The Moral Economist~I

While for Smith a nation‘s economic state helps define its social and political structures, he categorically stated that the moral character of a people is the ultimate measure of their humanity. Smith offers models for how people should treat themselves and others. A blue-print of a just society was also offered by him in which the society concerns itself with its least well-off members, not just those with economic success. He had great belief in free market, yet in this system he did not want to see human beings merely as homo economicus

PM appeals to states to reduce taxes on fuel

In this connection, Modi noted that states like Karnataka and Gujarat undertook tax reduction for the welfare of the people despite revenue loss while their neighbouring states earned revenue by not reducing the tax.

CBIC clarifies dual taxes for inverters

The decision would force customers to bear an additional five-eight per cent of expenses on the overall tax payment amid a power crisis surging demand for inverter system.