Indirect tax collections saw only a meagre 3.5 per cent growth, as mop-up from Customs fell sharply on account of a drop in imports.
Many ministries couldn't use the allocated funds since it came into force, resulting in much-needed savings.
A tax reforms panel, headed by finance minister's advisor Parthasarathi Shome, is considering moving away from setting fixed tax-collection targets and linking these with the changing economic scenario during the year.
Earlier this week, the ministry had come out with a clarification, saying domestic gas producers had to stick to the earlier price of $4.2 a unit until a further notification from the new government.
The US has been widely criticised for using pressure tactics to secure information from other countries, without reciprocity.
Two key depts in ministry cold to rationale for one; postal dept says it's more eligible than IDFC or Bandhan, feels 'strong lobby' scuttling its plans.
Generally,profit of a partnership firm is divided among its partners in sync with their partnership deal.
If the EC decides to put on hold a gas price revision for RIL, it would set a precedent for pricing decisions of the government and policy decisions taken but undergoing procedural delays.
FY14 sees 16% decline in adjustments; department adds only Rs 59,000 crore to the profits attributed by multinationals, against Rs 70,000 crore a year ago
The government appointed panel will look at the difficulties consumers faced in receiving the subsidy after buying gas cylinders at market rates.
Delhi High Court quashes reassessment proceedings by Income Tax department.
Govt notification on $8.4 a unit price likely by month-end
The RBI needs to maintain a healthy contingency reserve so that it can lend its support in case of a bank failure.
Gas price hike seems to be a distant dream for Reliance Industries and its partners--Niko Resources and BP.
The Finance Ministry is of the opinion that Vodafone might drag its tax dispute to court.
The government managed to raise revenues by sending notices to high net individuals to did not file I-T returns last year.
The Finance Ministry has asked top rung exectives of United bank of India to furnish bad loan recovery report on daily basis.
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It would be fair to say that markets are coming to the end of a down-cycle and are at the cusp of the next up-cycle.
To help compare numbers better, FinMin might retain the interim Budget Estimates with the new ones.
The finance ministry is working on a Cabinet note for establishing a full-fledged Public Debt Management Office, officials told Business Standard.
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