There is a link between objectives and commitments.
If other states follow suit, it is going to become difficult for the GST Council to decide on the next stage of reforms.
The government was exploring options to secure higher dividend payment from state-run companies.
Amid rising demand for coal freight and an aggressive push towards diversifying its freight basket, Indian Railways is planning to buy 100,000 more wagons over the next three fiscal years. The procurement plan will majorly comprise BOXN wagons, which are used to transport coal, said a senior Ministry of Railways official. Notably, the railways recently floated a sizeable tender worth Rs 35,000 crore of wagons, which had been in the pipeline since 2018. "Our Budget Estimates for freight increase were conservative.
'Most young taxpayers prefer income tax filing to be flexible yet straightforward.'
The government would fall short of its target for direct tax collections for the second consecutive year, with the revenue department estimating its direct tax receipts at Rs 3,70,000 crore (Rs 3700 billion) for 2009-10.
Because of global economic meltdown and stimulus packages provided to industry.
Govt may tighten presumptive taxation norms and also do away with some deductions.
It is also likely to assume a deflator of around 4 per cent. That could take the nominal GDP outlook for FY21 to around 10 per cent. It is this nominal GDP forecast on the basis of which the finance ministry is calculating key Budget targets like the fiscal deficit as a percentage of GDP and tax revenue growth for the coming year.
Rural budget set to increase; likely to enhance market linkages for agri commodities
The Budget gave a big boost to power reforms programme by increasing allocation to Rs 2,080 crore (Rs 20.80 billion), or a rise of 160 per cent from the previous fiscal.
They may be on the same side of political power, but that did not stop Railway Minister Mamata Banerjee and her predecessor Lalu Prasad from taking pot-shots at each other during the presentation of Railway Budget in the Lok Sabha.
Whether it was the MGNREGS or the NFSA or the Aadhaar-based DBT scheme for cash transfer, the Modi government has built on the basic architecture created by the Singh government. Policy makers in the Modi government, instead of discarding them as products of the previous political regime, worked on them, expanded their scope and reach, and used new tools to improve their performance, explains A K Bhattacharya.
True to word, here's a hotel chain that gives you more than your budget.
Providing comfort to the government on the revenue front amid fiscal stress, direct tax collection is moving closer to the revised Budget target for 2021-21 and may get a further thrust from the last instalment of the advance tax payment, the deadline for which ended on Monday. The contraction in net direct tax collection narrowed to 5 per cent year-on-year as on March 15 compared to a 9 per cent decline seen in January. In absolute terms, net collection stood at Rs 8.2 trillion against Rs 8.67 trillion in the same period last year, according to the provisional numbers shared by a government official.
Though India is one of the fastest growing economies, how big is the country's budget compared to other countries in the world?
Moody's Investors Service on Wednesday raised India's economic growth estimate for 2023 to 5.5 per cent from 4.8 per cent pegged earlier, on the back of a sharp increase in capital expenditure in the Budget and a resilient economic momentum. It however revised downwards India's growth estimate for 2022 to 6.8 per cent from 7 per cent pegged in November last year. In its February update to Global Macro Outlook 2023-24, Moody's raised the baseline 2023 real growth projections "meaningfully" for several G20 economies, including the US, Canada, the Euro area, India, Russia, Mexico, and Turkiye, accounting for a stronger end to 2022.
The capital outlay to cover the modernisation programmes have got a hike of 10.05 per cent.
'We will prioritise our requirements so that the country's maritime interests are not compromised.'
Current account deficit in 2010-11 will be well below 3.0 per cent of GDP.
'The household sector, which is still the largest contributor of financial savings, has been experiencing a decline in the last six years, and it has fallen below 8% of GDP.'
On the basis of Budget projections, the Centre needs Rs 7.3 trillion revenue during December-March and its expenditure must be limited to Rs 6.7 trillion.
The immediate revenue loss could worsen the Centre's fiscal deficit, from the budgeted 3.3 per cent of gross domestic product (GDP) to 3.7 per cent of GDP -- a massive 40-basis-point increase. It was stabilised at 3.4 per cent since 2016-17, report Abhishek Waghmare and Dilasha Seth.
You don't prep for 2028 but for 2040, or even 2044. Sustained sporting excellence is based on mass support, grassroots development, and funding - and it is this trifecta India needs to work on, systematically, asserts Prem Panicker.
Pranab Mukherjee proposed the enhancement of the overall plan budget for higher education by Rs 2,000 crore over the Interim Budget estimates. He further announced the allocation of Rs 2,113 crore for IITs and NITs, which includes a provision of Rs 450 crore for new IITs and NITs. The finance minister also proposed to allocate Rs 827 crore for opening one central university in each uncovered state.
In a Q&A with Doordarshan, Jaitley discusses how he chose the areas on which he would spend more.
The highest collection target has been given to Mumbai at Rs 4.39 trillion, followed by Delhi and Bengaluru.
Foreign Office spokesperson Mumtaz Zahra Baloch during her briefing on Friday was asked to comment on the successful soft-landing of the Chandrayaan-3 mission on the Moon.
With the last quarter of 2023-24 (FY24) expected to have been soft owing to lower discretionary spend and macro uncertainty, many are hoping FY25 will be a year of recovery for the information-technology (IT) industry. The fourth quarter, January-March, is considered soft, and will continue to see the headwinds the sector has been facing. And the sector has entered the new financial year on a weak footing. Analysts are expecting Tier-I firms to report sequential growth of -1 per cent to 1.5 per cent and midcap players' growth may range between 0.7 per cent and 4 per cent.
The railways total earnings recorded an 8.3 per cent growth at Rs 33,900 crore (Rs 339 billion) up to December this year as compared to the corresponding period in the previous year.
Even if the same party returns to power, what is important to debate is that having introduced an entitlement, how challenging it is to reverse such decisions, says Mukesh Butani.
Reeling under a series of derailments, the Budget is likely to announce creation of a separate safety fund of about Rs 1 lakh crore over the next five years.
'If because of El Nino, the monsoon is affected adversely in the current year, naturally it will affect income projections and consequently Budget numbers.'
Sitharaman said the government will bring in a new national education policy to transform India's higher education system into one of the best in the world.
D R Dogra, managing director and CEO, Care Ratings, says that the finance minister should start the process of fiscal consolidation from his Budget 2010-11.
CBDT has been given a collection target of Rs 5.69 trillion in personal income tax in the fiscal year 2019-20 - 19.2 per cent more than the Rs 4.77-crore collection in the previous year.
Australia has said it would not pursue the case of Wikileaks founder Julian Assange with the United States any further as it no longer serves the country's interests.
The finance ministry may succeed in collecting over Rs 2,52,900 crore (Rs 2,529 billion) in taxes to meet the revised estimate for 2003-04 despite hefty refunds.
Spectrum auction and divestment proceeds likely to disappoint, subsidies are likely to overshoot the Budget target and there might also be some shortfall in tax collections.
The five warmest years in Indian weather history have occurred in the past 14 years -- the others being 2009, 2017 and 2010, in order of intensity.
