In the current fiscal year, tax and non-tax revenue collections could take a hit. The projections will need to be recalibrated in light of the uncertain environment.
Slump in corporate sector, overall slowdown in economy are key reasons, but analysts assure the slowdown is not likely to impact govt's fiscal projection for the year.
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 bill proposes to collect 5 per cent funds from temple with annual income between Rs 10 lakh to 1 crore; and 10 per cent from temples over 1 crore income, to be put into a Common Pool Fund.
Central govt's capital expenditure has seen strong growth. State finances present an encouraging picture with better tax revenue collections & improved capex spending.
Modi govt should have predicted the outrage over the hike in Tax Collected at Source on foreign transactions. But a lack of logic didn't stop it before, so why should it start now?
If tax collections in 2022-23 grow by 9.6 per cent, as projected in the Budget, total tax mop-up will be at least Rs 2.1 lakh crore more than the target.
New strategy would be a departure from earlier years (2017-18 to 2020-21), when govt kept very ambitious tax collection targets, but fell short of them by 7-8% each time.
SEBI probe concluded that purported loans and fund transfers were paid back in full and did not amount to deceptive market practices or unreported related party transactions.
While Pakistani authorities have not clarified what intended target was, the incident adds to a troubling pattern of PAF strikes killing civilians, including women and children.
Many really smart people now share the position that playing cricket with Pakistan is politically, strategically and morally wrong. It is just a poor appreciation of competitive sport.
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