The government has budgeted for total expenditure of Rs 34.83 lakh crore or 6.8 per cent of GDP. While the net tax revenue rose from Rs 5,75,697 crore in October 2020 to Rs 10,53,135 crore till October 2021, a growth of 82.93 per cent annualized, total expenditure rose only by 9.95 per cent, led by infra spending to Rs 18,26,725 crore from Rs 16,61,454 crore during the same period, the RBI said in the financial stability report.
The expansion was the first by Sarma since he assumed chief ministership of the state about 13 months ago.
The idea is to get the budget passed by Parliament along with Appropriations Bill and the Finance Bill by the end of March as this would ensure implementation of the Budget proposals from April 1.
An announcement has barred the entry of journalists in the finance ministry.
If life has become a little less taxing, thank the reform measures initiated by Finance Minister Jaswant Singh in tax administration.
The issue of his wife appearing as counsel for the revenue department has caused P Chidambaram a lot of embarrassment. Tell us if he should quit.
Minimum taxes on foreign portfolio investors have been removed.
Gross collection of tax on corporate and individual earnings jumped nearly 24 per cent so far in the current fiscal year that started on April 1, the tax department said on Sunday. The gross collection of taxes on corporate earnings rose 16.74 per cent during April 1 to October 8, while personal income tax collection jumped 32.30 per cent, the tax department said in a statement. Direct tax collection came at Rs 8.98 lakh crore between April 1 to October 8, 2022, 23.8 per cent higher than the gross collection in the corresponding period a year ago.
Officials have admitted that the problem of frothing will continue until sewage treatment plants in Delhi are upgraded to meet the new standards.
Gandhi dismissed as an "eyewash" the probe into what she called as Ayodhya land 'scam' in areas around the proposed Ram temple while Mayawati demanded that the state government cancel the land deals if the allegations in a media report on the issue are true.
Success in Karnataka's assembly polls will hinge on two factors: Drop a large number of incumbent MLAs and project Modi and not the state leaders, least of all Bommai.
'It has been an ongoing process, talking to the relevant ministries about eliminating leakages and curbing non-core expenditure in various schemes.'
Tax department feels that the second quarter would be much better than the first quarter of the year as the economy has started improving.
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