According to Central Board of Direct Taxes, collections stood at Rs 6.44 lakh crore during same period last year, with increase driven by higher corporate and non-corporate revenues.
If the fiscal deficit was brought down to 5.6% in 2023-24, it was more because of a cut in revenue expenditure than because of growth in tax collections.
Central govt's capital expenditure has seen strong growth. State finances present an encouraging picture with better tax revenue collections & improved capex spending.
In FY22, the government had collected Rs 14.12 trillion as net direct tax. Personal income and corporate tax make up most of the country's direct tax mop up.
Central bank communication now holds as much significance as central bank action. A single clause in a press conference can move markets more than a 25-basis-point adjustment.
Order for 87 MALE drones will be split between 2 Indian firms in 64:36 ratio to ensure there are 2 independent manufacturing lines with at least 60% indigenous components.
The India-South Africa series-defining fact is the catastrophic decline of Indian red ball cricket where a visiting team can mock us with the 'grovel' word.
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