#policy reforms

Introduction Atif Ikram Sheikh, President of the Federation of Pakistan Chambers of Commerce & Industry (FPCCI), has emphasized the urgent need for a Software Technology Park (STP) in Karachi. This initiative aims to create a conducive environment for the export of IT and IT-enabled Services (ITeS), addressing the city’s infrastructural challenges and unlocking its potential in IT exports. The…

In a recent announcement, the Central Board of Indirect Taxes and Customs (CBIC) has revealed that the indirect tax collections for the Financial Year 2023–24 have surpassed the Revised Estimates (RE) by a significant margin. This achievement, attributed to the diligent efforts of tax officials, has been lauded by CBIC Chairman Sanjay Kumar Agarwal, who described it as a testament to professionalism, teamwork, and perseverance within the CBIC community.

Exceeding the revised estimate of Rs 14.84 lakh crore, the indirect tax collection for FY24 has been described as exceeding expectations. This remarkable feat was made possible by a record Goods and Services Tax (GST) mop-up, marking a milestone in revenue generation for the government.

Chairman Agarwal expressed his appreciation for the relentless efforts of every member of the CBIC, acknowledging their invaluable contributions throughout the year. The gross GST collection for 2023–24 stood at Rs 20.18 lakh crore, representing a substantial increase from the previous year’s figures.

The targets set for central GST, excise duty, and customs were also surpassed, reflecting the robustness of India’s tax revenue system. Despite the challenges posed by the global economic landscape, India’s economy has demonstrated resilience, recording a world-leading growth rate. According to estimates by the National Statistical Office (NSO), India is projected to grow at 7.6% in 2023–24, fueled by domestic consumption and government expenditure.

The consecutive quarters of over 8% growth from April to December underscore the country’s economic momentum. Various agencies, including SBI Research and Moody’s, expect GDP growth for FY24 to be around 8%, while others like Fitch and Barclays have raised their forecasts to 7.8%.

There has never been a better time to invest in India: PM Modi

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Prime Minister Narendra Modi on Wednesday pitched for higher foreign investment in India. He listed sectors such as health care, civil aviation, defence and space beside others for investment opportunities.

“It has never been such a best time to invest in India,” Modi said while addressing India Ideas Summit hosted by the US-India Business Council (USIBC). He highlighted the fact that…

Issues in the Draft National E-commerce Policy

Why in news?

Union government has released Draft National e-Commerce policy with a two-week response deadline ending on March 9.

What are the rulings on data privacy in India?

In 2018 Supreme Court recognized the ‘Right to Privacy’ as a fundamental right, it underscored the need for a balance between data regulation and individual privacy with an emphasis on protecting the autonomy of…

by Beatriz Pont, Senior Analyst, Directorate for Education and Skills Let’s be honest, implementing ambitious reforms in education is not simple. Change takes time, often longer than a politician’s 4 year term, and they may face conflicting priorities or even lack evidence on what would work best. More than 12% of government expenditure is invested in education to improve results and enable citizens to benefit from good education systems. Still, 21.5% of 15 year olds don’t reach the minimum level of skills required to function in today’s societies.  The new OECD book Education Policy Outlook 2015: Making Reforms Happen looks into more than 450 education reforms adopted across OECD countries during the past 7 years. Written to help policy makers with policy options and country examples, it shows trends and lessons that can contribute to make a difference in their reform efforts. Countries share common challenges and are defining policies accordingly: targeting inequality and ensuring completion and effective transitions into tertiary or the labour market, strengthening the delivery of education in schools, using data for accountability and improvement, and steering and implementing policy effectively. Reviewing reforms implemented shows that many countries are using education as a way out of the crisis: numerous reforms focus on preparing students for the future, especially in vocational education and training and tertiary education. Reforms are also prioritising the quality of teachers and teaching, with almost 1 in 4 reforms in this area. Investing in supporting disadvantaged students and schools is at the heart of many reforms. In critical times like today, we need to invest to make sure that we deliver the best possible education for our children. They are our future. Good reforms are not only about design. They are about making sure that policies are well implemented and that they have an impact where needed the most. Regrettably, from our study, only 1 in 10 reforms are reported as having evaluations. And we know that there are a number of key issues for success in making reforms happen: adapt the type of reform to respond to the concrete challenges, focus on the classroom and the learning and not on processes, focus on developing capacity of teachers and leaders, engage stakeholders from early on, and make reforms sustainable for the longer term. Reforms are not just about strategies, white papers and regulations; they must be transformed into better outcomes for our youth and our future.  Review and compare countries on the Data Viz 

Links:

Press release: Success of education reforms threatened by lack of oversight, says OECD

Education Policy Outlook

Country profiles

Work on Vocational Education and Training (VET)

PISA 2012 Findings

Policy Reforms Could Save $4,440 a Year

Regulations are affecting how much many Americans pay in rent. (Photo: Jonathan Ernst/Reuters/Newscom)

Economic freedom is a matter of principle, but it’s also a boon to family budgets.

Just 12 economic policy reforms would save the average household $4,440 a year. Opening up markets to more competition, treating outsiders and insiders equally, and squeezing out bureaucratic…