States like Punjab, Delhi, Rajasthan, Uttar Pradesh, Gujarat and Maharashtra reported 7.08 per cent, 3.95 per cent, 3.91 per cent, 3.78 and 3.63 per cent and 3.59 per cent respectively.
India's gross tax collections soared to a record high of Rs 27.07 lakh crore in the fiscal year ended March 31, led by impressive growth in corporate tax and customs, taking the tax-to-GDP ratio to an over two-decade high of 11.7 per cent, Revenue Secretary Tarun Bajaj said on Friday.
A clinical India outplayed South Africa with both bat and ball to register a comprehensive 48-run victory in the third T20I in Visakhapatnam on Tuesday and keep themselves alive in the five-match series.
Comeback man Heinrich Klaasen followed Rassie Van der Dussen's suit in turning out to be an unlikely hero with a career-best 81 as South Africa once again outwitted India by four wickets on a tricky pitch to take a 2-0 lead in the five-match T20I series.
Weak demand from the poultry sector has resulted in a sharp decline in feed prices too, with both soybean and maize prices falling by nearly 25 per cent in the past two months. The poultry market consumes around half of soybean and maize production in India.
Economic think tank NCAER fears that the Planning Commission's ambitious nine per cent growth target for the 11th plan may not be achievable.
RBI expected wholesale prices-based inflation, which is near the double-digit region now, to moderate over the next few months but warned of upside risks owing to firming global commodity prices, particularly oil.
Driven by an estimated 8.4 per cent growth in the fourth quarter, the economy is expected to grow by 7.1 per cent in the just-concluded fiscal and by a robust 9.2 per cent in the current financial year, the leading economic think-tank CMIE has said.
Kylie Jenner rocks a maroon gown with a thigh slit on the Vogue Hong Kong cover.
After the Ukraine war, coke prices just soared and most units don't have money left to buy raw material. Customers are not absorbing the price escalation'
Prime Minister Manmohan Singh on Thursday expressed confidence that the Indian economy, currently growing at an unprecedented 8 per cent for the third straight year, would expand by 9-10 per cent annually over the next five years.
Finance Minister Nirmala Sitharaman on Tuesday said the upcoming Budget for 2021-22 will sustain the momentum of public spending on infrastructure and have a "vibrancy" to ensure the economic revival continues. She also said the pace of divestment, which has been hit by the COVID-19 pandemic, will pick up in the coming months. "We shall definitely sustain the momentum of public spending in infrastructure. Because that is the one way we assure that the multipliers will work and the economy's revival will be sustainable.... "I am conscious that the forthcoming Budget will have a vibrancy that is so required for the economy's revival, sustainable revival," she said at the Assocham Foundation Week. The Budget for the 2021-22 fiscal is expected to be tabled in Parliament on February 1.
A round-up of Saturday's action in the Premier League.
For every rupee in the government coffer, 70 paise will come from direct and indirect taxes, while the government will spend 23 paise towards the states' share of taxes and duties.
Images from the second One-Day International between India and the West Indies, at Port of Spain, on Sunday
Economic think-tank NCAER has revised its projections for economic growth to 7.9 per cent for 2006-07, compared to 7.7 per cent made in April due to likely higher growth in industry and services sectors.
Bengaluru FC snapped a seven-game winless run to record a 4-2 victory against Chennaiyin FC
Members of the Monetary Policy Committee (MPC) felt that though the Indian economy was resilient in the third wave, it, however, lost some momentum and with inflation likely to soften, there is room to continue with the accommodative stance and support revival, the minutes of the MPC meeting released on Thursday revealed. The six-member MPC voted to keep the policy rate unchanged and continued with the accommodative stance at its meeting on February 10. However, external member Jayanth Verma voted against the stance because he felt a switch to neutral was long overdue and the current stance has become counterproductive and deflects focus away from addressing recessionary trends that date back to at least 2019.
This comes at a time when the global recovery remains fragile and is expected to slow later this year as the impact of the fiscal stimulus measures wanes.
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.
The government is also looking to earn 8 paise for every rupee from Union excise duty and 3 paise from customs duty. While, income tax will yield 14 paise to every rupee collection.
Tamil Nadu's voters wanted tough leaders at the helm, to the point of being autocratic. It was what Karunanidhi, MGR and Jayalalithaa ended up becoming, observes N Sathiya Moorthy.
Despite the possibility of the economy bottoming out, the investment cycle could remain weak for another couple of years and earnings downgrades should continue.
'Rather than experimenting with CBDCs, we must come up with a very simple and straight design.' 'Dematerialise your currency/cash and with that dematerialised rupee allow all the transactions digitally.'
'Pump prices of petrol and diesel have reached historical highs. An unwinding of taxes on petroleum products by both the Centre and the states could ease the cost-push pressures,' the Monetary Policy Committee (MPC) has said.
A roundup of the Vijay Hazare Trophy one-day matches played on Tuesday.
China's GDP growth this year is expected to be around 8.5 per cent, down from 9.2 per cent in 2011, as the economy slowed down due to declining exports and global downturn, the Asian Development Bank (ADB) said in its annual report.
Navjot Sidhu's life inside jail wouldn't be ten percent as hard as that of an ordinary convict who is in jail for assault leading to unintentional death, argues Sudhir Bisht.
The continuing fiscal stimulus is heavily tilted towards capex, to the extent that it chips away a part of revenue spending. Accounting for other areas of revenue expenditure, such as salaries, pensions, subsidies and defence (committed spend), the room to spend on welfare schemes, health and education will narrow in FY22.
The Indian economy is likely to slow down a little to 7.6 per cent in the fiscal year 2006 and 7.8 per cent in 2007 as consumption and investment may get affected due to higher inflation, Asian Development Bank said on Thursday.
Excluding the pension outgo, the allocation in the Union Budget for the armed forces stands at Rs 3.62 lakh crore.
Chairman A M Naik said H2 of 2020-21 will herald better economic and business activity in terms of tendering, good liquidity, as well as revival of labour and supply chains.
Equity benchmark Sensex rebounded 454 points on Thursday, boosted by gains in index heavyweight Reliance Industries amid a positive trend in global markets.
Reserve Bank-sponsored professional forecasters on Monday scaled down India's growth projection to 4.8 per cent for the current fiscal from 5.7 per cent estimated earlier.
The government has limited room to reduce expenditure without further weakening growth, it noted.
Australia declared their first innings on 473/9 and then reduced England to 17/2 after a near-flawless evening session to take charge of the day-night second Ashes Test on Friday.
The government had pegged the fiscal deficit for 2020-21 at Rs 7.96 lakh crore or 3.5 per cent of the GDP in the budget presented by Finance Minister Nirmala Sitharaman in February.
Apex telecom industry body COAI has asserted that spectrum pricing should be kept conducive to market conditions as 5G entails upfront capital investments with monetisation spread over a long-haul, and pricing radiowaves high will only push the players up against the wall. The stage is set for Telecom Regulatory Authority of India (TRAI) to come out with its recommendations on 5G spectrum pricing and other modalities for upcoming auctions, and the announcement from the sector watchdog is expected anytime now. Norms will also be worked out for new frequencies such as 526-698 MHz and millimetre band, that is 24.25 - 28.5 GHz, in addition to bands such as 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz, 2500 MHz, 3300-3670 MHz.
Pakistan produced a fine bowling performance to restrict England to 248 for six despite a battling 71 from Paul Collingwood on the first day of the third Test on Tuesday.
The value of unclaimed securities and other assets was nearly Rs 20,000 crore in March 2020.
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