'Nirmalaji's Budget announcements have long-term implications and are not backed by enough money when the short-term outlook looks bleak,' notes T N C Rajagopalan.
'Inter-ministerial coordination, information on the proposed PSUs, and due diligence are taking longer than expected to conclude the process.'
A ramp-up in COVID-19 vaccination, healthy advance estimates of kharif (summer) crop and faster government spending were the factors which led to the revision, the agency said in a statement. It can be noted that after the 7.3 per cent contraction in 2020-21, there were expectations of a higher growth number in 2021-22.
For example, railways, roads and highways, and shipping could form a section within the Budget as an omnibus transport sector
In this year's budget, Finance Minister Nirmala Sitharaman hiked tax on petrol and diesel, raised import duty on gold, levied additional surcharge on super rich and brought a tax on high value cash withdrawals as she sought to spur growth with reduction in corporate tax and sops to housing sector, startups and electric vehicles.
Finance Minister Arun Jaitley presented the Budget today.
This e-series funding round also makes OYO the most valued hospitality company in the country, ahead of the Tata group's Indian Hotels Company, which owns the Taj brand of hotels, and EIH, which owns the Oberoi brand of hotels.
According to the figures released on October 31, the deficit till September had inched down to 65.6 per cent of the budget estimate for 2012-13, compared with 65.7 per cent till August.
First Rajya Sabha approved the Rs 45 lakh-crore spending proposed in the Budget, followed by the nod to the Finance Bill that contains tax proposals.
Against FY17 target of Rs 56,500 cr, Centre plans to fetch around Rs 6,400 cr in the first half.
Revenue buoyancy of GST will be key to improve the resource position of both central and state governments.
'Most young taxpayers prefer income tax filing to be flexible yet straightforward.'
The government had set the direct tax collection target of Rs 3.70 lakh crore (Rs 3.7 trillion) in the budget for 2009-10, which was later revised upwards to Rs 3.87 lakh crore (Rs 3.87 trillion).
Rural outlay may go up 23% to reduce pains of demonetisation
'The Budget targets are achievable, but they require continued discipline and that the government sticks with the efforts to cut red tape and make business in India more efficient.'
Finance Minister Nirmala Sitharaman will keep on the path of fiscal consolidation and opt for narrowing the FY24 fiscal deficit to as low as 5.8 per cent in the upcoming Budget, analysts said on Tuesday. The government may go for a fiscal deficit number which will be far lower than the 6.4 per cent of GDP budgeted for FY23, they said, pegging the Budget figure for the next fiscal in the range of 5.8 - 6 per cent. Given the fact that this will be the last full Budget of the present government, there may be a temptation to make it into an expansionist one.
Budget-makers in North Block are looking to maintain this fiscal status quo, in spite of tax revenues nowhere close to where the government wants and in spite of possible higher expenditure commitments.
Softening the demonetisation blow, the Budget for 2017-18 on Wednesday halved the tax to 5 per cent on incomes up to Rs 500,000 but proposed a new surcharge of 10 per cent on incomes between Rs 50 lakh and Rs 1 crore and raised duties on cigarettes and pan masala while stepping up allocations for infrastructure, rural, agriculture and social sectors.
Nirmala Sitharaman has designed the revenue mix in such a way that while Centre's share in taxes would grow a massive 25 per cent, states' share would grow a dismal 6 per cent.
Lower revenue collection puts upward pressure on government borrowing, ensuring that it deviates from the glided path of debt reduction
'In equities, it has diversified portfolios.' 'So the short-term movement of individual stocks does not impact them.'
Collection will have to rise by 30 per cent in the remaining period of the financial year to achieve the Budget estimate.
Crosses Budget Estimate by 5.5%, govt expected it to be 4.6% of GDP for current financial year
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.
The tax collections are down by Rs 60,000 crore (Rs 600 billion) over budget estimates for 2008-09, Pranab Mukherjee said.
Pakistan's outgoing government has acknowledged that it provided grants of Rs 687 billion to the powerful military for security-related spending that were in addition to the annual defence budgets.
The capital outlay for the three services, for modernisation, stood at Rs 78,586.68 crore
In fact, no other recent Union Budget has held so much significance for the Indian economy as the one to be presented in about six weeks from now, notes A K Bhattacharya.
It had declined by slightly over 4 per cent in December. The city contributes 37 per cent to the total direct tax revenues. If the trend continues, it could affect the Budget estimates of Rs 13 trillion for the current fiscal year.
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.
A communiqu sent by the department of investment and public asset management (DIPAM) to the heads of all PSUs, said the move would help the government to get predictable and periodic dividends before Budget estimates are firmed up.
The major beneficiaries have been the ministries of roads and highways, railways and power
Experts recommend awaiting the findings of the 2021 Census, which is yet to be conducted, before introducing population control policies.
The states will forego around Rs 44,000 crore of tax revenue after they reduced VAT on petrol and diesel in the reminder of the fiscal but higher central tax devolution of Rs 60,000 crore will offset the losses, according to a report. After months of calls for lowering the taxes on the fuels, the Centre on November 4 cut excise duty on diesel by Rs 10 a litre and by Rs 5 on petrol. Following this, as many as 25 states and Union territories have lowered value-added tax (VAT) on these fuels.
The fiscal deficit touched 61.2 per cent of full year Budget Estimates or over Rs 3.24 lakh crore in end July.
Outlay for infra is also expected to see a significant increase in view of the government's Rs 111-trillion investment plan under the national infrastructure pipeline to develop social and economic infrastructure over five years.
They have also called for giving cash to the poor, so that demand is generated in the economy.
Govt may further hike excise on petrol, diesel before Budget.
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.
Finance Minister Pranab Mukherjee was saddled with a number of handicaps when he presented the Union Budget 2012-13 on Friday morning.
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