The budgeted indirect tax collection target is Rs 9.26 trillion, and the Centre has collected around Rs 5 trillion in the first 8 months. So it needs another Rs 4.2 trn in the last four months
24% claim exemption from income tax or say they have no income at all, discovers Manoj K.
Moody's said the asset quality of the banks will remain under pressure.
India lost around 38.5 thousand hectares of tropical forest in the last decade. Nearly 14 per cent of the country's tree cover! It is one thing for Modi to announce that India will reach a net-zero level of emissions in 2070. But if it is serious, it needs to start today, points out Ramesh Menon.
India's harsh lockdown has left companies grappling with temporary closure, chaotic supply chains and depressed demand. Consequently, business plans have been modified.
India's rank in the World Bank's ease of doing business index cannot get better unless more attention is paid to bringing about procedural reforms in the way states run their governments and provide various approvals for trade and industry, says A K Bhattacharya.
Prime Minister Modi has entrusted Amit Shah with the task of coordinating all the agencies with their power to monitor movement and phone calls, says R Rajagopalan.
India, Taiwan and countries with large numbers of Tibetans, Uyghurs and overseas Chinese will be prominent among those that witness elevated United Front activity, notes Jayadeva Ranade, the distinguished China expert and retired RAW officer.
The Budget chose to stick to an ambitious disinvestment programme for 2016-17.
Experts, however, said that it is a very nominal benefit to the salaried class.
Hopefully, the budget will see tax exemption on pension plans go up to Rs 20,000 from the present Rs 10,000, as recommended by the Kelkar committee.
ONGC, Hindustan Petroleum, Bharat Petroleum, Indian Oil and Oil India listed the spending as part of their mandatory CSR commitment, but CAG noted that the Sardar Patel statue did not qualify for CSR funding.
Modi govt faces extra spending burden due to policies like 7th Pay Commission and OROP
'The COVID-19 pandemic must push the military into a long-term reconsideration of its primary challenges.' 'There must be greater emphasis on humanitarian aid and disaster relief including the management of contagious illnesses and impending crises caused by climate change,' notes Ajai Shukla.
While experts pointed out the impact of corporation tax cuts cannot yet figure in collections as most companies are yet to decide on their choice, government officials said a part reason for slow collection is the tax cut.
The Association for Democratic Reforms slams the Budget proposals on political funding, says they lack teeth and show the "lack of political will" in proposing real reforms.
Responding to another question, Choubey said that the phase-I of clinical trials have revealed excellent safety of the two candidate vaccines indigenously developed by Bharat Biotech in collaboration with Indian Council of Medical Research and Cadila Healthcare Ltd, and now their immunogenicity testing is in progress. Their phase II clinical trials are ongoing.
'Not one single, but multiple trials are there to quote. However, these will be published as scientific manuscripts.' 'This includes integrative as well as standalone approaches in Covid mitigation.'
Tamal Bandyopadhyay offers some unsolicited advice for a government wh,ich came to power, with brute majority and the nation's pragmatic chief money man.
The government was exploring options to secure higher dividend payment from state-run companies.
Just 6.4% of branches owned by new private sector banks are in the rural areas
Prime Minister Modi felt there were too many silos with no arrangement to take a comprehensive view on national security. The PM has entrusted NSA Ajit Doval to evolve a comprehensive roadmap and get it implemented, reveals Nitin Gokhale, Editor-in-Chief, Strategic News International.
Given India's reliance on coal, electric vehicles could at best be 10% more efficient than petrol in terms of CO2 savings.
Public investment is very crucial for GDP growth, says finance ministry.
A major reason for the decline in the consumption of kerosene was an increase in the number of LPG consumers in rural India after the government launched the Pradhan Mantri Ujjwala Yojana. in 2016.
For those who think India's democracy is just fine and there has been no change in the last few years, perhaps it would be instructive to see what has happened on a few issues, observes Aakar Patel.
r the people in the Rs 5-8 lakh bracket, it would be advisable to invest in infrastructure bonds if the period of investment is 3 years, but not for five years and for those in the Rs 1.6-5 lakh bracket, it would be an absolute no-no to invest in Infrastructure Bonds for tax-saving purpose.
India's tax pie seems to have undergone a subtle change with a sharp drop in direct tax collections resulting from a disproportionate impact of the COVID-19 carnage on incomes. The share of indirect taxes, which mainly comprise of levy on goods and services as well as import duty, has risen while that of direct taxes - made up of corporate and personal income tax - has gone down in 2020. In an interview with PTI, finance secretary Ajay Bhushan Pandey said in a pandemic like this where the economy has been impacted, any large scale changes impact direct taxes more severely, whereas indirect tax collection is mostly proportional to business turnover and compliance.
Overall, small savings have amassed Rs 1.17 trillion from April-September - 26 per cent more than the previous year. But in those six months, the economy lost 24 per cent in the first three months, and is slated to lose 10 per cent in the second quarter.
Lower interest rates needed to boost manufacturing, officials say.
Go make a beautiful home but spend smartly and wisely!
'Surely, Syrian President Bashar al-Assad will not be able to pay or compensate the Russians for deployment and use of Russian men and equipment,' says Brigadier S K Chatterji (retd).
Finance Minister Arun Jaitley, in the Budget for 2015-16, is likely to target around Rs 43,000 crore (Rs 430 billion) from divestment proceeds, almost the same level that the government expects to realise from stake sale in PSUs this fiscal.
The ongoing downturn has forced firms to cut back on advertising expenses. The banking, financial services and insurance segment (BFSI) has cut advertising budgets by nearly 40 per cent.
Data released earlier by CAG shows capital expenditure by the Centre had contracted 9.2 per cent in Q2
India's cash-rich promoters are not the same as the wealthiest. For example, Mukesh Ambani is the richest Indian based on his stake in Reliance Industries, followed by Premji, the Adani family of the Adani group, and Radhakishan Damani of Avenue Supermarts.
An analysis of the frequency of various watchwords in the finance minister's Budget speech shows that he was perhaps trying to hold on to his ideas without treading on anybody else's toes, says A K Bhattacharya.
India must break out of this strategic triangulation between China and Pakistan. We need to settle our issues with one of the two, notes Shekhar Gupta.
Reserves provide a cushion against shocks.
Although collection of education Cess is to literate Indians, the practice of levying a particular percentage of Cess for a particular category of education, leaves the public with a serious doubt
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