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.
The I-T dept Thursday released time-series data on direct tax collections between 2000-01 & 2023-24, showing an increasing reliance on direct taxes versus indirect taxes.
Nirmala Sitharaman's Budget proposals regarding investment in infrastructure, heath and other sectors are capital intensive and will usher significant funds in the Indian economy.
Direct tax collections are growing at around 5% against a budgeted 17% growth and GST revenues have been growing at nearly 12% against a budgeted 15% growth.
Past FTAs failed to yield much benefit because they exposed domestic industries to global competition without strengthening the manufacturing ecosystem.
Mini deal will likely see no cut in 10% baseline tariff on Indian exports announced by Trump on 2 April, it is learnt, but additional 26% tariffs are set to be reduced.
PTC Industries is investing Rs 1,000 cr in 4 manufacturing plants in UP, has already started supplying titanium parts to BAE Systems for its M-777 howitzers that India also uses.
Public, loud, upfront, filled with impropriety and high praise sometimes laced with insults. This is what we call Trumplomacy. But the larger objective is the same: American supremacy.
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