FICCI calls for stimulus of around Rs 10 lakh cr to stimulate demand, supply to avert long-term economic slowdown
For getting the industry back on track and moving, there needs to be a robust plan for phased opening up of the economy and re-starting growth, FICCI said
Meeting FY21 fiscal deficit target to be very challenging; RBI yet to make decision on monetisation: Shaktikanta Das
The RBI announced long-term and targeted long-term repo operations (TLTRO) to ensure credit flow from banks to NBFCs but banks used the money to buy government bonds or top-rated corporate debt.
India may face loss of Rs 12.1 lakh cr during lockdown; GDP growth likely to decline to 1.1% this financial year: SBI report
The revised fiscal deficit will be at 5.7 percent of GDP and after taking into account only the current extra-budgetary resources (EBR), the deficit rises to 6.6 percent of GDP.
Coronavirus Outbreak: Govt may slash borrowings from market in April; travel curbs disrupt bond market trading
The government was likely to announce its borrowing plan by Tuesday at the latest, a finance ministry spokesman said.
India may miss tax collection target for 2019-20 by Rs 2.5 lakh cr; it's time to junk DDT, reform personal income tax: SC Garg
The government had budgeted gross tax revenues of Rs 24.59 lakh crore.
Govt to cut spending by Rs 2 tn this fiscal amid biggest tax shortfall in recent years; likely to hit growth: Report
Lack of demand and weak corporate earnings growth in the economy led to lagging tax collections this year
India's economic growth likely to slow further in second half of 2019 on weakness in consumption sector: DBS
Weakness in the crucial consumption sector is likely to be extended into the quarter along with tepid private sector activity.
Govt unlikely to go for personal income tax cut amid fiscal stress, lower tax realisation
The government is unlikely to moderate personal income tax rates for the rich due to fiscal stress on account of lower tax realisation amid a slowdown in the economy, sources said
Govt unlikely to reduce GST rates for auto, biscuit manufacturers amid fall in revenue collection; fitment panel rejects tax cuts
Another concern of the government is that if it succumbs to the pressure of biscuit manufacturers, the sectors that face the same tax rate of 18% may also seek a GST cut
India likely to miss fiscal deficit target this year amid pressure for more stimulus; tax collections may fall by Rs 1 lakh cr: Report
Two government advisers said they have also urged the Prime Minister Narendra Modi-led government to defer the fiscal target to tackle the economic slowdown.
Why super-rich sulking over super-hike in tax rates is bunkum; someone ought to foot the bill anyway
The higher tax charges will apply to individuals and domestic investors in the said income brackets as well. There will be repercussion going ahead as well.
EAC-PM member Rathin Roy demands white paper on medium-term fiscal framework
Sounding a note of caution, EAC-PM member Rathin Roy on Monday urged the government to issue a white paper on medium-term fiscal framework, arguing that it would be difficult to meet the Budgetary tax collection target for 2019-20
Finance Minister Nirmala Sitharaman has no leeway to offer any big surprises in Budget 2019, says economists
Investors and the market should not expect any big surprises from the first Budget by the first woman finance minister today
RBI Financial Stability Report: There is good news and bad news, but where is the plan of action?
The Financial Stability Report analyses threadbare the overall state of the various segments as well as highlights the risk-related issues
Union Budget 2019-20: Revision in tax revenue estimates to influence level of fiscal deficit
GST inflows continue to trail the monthly average required to meet the FY2020 Interim Budget Estimates (IBE)
Government likely to overshoot budget deficit target as tax collections fall short
India’s government is likely to overshoot the budget deficit target previously set for the current fiscal year, three officials have warned, as a slowing economy creates a big shortfall in tax collections and prompts new stimulus plans
Union Budget 2019: Will Nirmala Sitharaman be able to stick to fiscal deficit target in her new role as finance minister
The interim Budget presented in February this year had revised upward the fiscal deficit target to 3.4 percent from 3.3 percent of the GDP estimated earlier for 2018-19.
Income tax e-filers decline by over 6.6 lakh in FY19, number of registered filers increases 15% to 8.45 cr: Report
According to statistics put out on Income Tax Department's e-filing website, income tax e-filings in FY 2018-19 was 6.68 crore, down from 6.74 crore in the previous fiscal.
Tax filing falls 1% in FY19 despite govt focus to broaden base; indicates overall slowdown: Report
The report said tax collections are not giving 'much comfort', and just corroborate the fact that a number of activity indicators have been signaling a slowdown in parts of the economy.
Govt meets fiscal deficit target of 3.4% for FY19 by cutting expenditure, rolled over fuel subsidies
The government has managed to meet the revised fiscal deficit target of 3.4 percent of the GDP after it cut last minute expenditure and rolled over fuel subsidies to make up for the shortfall in tax collection