The Goods and Services Tax GST is another such undertaking that is expected to provide the much needed stimulant for economic growth in India by transforming the existing base of indirect taxation towards the free flow of goods and services. GST is also expected to eliminate the cascading effect of taxes.
For some, it is a cash cow and a commercial bonanza; to others, a waste of money.
Is hosting the tournament worth it? Ever wondered what the World Cup is worth? The World Cup is, however, worth much more than two human figures cast in 18 carat gold.
In turn, 62 percent of men and 52 percent of women suggested that if their national team did well, it would boost their morale. In short, there is a seductive argument that says: After all, no politician hires economists to tell them a tournament will be a waste of money.
There are also indirect economic and social costs.
This comes on top of significant existing expenditure on a favela clearance programme — Operation Pacification — that has resulted in countless gang leaders, drug barons and other criminals being killed.
But in spite of rising security expenditure, crime in Brazil continues to rise. Whether they be favela dwellers, bus passengers or World Cup winning strikers, it is clear many Brazilians think the tournament is simply not worth it. Many of us tend to conveniently forget such matters when the World Cup starts and everyone celebrates the football feast ahead.
Evidence from previous global sporting mega events indicates that they crowd out other tourists from host nations. In other words, tournaments like the World Cup can be a zero-sum game: Another negative effect of the World Cup extends far beyond the host nation.
In Europe, many games will kick off late in the evening; in North America they fall in the middle of the working day; in Asia, the middle of the night. Watching football may be fun, but no boss wants to see half their workforce turn up late, tired or drunk.
For the likes of FIFA, it is a cash cow and a commercial bonanza. A favela dweller in Rio could well see it as a waste of money, cash that should have been spent on housing, public transport and welfare programmes.
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