In the first eight months of the current fiscal year, New Delhi’s net tax intake didn’t even hit the halfway mark of what it expects to collect by March 31.
Report by Delhi-based think tank Esya Centre says in next 5 years, govt could lose additional Rs 17,700 cr in tax revenue. It stresses on urgent need to revise VDA tax policy.
Income tax is such a steady and reliable revenue stream, and an increasingly vital one, that the government simply cannot afford to do anything that would curtail it.
US Treasury Secretary said she also urged Israeli PM Benjamin Netanyahu in recent letter to reinstate work permits for Palestinians & reduce barriers to commerce within West Bank.
Budget deficit target is doable, increased capex is a positive & it takes a realistic, if political, view of disinvestment. But protectionism, rising debts, slashed subsidies are problems.
Changes to corporation tax rates by Modi govt were to be revenue-neutral. But are they really? If not, finance minister should take a good look at which tax exemptions to target.
Govt debt is nearing 90% of GDP while its share of economic pie hasn’t grown in past 10 years, so big outlays for programmes in Budget will only mean something else has to be cut.
Finance ministry is yet to finalise modalities to seek approval in Parliament for the sale, which leaves little time for the process to be completed this year.
Tax revenues declined 22 per cent from the year-ago period to Rs 4.58 lakh crore and were at 28 per cent of the full year target of Rs 16.36 lakh crore in the April-September period.
While export values have increased, India’s share in the global dairy trade has remained largely stagnant, despite being the world’s largest milk producer.
Initial talks held on the possibility of India entering the programme that was started in 2017 between France, Germany and Spain to ensure European sovereignty in defence and security.
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