sector of the Nepalese economy therefore the government should increase its expenditure on the agricultural sector.

scholarly journals Labour Force, National Savings and the Manufacturing Sector Productivity in Nigeria

2020 ◽  
Vol 64 (4) ◽  
pp. 459-473
Author(s):  
Adeyemi Babasanya ◽  
◽  
Olukayode Maku ◽  
Joseph Amaefule ◽  
◽  
...  
Keyword(s):  
Exchange Rate ◽  
Raw Materials ◽  
Manufacturing Sector ◽  
Labour Force ◽  
Industrial Sector ◽  
National Bureau ◽  
Growth And Survival ◽  
Long Run ◽  
Negative Effect ◽  
The Government

The study evaluated the role of sectoral labour force and the national savings on the manufacturing sector output in Nigeria from 1985 to 2019, a period of 35years. Data was sourced from Central Bank Of Nigeria (CBN) statistical bulletin various issues up until 2017, National Bureau of Statistics (NBS), and World Development Index (WDI). Data were analyzed using Vector Error Correction Model (VECM). The VECM result revealed that national savings and labour force have long run positive effect on the manufacturing sector output, while exchange rate and inflation have long-run negative effect on the manufacturing sector output. It could be deduced from this study that national savings, labour force in the industrial sector, inflation and exchange rate are very critical factors that determine the growth and survival of the manufacturing sector. Hence, it was recommended that the government look critically to the manufacturing sector and revamp the sector by making credit facility to the sector, and increase the use of domestic raw materials.

scholarly journals Digital-related economy sectors and regional economy disruption

2019 ◽  
Vol 22 (1) ◽  
pp. 147-162
Author(s):  
Achmad Nurdany ◽  
Anggari Marya Kresnowati
Keyword(s):  
Economic Impact ◽  
Regional Economy ◽  
Manufacturing Sector ◽  
Digital Economy ◽  
Input Output ◽  
Economic Sectors ◽  
Output Analysis ◽  
Goods And Services ◽  
Multiplier Effect ◽  
The Government

While the study of the regional economy and its factors has been well-researched, relatively less is known on the issues for the digital economy sectors affecting the regional economy. Therefore, the aims of this paper are: to investigate the regional economic impact caused by digital economy sectors; to analyze the multiplier effect of these sectors on the output, income, and employment; and to calculate the economic impact of additional investment in the digital economy sectors. The study focuses on the region of East Java Province, Indonesia. The method used in this study is the input-output analysis (13 x 13 aggregation), which generates transaction of goods and services at a certain time. This study uses data from the Central Bureau of Statistics, Input-Output Table of East Java Province year 2015, which  includes 110 economic sectors, which are then grouped into digital related and non-digital related sectors. The result indicates that digital economy sectors have both backward and forward linkages to other sectors in the region. Further finding shows that digital related manufacturing sector has the highest multiplier effect on the output, income, and employment. While investment injection on the digital economy sectors, based on the analysis, will make better disruption on East Java economy. The government of the region should put an emphasis to attract more investment in the digital economy sectors.

scholarly journals Oil Price Fluctuations and the Future of Saudi Arabian Non-Oil Traded Sector: An Empirical Investigation

2017 ◽  
Vol 9 (4) ◽  
pp. 217
Author(s):  
Abdulaziz Hamad Algaeed
Keyword(s):  
Exchange Rate ◽  
Manufacturing Sector ◽  
Government Expenditure ◽  
Testing Procedure ◽  
Dutch Disease ◽  
Oil Price ◽  
Disease Symptoms ◽  
Vector Autoregressive ◽  
Long Run ◽  
The Government

The major focus of this paper is to investigate theoretically and empirically the effects of non-linear oil price changes on Saudi manufacturing (traded) sector covering the period of 1970 till 2015, utilizing structural vector autoregressive (SVAR) approach. The Dutch disease syndrome will be clarified, and the impacts of oil price variations (increase and decrease) are investigated. Johansen’s testing procedure result asserts the existence of stable long-run relationship between real traded sector (MANUFACTURING), oil price increase and decrease, real government expenditure (GOEX), real exchange rate (REX), and the mining sector (MINING). The findings confirm that OILshock(+), and REX influence MANU negatively, while the spending effect, GOEX affects MANU positively. However, this could be attributed to the government efforts to nullify the Dutch disease symptoms. Given, the obtained tests’ results, the exchange rate REX appreciation confirms the existence of the Dutch disease, and consistent with the Dutch disease literature and findings. The Manufacturing sector harmed enough to the degree that government has to subsidize.

