Factbox: India's tax giveaways to business | Reuters - Firstpost
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Factbox: India's tax giveaways to business | Reuters

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NEW DELHI Indian Finance Minister Arun Jaitley wants to hit his fiscal deficit targets in this month's budget and may scale back some corporate tax breaks to do so, according to people directly involved in the process.

Here's a look at India's fiscal deficit targets and major corporate giveaways:

FEDERAL BUDGET DEFICIT (percent/GDP):

Deficit Reuters Poll

2014/15 4.0

2015/16* 3.9

2016/17* 3.5 3.7

2017/18* 3.0 3.5

NOTES: * Budget estimates. Sources: Finance Ministry, Reuters poll CORPORATE TAX BREAKS (figures in bln rupees unless stated):

Corporate income tax incentives 624

Of which:

- Accelerated depreciation 370

- Exports from special economic zones 184

- Power sector 106

- Scientific research 81

- Others 243

Clawed back under Minimum Alternate Tax (360)

Excise duty incentives 1,847

Customs duty incentives 3,017

Total net corporate incentives 5,488

In billion U.S. dollars 81

Source: Finance Ministry

(Compiled by Douglas Busvine; Editing by Ian Geoghegan)

This story has not been edited by Firstpost staff and is generated by auto-feed.

First Published On : Feb 1, 2016 20:46 IST

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