Poor performance of the banking, oil and exploration industries have impacted corporate tax collections.
The deficit for the first five months of the year stood at 96 per cent of the full-year target of Rs 5.46 lakh crore despite cut in capital expenditure in August.
A corpus of Rs 20,000-30,000 crore is under consideration, to narrow the input tax credit cycle and facilitate their working capital requirements.
The forthcoming Budget, the last full one before the 2019 Lok Sabha elections, is expected to contain a number of sops and feel-good announcements, especially regarding social sector schemes.
The government plans to raise resources to finance capital spending beyond the Rs 3.10 lakh crore budgeted for 2017-18 through higher borrowing or divestment receipts.
Debroy is expected to have a role and responsibility similar to the erstwhile chairman of the Prime Minister's Economic Advisory Council
Petroleum Minister Dharmendra Pradhan's wish to levy indirect tax on petrol unlikely to be taken up
Without Myanmar, India can't engage with any of the Asian nations to its east.
The government has spent a little less than one-third of the Budget estimate of capital expenditure, it can still spend about Rs 20,000 crore this year without disturbing its fiscal deficit target.
Like 2017-18, govt will seek comments from the public at large, including Facebook and Twitter
The chief statistician feels there should be a rebound after companies integrate and adopt the GST system
The income tax department has a steep collection target of Rs 9.8 lakh crore during 2017-18, rising 15.7 per cent from a year ago.
The government would have to assure the Supreme Court that collection of biometric data under Aadhaar does not violate privacy.
Apart from Modi, Jaggi Vasudev to address 2-day tax officers' conference
Data mining with the object of ensuring that resources are properly deployed to legitimate beneficiaries is a valid ground for the state to insist on the collection of authentic data
The mergers will not involve any cash but only share swaps
Of the 11,000 kg imported between July 1 and August 9, around 90 per cent was brought in by two business groups which took advantage of the favourable reduction in tax incidence under GST, routing their imports through Korea.
After initiating stern action against 331 companies, the market regulator seems willing to revoke its stringent restrictions for some entities.
Steps such as safeguard duty in the works to plug the route
Entry of a higher number of technocrats, an appraisal system for civil servants and the benefits of changing the financial year may feature in the PM's fourth speech.
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