Saturday, 21 May, 2022
TopicTax revenues

Topic: Tax revenues

How Budget 2022 is largely transparent, but political

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.

Corporates are raking it in. If govt isn’t getting more in tax, time to look at exemptions

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.

How can Modi govt shed its straitjacket & raise revenue? Start with these 2 ways in this Budget

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.

OECD’s global tax framework is a win-win for India. Just focus on our long-term gains

The multilateral agreement has come against the backdrop of visible populist angst against large transnational companies across the world.

Modi govt defers sale of 2 public sector banks to next financial year due to delays

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 decline 22% in April-September, at one-fourth of full year target

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.

RBI’s truce with bond market at risk as Modi govt ramps up borrowing

Govt will raise an extra Rs 1.1 trillion via sales of three- and five-year bonds. The announcement comes just a week after RBI managed to damp tension with bond traders.

India’s fiscal crisis can only get worse as tax revenue is seen dropping 12.5% in 2020-21

GST revenue collected this August was 12% lower than the amount last August, and the economy is only crawling back to life post the Covid-19 lockdown.

Budget 2020 is now useless. Modi govt must present a new one

Covid has ensured Modi govt won’t meet 20% growth in tax collection target. That would be a terrible assumption to make in a pandemic-hit economy.

India’s oil revenue loss in lockdown seen exceeding Rs 40,000 crore

Fuel consumption probably declined at least 80% in April, which would lead to a revenue loss of as much as Rs 400 billion, said economist Madan Sabnavis.

On Camera

YourTurn

Representative image of an ethanol-blended fuel station plug | Wikimedia Commons

Ethanol blended fuel to power vehicles. Will it hurt your car’s engine?

India’s reliance on ethanol blended fuel is only set to increase in the wake of rising crude oil prices. But are we going to adapt in time?
A shopkeeper arranges stock at a grocery store in Bengaluru | Representational image | Bloomberg Photo

Inflation raised monthly expenses of 92% Indian families in last 3 months, finds online survey

A LocalCircles poll found that 70% of respondents felt their monthly household budget increased by 10% while 55% expected expenses to go up by another 10% in the next 3 months.

Defence

File photo of a defence personnel armed with a SiG 716 rifle near the Line of Control | Photo: Snehesh Alex Philip | ThePrint

India to ink ‘repeat order’ deal for 73,000 SiG 716 rifles from the US

In February 2019, 72,400 SiG 716 rifles of 7.62 x 51mm calibre were contracted from SIG Sauer Inc, USA, under government's 'Buy (Global) category', through fast track procedure.

How Congress is like the Ambassador & why Indian politics needs a brand new set of wheels

Like the car, nothing the party has done to reinvent itself has worked. Only way forward is to offer something looking towards the future, not in image of glorious past.
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