A well-established tax system would have a predictable buoyancy - how fast the collections grow as a proportion to the growth of the economy. But that is not the case with GST. It is still undergoing substantial changes as the government responds to structural as well as administrative glitches.
The Union Budget for 2009-10 presented by the finance minister is on predictable lines. Surely, the finance minister has done a fine balancing act of giving a thrust to growth while trying to contain fiscal imbalance.
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.
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 meetings with various ministries will go on till December 12, according to an office notice
What is required from government is intellectual framework.
Pencilling in a GDP growth in third and fourth quarters, SBI Research on Wednesday revised its contraction forecast for the current fiscal year to 7 per cent. The agency had earlier forecast a 7.4 per cent contraction in 2020-21 GDP numbers. In April-September, the economy contracted 15.7 per cent but the second half may see a surprise 2.8 per cent growth, if the SBI analysis turns out to be correct.
Finance Minister Arun Jaitley presented the Union Budget.
In Budget 2015, the finance minister has opted to take the slow road and has doubled the cess on coal to "balance the need to tax pollution and the price of power" in his words.
'The clubbing of policy announcements in the Budget speech creates policy surprises.' 'Economic actors dislike policy surprises because they throw their plans off track,' points out Alok Tiwari.
'Are all roads in India privatised? Are governments not playing a role in airports or ports? If they (private players) want to set up lines for a specific requirement, I see no reason to object. It will expand the opportunity and passengers will also benefit.'
The Budget 2015-16 will include many of the schemes announced by Prime Minister Narendra Modi such as smart cities and high speed trains, Finance Secretary Arvind Mayaram said.
This is the BJP's first full-year Budget.
Finance minister attempts a clean-up job, keeps projected expenditure growth low.
The government had set a budgetary target of over Rs 1.87 lakh crore for collection from customs duty in current fiscal
While the likelihood of these states going the Lanka or Greece way may be an alarming assessment, the financial situation of some states such as Punjab and West Bengal is indeed quite weak.
Planning Commission on Friday said there is no case for providing stimulus to the industry to arrest moderating growth as the fiscal deficit is high and may exceed the Budget estimate of 4.6 per cent by about one percentage point.
Ahead of the new government assuming office later this month, the finance ministry has begun the Budget-making exercise to enable the incoming finance minister to present the full-fledged Budget for 2009-10.
Prime Minister Narendra Modi's announcement of providing free inoculation to all adults will entail total spending of anywhere between Rs 45,000 crore and Rs 50,000 crore. This is higher than Rs 35,000 crore that the government had budgeted.
Presenting the Budget for 2019-20 in the Lok Sabha, Finance Minister Piyush Goyal also said Rs 35,000 crore has been given under the One Rank One Pension scheme in the last three years.
Several critics including some rating agencies have doubted prospects of meeting this ambitious fiscal deficit target.
The interim Budget has attempted to tick all the boxes that could help the Modi government return to power, reports Archis Mohan.
The government has spent a little less than one-third of the Budget estimate of capital expenditure, it can still spend about Rs 20,000 crore this year without disturbing its fiscal deficit target.
Ahead of India's annual budget presentation next week, IMF's chief economist Gita Gopinath has favoured the extension of the pandemic support measures, thrust on investment in infrastructure and expanding health sectors programmes like Ayushman Bharat, and a very credible divestment path for commercially viable companies. The Indian government has provided a lot of schemes for small and medium enterprises, most of which is in the form of liquidity support, Gopinath told PTI on Tuesday. "And you want to revisit it and see how effectively that is working and see whether additional support may need to be provided," she said while responding to a question on her recommendations to Finance Minister Nirmala Sitharaman, ahead of her presentation of the annual Union Budget on February 1. It would be a good time for banks and Non-Banking Financial Companies (NBFCs) to raise capital given the attractiveness of financing conditions at this point, she said.
The decision to cut development expenditure does not bode well for safety and amenities.
Market hopes govt will hike capital expenditure.
Unperturbed by the rise in the fiscal deficit, Finance Minister P Chidambaram on Thursday exuded confidence that it would remain within the target of 4.8 per cent of GDP in the current financial year.
With Mamata Banerjee leaving passenger fares untouched and announcing a slew of concessions for technicians of regional film industry, cancer patients and press correspondents, railways' earnings from passenger operations may be strained further.
'It is entering growth territory on a month-on-month basis.'
Experts recommend awaiting the findings of the 2021 Census, which is yet to be conducted, before introducing population control policies.
The railways have been able to project improvement in finances.
The Centre's capital expenditure (capex) outlay for the April-June quarter (first quarter, or Q1) of 2022-23 (FY23) could be close to Rs 1.5 trillion, Business Standard has learnt. As a percentage of full-year capex Budget Estimates (BE) of Rs 7.5 trillion, this could be at similar levels to the trends in the past few fiscal years. It is in the July-September quarter (Q2) of FY23 that capex is expected to pick up, when a bulk of the long-term capex loans to states are expected to be expended.
The economic growth slowed to 6.9 per cent in the second quarter against 8.4 per cent in the same period last year.
Over 60 per cent of these borrowings are slated to be mopped up in the festival season.
More services such as ATM operations are proposed to be brought within the service tax net.
The July-September quarter results of software companies in the engineering research and development (ER&D) segment were broadly in line with expectations, though there have been cuts in revenue growth guidance. While results were a mixed bag, and there are cautionary views on the near-term outlook, brokerages and global consulting firms highlight the strong growth trajectory for the sector. They expect this segment of the software sector to grow by 8-12 per cent going forward.
The additional outgo to combat the impact of COVID-19 will significantly erode the fiscal consolidation achieved by the state governments in the past three years, an RBI report said on Tuesday. In its study of the state budgets of 2020-21, the RBI report which has dwelled on the theme 'COVID-19 and its Spatial Dimensions in India', said that Gross Fiscal Deficit (GFD) of the states would spiral during the current fiscal.
