The ministry of finance has assured the Planning Commission of at least 15 percent increase in gross budgetary support for 2010-11, over the 2009-10 budget estimates.
The fiscal deficit totalled Rs 83,394 crore (Rs 833.94 billion) at the end of November, representing 61.5 per cent of the Budget estimate of Rs 1,35,524 crore (Rs 1.355.24 billion), according to data released on Tuesday.
The government must expedite its plan for asset sale and privatisation, both of which hardly got any mention in the Budget speech, points out A K Bhattacharya.
Government has allocated Rs 988 crore (Rs 9.88 billion) in Budget estimates for 2007-08 for increasing infrastructure of IIT institutions.
The government further said the gross tax revenue as a per cent of GDP is expected to increase to 12.1 per cent of GDP in 2019-20 and stabilise at that level in 2020-21 before climbing up to a level of 12.2 per cent of GDP.
Top gainers in the Sensex pack included Bharti Airtel, Tata Motors, IndusInd Bank, Kotak Bank, Hero MotoCorp, Asian Paints and PowerGrid, which rose up to 2.53 per cent.
Eminent economist Arvind Panagariya has said India is on the cusp of returning to a high growth trajectory and voiced confidence that the country will become the world's third-largest economy by 2027-28. Currently, India is the fifth largest economy "so it's another five years.We are already in (the year) 2023. "So 2027-28, India should be the third-largest economy," Panagariya, Columbia University Professor and former Vice Chairman of NITI Aayog, told PTI in an interview in New York.
Govt could cut the GST rate payable every time someone buys a health insurance product; or it could also provide a larger income tax set off for those who buy a health insurance product
The threshold limit for deduction of tax at source has been raised for unusual income such as winnings from horse race, commission
