Settle litigation for revenues, avoid new taxes in Budget: SBI report

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Ahead of the Union Budget, economists on Tuesday pitched for avoiding new taxes and urged the government to mount “honest attempts” to settle past litigations to raise resources instead.


Given the pandemic and the resultant lessons, an additional expenditure of over Rs 2.5 lakh crore will have to be provided on the healthcare front, the economists at the country’s largest lender said, adding the government spent only 1 per cent of the GDP under this head in FY21.



“One suggestion. There must not be any new taxes in the Budget. Let us have a tax holiday budget, with carefully crafted policies for immediate fiscal lubrication.


“A game changer in the budget could be an honest attempt by the Government to settle the cases under tax litigation once and for all,” they said in a note, adding that as of data available till FY19, the total amount under dispute was around Rs 9.5 lakh crore.


The amount under litigation includes Rs 4.05 lakh crore in corporation tax, Rs 3.97 lakh crore stuck in income tax cases and another Rs 1.54 lakh crore on account of commodities and

Advertising volumes grow 10% in 2020, Dettol steals show: BARC data

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Growth in ad volumes for 2020 was up 10 per cent from a year ago, with the recovery being sharp in the second half of the year when the Unlock phase began

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BARC | Dettol | advertising

Calendar year 2020 was disrupted by the Covid-19 pandemic and the subsequent lockdown. Yet, a look at the full-year volume numbers shared by the Broadcast Audience Research Council of India (BARC) shows that top advertisers increased their visibility significantly during the period.


Growth in ad volumes for 2020 was up 10 per cent from a year ago, with the recovery being sharp in the second half of the year when the Unlock phase began.



such as Hindustan Unilever (HUL), Reckitt Benckiser (RB), Procter & Gamble and ITC retained their position as the country’s top four advertisers during the year, though HUL and RB increased their ad volumes sharply by 30 per cent and 37 per cent each.



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Days Before Trump Exit, US Rebrands Cuba State Sponsor Of Terror

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President Donald Trump’s outgoing administration on Monday returned Cuba to the US blacklist of state sponsors of terrorism, erecting a last-minute roadlock to expected efforts by President-elect Joe Biden to ease tensions.

The terror designation severely hampers foreign investment and can only be removed after a formal review by the Biden administration, meaning it may remain in force for months.

With nine days left in office, Secretary of State Mike Pompeo cited Cuba’s ties with Colombian rebels, alliance with leftist Venezuela and sanctuary to several US fugitives in justifying the blacklisting.





US Secretary of State Mike Pompeo, seen in March 2020, has redesignated Cuba as a state sponsor of terrorism
 AFP / ANDREW CABALLERO-REYNOLDS

“With this action, we will once again hold Cuba’s government accountable and send a clear message: the Castro regime must end its support for international terrorism and subversion of US justice,” Pompeo said in a statement, referring to former leaders Fidel and Raul Castro.

“The United States will continue to support the Cuban people in their desire for a democratic government and respect for human rights, including freedom of religion, expression and association,” he said.

Then-president Barack Obama in 2015 delisted Cuba as a state sponsor

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