Impact of Capital Inflows on Manufacturing Exports and Economic Growth: An Empirical Evidence from Nigeria

2020 ◽  
Vol 12 (1) ◽  
pp. 1
Author(s):  
Abiodun Sunday Olayiwola ◽  
Kehinde Elizabeth Joseph
Keyword(s):  
Economic Growth ◽  
Positive Impact ◽  
Manufacturing Sector ◽  
Capital Inflows ◽  
Annual Data ◽  
Economic Policies ◽  
Distributed Lag ◽  
Long Run ◽  
Oil Export ◽  
The Government

A lot of studies have examined the relationship between capital inflows and economic growth in Nigeria; Most of these studies examined either oil export, non-oil export or total exports, without specific emphasis on manufacturing export; given that manufacturing export is fundamental to economic growth. In this case, we examined the dynamic impact of capital inflows on manufacturing exports and economic growth in Nigeria between 1981 and 2017 using annual data. Data collected were analyzed using Autoregressive Distributed Lag (ARDL) econometric techniques and the results revealed that capital inflows have significant and positive impact on economic growth (t= 4.42884, p< 0.005) both in the short and long run; and positive but statistically insignificant impact on manufacturing exports (t= 0.73, p> 0.05). Therefore, the study concluded that capital inflows have significant impact on economic growth but no impact on the manufacturing exports in Nigeria; and we recommend that the government and monetary authorities’ in Nigeria should formulate economic policies that will promote manufacturing exports through adequate and efficient infrastructural facilities that would encourage the needed capital inflows to the manufacturing sector and increase the production of goods for local consumption and export.

Towards a Comprehensive Index of Labour Law Reform and Ranking of States

2021 ◽  
pp. 097674792198914
Author(s):  
Bhaskar Dasgupta
Keyword(s):  
Manufacturing Sector ◽  
State Level ◽  
Research Direction ◽  
Law Reform ◽  
State Governments ◽  
Labour Law ◽  
Comprehensive Index ◽  
Sector Performance ◽  
The Government ◽  
The Relationship

Since the pioneering paper by Besley and Burgess (2004) claimed to have found a positive relationship between flexible and pro-employer labour regulations with manufacturing sector performance, there has been an increasing pitch among policymakers to rationalise India’s complicated labour laws. Several state governments have since undertaken significant reforms in their respective labour law regimes. During the recent pandemic-induced lockdown, some states have gone to the extent of temporarily suspending labour laws to kick-start the economy. The Government of India has also recently consolidated the fragmented labour laws by integrating them into four functionally arranged Codes. But the regulatory measure developed by Besley and Burgess, the very basis of their conclusions, has been criticised on the ground of narrow coverage, methodological inconsistency, misclassification of amendments, etc. This article, therefore, attempts to construct a comprehensive Index by mapping state level-amendments in five important labour legislations over the seven-decade period from 1949 to 2017 and coding those amendments. The article is organised as follows: After the context-setting introductory section, the second section summarises the existing evidence on the relationship between labour regulations and manufacturing sector performance in India. The third section discusses the limitations of Besley–Burgess Index. The fourth section briefly mentions the research direction post publication of Besley–Burgess paper. The fifth section develops a comprehensive Index, and it discusses how it improves the BB Index. The sixth section concludes the article. JEL: J3, K3

scholarly journals FOREIGN CAPITAL INFLOWS AND MANUFACTURING SECTOR GROWTH IN NIGERIA

2021 ◽  
Vol 25 ◽  
pp. 235-260
Author(s):  
Idris Ahmed Sani ◽  
Ajengbe Abidemi Samuel ◽  
Wada Emmanuel Ome
Keyword(s):  
Gross Domestic Product ◽  
Foreign Capital ◽  
Positive Impact ◽  
Manufacturing Sector ◽  
Capital Inflows ◽  
Domestic Product ◽  
Long Run ◽  
Foreign Capital Inflows ◽  
The Government ◽  
The Impact

