Newspaper Editorials With Hindi Vocab 18/1/2016

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The Times of India: Winds Of Change

Taiwan's shifting politics opens the door to greater Indo-Taiwanese cooperation

In a historic election in Taiwan, Tsai Ing-wen has become the first woman president in the Chinese-speaking world.

The result, which marks a significant political shift for the East Asian island state, also holds out प्रतिरोध करना important geopolitical implications  संबंध. For the last eight years Taiwan's ruling Kuomintang party has followed a policy of engagement धंधा  with China that's seen relations across the Taiwan Strait  कठिन improve. But Taiwan's own economic slowdown coupled with a growing income gap led to resentment  नाराजगी  against Kuomintang's pro-China policies.

Against this backdrop पृष्ठभूमि, Tsai's Democratic Progressive Party campaigned on the platform of rejuvenating  फिर से जवान बना देना the Taiwanese identity and unfettering मुक्त करना Taiwan from China. This, according to the Tsai camp, involves boosting Taiwan's engagements with other Asian nations. And if Tsai does revive  फिर से ताज़ा करना Taiwan's Go South policy it will complement  पूर्ण कर देना India's Act East push. In fact, over the last few months many Taiwanese companies such as Foxconn and Wistron Corp have committed to increase their investments in India. Given Taiwan's expertise in manufacturing and managing global supply chains, this is the perfect boost to the Make in India initiative.

Plus, with China's economy also slowing and Chinese labour becoming expensive, it makes business sense for Taiwanese companies to shift their production bases to India. In that sense, India and China are competing  प्रतियोगिता करना economies while Taiwan's high-tech industries are the perfect input for India's low and medium manufacturing base.Even though New Delhi is used to looking back over its shoulder at Beijing for everything concerning  के विषय में Taiwan, there's no reason why New Delhi and Taipei can't enhance अधिक करना institutional cooperation. China has intense अत्यन्त तेज trade and investment relations with Taiwan, so it can't possibly object if India adopts the same course. With the new Taiwanese leadership promising a more robust  मजबूत approach to the outside world, New Delhi should not fail to leverage लाभ उठाना this.

The Economic Times: This Tax Reform is Entirely Up to Centre

The Centre needs to walk the talk on indirect tax reform. The fact of the matter is that the Centre, glaringly सुस्पष्ट रूप से , prefers not to provide input tax credit and set-offs  शुरू करना for entire segments like capital goods and whole sectors like petroleum products, never mind that we have long had a dual value-added tax (VAT) system at the Centre and the states, with tax only payable on the value added. As the recent Arvind Subramanian committee report points out, no input tax credits are allowed for the Union excise duties on capital equipment acquired  प्राप्त for use in such key industries as transportation, infrastructure, distribution or construction. The purported reason is that they are outside the scope of manufacturing. As if manufacturing takes place in self-contained cocoon कोष s.

Meanwhile  इसी बीच में, the Centre has -rightly again raised the excise duty on the main petro-products like diesel and petrol, giv en the drop in international oil prices.

The latest hike is the second in less than two weeks. But in tandem  एक के पीछे एक की क्रमबद्धता, the government surely needs to extend VAT for automotive fuel. True, petro-products provide hugely disproportionate tax revenue for the government. But it simply amounts to tax-on-tax and inefficient cascading प्रपात की तरह गिरता हुआ rates, and we really ought to modernise आधुनिकीकरण करना consumption taxes and widen the tax base. Abroad, in Europe, for instance, high taxes on oil coexist एक साथ होना with VAT on such items.

We need a similar system here, so as to modernise logistics, transport and distribution. The Subramanian panel estimates blocked input taxes on capital goods adding up to as much as 75% of total investment of `. 7.4 lakh crore in plant and machinery in 2014-15. The government must create a functional VAT of central taxes, regardless of when the goods and services tax (GST) kicks in. तोड़ना

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