Saturday, 1 October, 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

Wild elephants monitored under thermal UAVs in Maharashtra | RESQ Charitable Trust

We monitored wild elephants, leopards in villages with thermal drones first time in Maharashtra

Whether it's monitoring wildlife, mitigating conflict, capturing of wildlife on field, UAVs are effective tools to complement existing on-ground efforts.
A man counts Indian currency notes inside a shop in Mumbai, India | Reuters/Francis Mascarenhas

RBI tells state refiners to reduce dollar buying in spot market, contain sharp fall in rupee

RBI has ensured that $9 billion has been made available at overseas branches of some Indian banks for the country's three state-run refiners to tap, according to sources.

Defence

File photo of former Air Chief Marshal RKS Bhadauria after flying a MiG-21 of 51 Squadron at the Srinagar airbase | ANI

Famed IAF pilot Abhinandan Varthaman’s MiG-21 Squadron bows out from Srinagar today

Known as the ‘Sword Arms’, number-plating of the squadron was done Friday. It has made way for MiG-29s to be the new 'guardian of the Valley'.

India’s hijab supporters will lose even if they win SC battle. Because the real war is political

In a highly polarised time, cornered minorities tend to lean back and protect the roots and fundamentals of what is so dear to them. Politically, it can often be a bad trap.
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