The study examined the impact of foreign capital inflow on manufacturing sector growth in Nigeria using time series data from 1986 to 2019. The study specifically sought to examine the causal relationship between foreign capital inflows and the growth of the manufacturing sector in Nigeria in the long run The study employed the Autoregressive Distributed Lag (ARDL) estimation technique to account for the impact of foreign capital inflows on the manufacturing sector growth in Nigeria. The study utilized the Contribution of Manufacturing Sector to Gross Domestic Product (MGDP) as proxy for manufacturing sector growth. Manufacturing sector growth was the dependent variable while foreign direct investment (FDI), foreign portfolio investment (FPI) and foreign Aid (FOA) were the independent variables, and were regarded as proxies for foreign capital inflows. The study results revealed that foreign capital inflows through the FDI had a significant positive impact on contributions of the manufacturing sector to gross domestic product (GDP). The study also revealed that foreign capital inflows through the FPI had a significant positive impact on contributions of the manufacturing sector to the GDP. The study further revealed that foreign capital inflows through the FOA had a significant positive impact on contributions of the manufacturing sector to the GDP. Based on these findings, the study has recommended that the Nigerian government should promote foreign capital inflows through the FDI in order to achieve the desired level of manufacturing sector growth in the country’s economy in the long run. The government should also encourage foreign capital inflows through the FPI in order to attain the desired level of manufacturing sector growth in the Nigerian economy. Finally, the government should also support foreign capital inflows through the FOA in order to attain the desired level of manufacturing sector growth in the Nigerian economy in the long run.

scholarly journals Impact of Demonetization on Indian Banking Sector

2021 ◽  
pp. 722-726
Author(s):  
Syeda Wajeda Hussaini
Keyword(s):  
Banking Sector ◽  
Prime Minister ◽  
Positive Impact ◽  
Tax Compliance ◽  
Indian Economy ◽  
The Core ◽  
Long Run ◽  
Short Run ◽  
The Government ◽  
Initial Dip

Demonetization refers to the process of stripping of currency unit of its status as legal tender. Demonetization was announced on 8th November, 2016 by the honorable Prime Minister, Mr. Narender Modi with the objective to remove black money, corruption, terrorism and counterfeit notes. Demonetization was a massive step taken by the government of India which had an immense effect on the Indian economy especially on the banking sector as banks forms the core sector of Indian economy. The study aims at finding an insight of impact of demonetization on banking sector, the results indicates demonetization had an initial dip in the short run but in the long run demonetization is going to have a positive impact on the Indian economy in the form of reduced corruption, greater digitalization, tax compliance and better formalization of the Indian economy.

Suggestions and Constraints Perceived by Shopkeepers towards Goods and Services Tax

2020 ◽  
Vol 36 (2) ◽  
pp. 51-54
Author(s):  
Shatakshi Semwal ◽  
Ella Rani ◽  
Vandana Verma
Keyword(s):  
Central Government ◽  
Service Providers ◽  
Tax Compliance ◽  
Total Sample ◽  
Primary Objective ◽  
Small Scale ◽  
Tax Rate ◽  
Goods And Services ◽  
The Government ◽  
Taxation System

The Goods and Services Tax (GST), implemented on July 1, 2017 is regarded as a major taxation reform till date implementedin India since independence. The primary objective behind development of GST was to subsume number of indirect taxes under one umbrella which simplifies taxation system for service and commodity businesses. GST was expected to convey various advantages to economy as an indirect tax and simplifies the workload of shopkeepers but it resulted in lack of clarity and time consuming process. With this assumption, study was planned to find out the constraints faced by shopkeepers and suggestions given by them regarding the implementation of Goods and Services Tax (GST). The study was carried out purposively in Hisar city of Haryana State, where, thirty shopkeepers from five respective section were selected i.e. Foods, Clothing and Textiles, Electrical appliances, Medical and Cosmetics and Communication and Transportation; thus making total sample of 150 respondents. Results from data inferred that majority of the respondent’s complained that filing GST has been more complicated now, there is increased tax compliance, high competition faced by shopkeepers and changing tax rate slabs by the central government is confusing them and making it difficult to understand the process. Furthermore, majority of the shopkeepers also suggested that there should be reduction of legal formalities, tax should be collected by the government at the manufacturing level itself and they don’t have to file for returns at later stages. They also suggested that registration should be there for all the traders and service providers with exemptions for small scale suppliers from collecting and remitting GST and casual trade category should be abolished.

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