The government on Thursday raised the income tax exemption limit to Rs 10,000 while imposing a 2 per cent education cess on taxable income.
What do you think of these proposals? Vote at the end of each proposal!
With a focus on direct, indirect, and corporate tax structures, the Budget 2016-17 offers a balanced taxation structure
Collection will have to rise by 30 per cent in the remaining period of the financial year to achieve the Budget estimate.
'In a serious fiscal situation like this, an ostrich-like focus on annual budgeting, event management and defensive rhetoric will only make matters worse,' warns Rathin Roy.
'Perhaps GST was too complex a system for the Indian economy at its present stage of development,' argues T N Ninan.
Despite a massive decline in crude oil prices since 2012 -- Modi has been prime minister in six of these eight years -- petrol in Delhi has become 10 per cent costlier and diesel 97 per cent, as of July 2.
The sector needs urgent attention as it face threat from China.
Also on the anvil is abolition of distinction between Plan and non-Plan expenditure and replacing it with capital and revenue expenditure
Finance Minister P Chidambaram announced a slew of taxation proposals in the Union Budget on Thursday.
Assets worth only Rs 4,000 cr declared till mid-August; govt expects pick-up in last 2 weeks
Railway Minister Suresh Prabhu faces a stiff dilemma on whether to raise fares and freight rates in his second Rail Budget.
'Modi is still immensely popular and, therefore, he can sustain any number of policy failures.' 'Modi himself has worn multiple faces so it would be naive to think that the Modi of 2021 will be the same Modi that will be campaigning for re-election in 2024.'
The revenue collection in the same month a year ago stood at Rs 94,442 crore.
Yadav said the nationwide strike has affected over 35 lakh (3.5 million) people.
Penning a Facebook post on the second anniversary of GST rollout, Jaitley said as many as 20 states are already showing more than a 14 per cent increase in their revenues and do not require the Centre to compensate them for revenue loss arising out of GST implementation.
Grains, non-mineral water might be on the list; biscuits, butter and cheese might attract GST
Experts believe that states will be in a predicament because of their tight fiscal position and reluctance to replace their own health schemes with this newly announced National Health Protection Scheme.
Economists at the Centre for Economic and Social Studies (CESS) here expect that the share of organised retail in India will not exceed 30 per cent of the total retail trade in the country even after allowing 51 per cent foreign direct investment in (FDI) in multi-brand retail.
As India emerges from the COVID-19 crisis, the ninth budget under the Modi government, including an interim one, is widely expected to focus on boosting spending on job creation and rural development, generous allocations for development schemes, putting more money in the hands of the average taxpayer and easing rules to attract foreign investments.
'I would like to convey the message to your readers that the prime minister himself is directly seized of the situation on the ground. He periodically reviews the situation on the ground and how it is moving forward, taking inputs from economists, business leaders, chambers of commerce.'
A time has thus come when state encouragement for rural students led to empowerment of the socio-economically marginalised sections of the population. It included women. Today, with greater exposure and consequent enlightenment, it has gone beyond 'empowerment' to become 'entitlement', says N Sathiya Moorthy.
It observed that there is no record of the money meant for the welfare of construction workers.
Over the years, NHAI's expenses have spiraled due to sharp increase in land acquisition costs, while budgetary support has shrunk, leading it to fall back on internal resources and market borrowings
Room for rise of up to 2 percentage points, move to help meet higher expenditure need in FY17
The reduced growth is largely because of consumption slowdown and tax rate cuts.
So far, 38.38 lakh taxpayers accounting for 64.42 per cent of the total businesses, who had registered in July, filed returns.
Call for fiscal autonomy to Union Territories with Assemblies may get louder with 'special status' to J&K in the Finance Commission, say experts.
Another bill related to the farm sector, the Essential Commodities (Amendment) Bill, was passed on Tuesday.
The United Nations Security Council on Saturday voted unanimously on a resolution to send an advanced team of "unarmed" observers to Syria to monitor the implementation of cessation of armed violence in the country.
Data released earlier by CAG shows capital expenditure by the Centre had contracted 9.2 per cent in Q2
The Rail Budget to be presented tomorrow may continue with the practice of not raising the fares and freight rates but the possibility of imposition of a safety cess may not be ruled out, at least on the higher class fares.
The Budget has relaxed a few safe harbour rules that aim to make it easier for fund managers overseeing offshore India-focused funds to relocate to the country.
Parliament on Thursday cleared the decks for the rollout of the historic Goods and Services Tax from July 1 as it approved four supporting legislations to usher in the one-nation-one-tax regime.
The central bank is the money manager of the government, and not a guarantor of any debt.
Before participating, consider company's long-term prospects, premium offered and acceptance ratio.
It was better to first build a single-rate GST with a low rate, achieve full mastery of this, and then consider more complex possibilities such as high rates and multiple rates.
A minimum levy of 12 per cent GST on tea will increase the cost, which will ultimately be passed on to consumers.
'In practice, GST will increase the pain of compliance, if not the cost, a lot.' 'It also has clauses that offer scope to create a single market for corruption,' warns Devangshu Datta.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances