The central government is likely to exceed the budgeted tax collection target of Rs 22.2 trillion for the current fiscal year, led by better indirect tax mop-up, compliance measures, and recovery in most sectors following the second wave of the Covid pandemic. Personal income and corporate tax collections (net of refunds) grew 74 per cent to Rs 5.70 trillion in the first half of the current financial year, driven mainly by advance tax and TDS payments. The target for the current fiscal year is Rs 11.08 trillion; higher taxes are paid usually towards the end of a fiscal year.
As against an annual average growth of 10-11 per cent envisaged for the industry during the period, the actual annual average growth stood at 7.2 per cent during the plan period.
On one hand, Operation Greens should help to smoothen volatility in the prices of vegetables, whereas the proposal to enhance and extend minimum support prices to augment farmer incomes, may emerge as an inflation risk.
Economic Survey says Services Sector Negotiations at WTO Crucial.
Notwithstanding how the current impasse is solved, at some point in the future, Russia will realise that just as centuries ago it developed the paradigm of securing its heartland's safety through annexing vast buffer zones between itself and the enemy, a more modern security is possible only through friendly relations and sustainable peace, observes Shyam G Menon.
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.
Kotak Bank was the top loser in the Sensex pack, shedding over 2 per cent, followed by ICICI Bank, PowerGrid, HDFC, IndusInd Bank and Axis Bank. NSE Nifty declined 45.75 points to 16,568.85.
Like 2017-18, govt will seek comments from the public at large, including Facebook and Twitter
Even as Chinese troops continue squatting on territory that we claim as our own -- this was the lowest allocation for defence in percentage terms since the 1950s, reveals Ajai Shukla.
Asserting that India is on track to vaccinate its entire adult population by December, top officials on Monday said a blueprint is in place to ensure a total supply of 187.2 crore doses by the year-end that would be enough for the country's 94 crore 18-plus population.
The combined fertiliser, food and petroleum subsidy budgeted estimate for FY19 is Rs 2.64 trillion, while the revised estimate is Rs 2.66 trillion. If the carrying forward to FY20 does not happen, the revised estimates for the major subsidies could actually cross Rs 3 trillion for the first time ever.
It's raining IPOs, with eight issues hitting the market in a span of six days. However, the pace of new filings points to a deluge during the latter part of the year. So far this year, 58 companies have filed their draft red herring prospectus (DRHP) with the market regulator for initial public offerings (IPOs), exceeding the combined tally of 50 in the last two years. Industry participants said the filing count could cross 100 this year, setting a new benchmark in terms of amount mobilised in a calendar year.
India has purchased 500 million doses of the Oxford University-AstraZeneca vaccine candidate, one billion from the United States company Novavax and 100 million doses of the Sputnik V candidate from Russia's Gamaleya Research Institute, according to the US-based Duke University Global Health Innovation Center.
'In 2016, we had De-Mon and in 2017, we had GST.' 'The combined impact of these two started showing up in 2019 and 2020.' 'COVID-19 only added insult to injury.'
Clearly, the extra borrowing of Rs 4.2 trillion the government has planned so far will not be enough to meet the shortfall in revenues which could be between Rs 8 trillion and Rs 10 trillion, points out A K Bhattacharya.
The airliners will be withdrawn from Air India, sent to France to fit airborne radars, then handed over to DRDO to be integrated with the complex software that will allow these aircraft to function as 'eye-in-the-sky' controllers of air force battles.
'Did the Moneyball philosophy get redefined in the domain of the cash-rich IPL, which has become an integral part of the cricketing ecosystem?' asks Atanu Biswas.
The technical report of the NSSO has generated controversy following its observation that as much as 36 per cent units forming part of MCA-21 database, used in computing GDP, could not be either identifiable or traceable in the field.
'Onion supply to mandis has declined due to its lower availability.'
Now that almost 10 infrastructure ministries have submitted a fresh list of their core infrastructure assets, the government has realised it stands to make much more money from asset monetisation than previously thought. Two persons in the government said it stood to garner over 30 per cent more than the earlier estimates of Rs 2.5 trillion over the next four years under the National Monetisation Pipeline (NMP). The NMP, which is being prepared by Niti Aayog, is in the advanced stages of finalisation and is expected to be unveiled in August.
While presenting her 2021-22 Union Budget, Finance Minister Nirmala Sitharaman had set a fiscal deficit target of 6.8 per cent of nominal gross domestic product (GDP) against the 2020-21 Revised Estimate of 9.5 per cent. The fiscal correction in the upcoming 2022-23 Union Budget is unlikely to be that steep. Even as discussions among top Budget-makers are ongoing, the fiscal deficit target for 2022-23 may likely be in the range of 6.5-6.8 per cent.
For years it has been evident that fibre and DTH would give tough competition to cable in India where regulatory overload has mutilated an already warped industry structure. OTT added fuel to the fire. From Rs 27,000 crore in 2010, cable's share of subscription revenues is now estimated at Rs 13,000 crore.
Boeing's confirmation that the Super Hornet has flown off a ski-jump is a statement that it is ready to operate off existing Indian aircraft carriers.
71 districts reported Covid case positivity rate of more than 10 per cent in the week from June 23 to 29, the government said, adding that the second wave of COVID-19 is not over.
The net direct tax collections jumped by 18 per cent to Rs 43,391 crore during the first two months of the current fiscal.
The repo rate has been left unchanged at 4 per cent, Governor Shaktikanta Das said while announcing the decisions taken by the central bank's MPC.
The reduced growth is largely because of consumption slowdown and tax rate cuts.
The Centre said the upsurge of COVID-19 cases is happening in cities and the Omicron variant is the predominant circulating strain.
Five vaccine candidates are in advanced stages of development in India, out of which four are in Phase II/III and one is in Phase-I/II trials.
Vaccine major Bharat Biotech on Wednesday said its COVID-19 vaccine, Covaxin, has demonstrated an interim vaccine efficacy of 81 per cent in the Phase 3 clinical trials.
There's a need to train 40,000 pilots over the next year-and-a-half.
Make in India has few advantages and some disadvatnages too.
While a DFI will help banks derisk their loan portfolios, creation of a bad bank will clean up their balance sheets.
Will the low cost Israeli Athos gun scuttle India's ATAGS gun?
IOC and other oil firms have been paying LPG consumers in 54 districts up to Rs 500 to help them buy a 14.2-kg cooking gas refill at market price, which is more than double of Rs 410 per bottle rate in Delhi.
Not only primary vegetables, but also additives like garlic, ginger and chilly have recorded a sharp increase in prices
Poor rainfall has also depleted water reservoirs levels, which is likely to impact the winter crops.
Asked when the economy will revive, Das said it is difficult to make an estimate as there are many things which are still playing out.
MPs will first attend a 'Farm Progress Show' in Iowa, then visit the Monsanto headquarters in St Louis, Missouri.
RInstead of disengagement, the Indian and Chinese armies have deployed an estimated 35,000 to 40,000 soldiers each along the LAC. The PLA has deployed S-400 air defence missiles to neutralise the IAF's advantage in air power
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