Page 2 - Budget Estimates

India can't afford yet more disruptions to supply chains: Ficci President

'What is most unfortunate is that countries are looking to finance their transition to a green economy by taxing others'

CBDT seeks detailed report on the top 15 taxpayers in each region

Directive issued for maximising revenue collection and monitoring advance tax mop up

Centre still hopeful on 6.4% fiscal deficit on back of tax revenue gains

The net tax revenue budget estimate for FY23 was Rs 19.35 trillion; a boost of Rs 4.5 trillion would take the revised estimates to Rs 23.85 trillion

Centre's fiscal deficit touches 45.6% of Budget target till October

With the GDP numbers out, the deficit stood at 4.7 per cent of GDP in the first six months of FY23

Tax collections to cross budget estimates in current fiscal, says govt

Revenue Secretary Tarun Bajaj was quoted as saying that the growth in tax revenues will continue to be higher than the GDP growth, owing to better compliance

Tax collection to exceed Budget estimate by nearly Rs 4 trn: Revenue Secy

India's tax collection will exceed the budget estimate by nearly Rs 4 lakh crore in the current fiscal on the back of buoyant income tax, customs duty and GST mop-up, Revenue Secretary Tarun Bajaj said on Wednesday. In an interview to PTI, he said the growth in tax revenues will continue to be higher than the GDP growth, helped by formalisation of the economy and better compliance. For this financial year ending March 2023, the tax collection target set in the Union Budget is around Rs 27.50 lakh crore. Bajaj said the direct tax collection comprising personal and corporate taxes would be close to Rs 17.50 lakh crore in the current fiscal. Mop up from indirect taxes (customs, excise and GST) would be close to Rs 14 lakh crore. The total tax collection is expected to be about Rs 31.50 lakh crore in 2022-23, he said. The Budget had pegged direct and indirect tax mop up at Rs 14.20 lakh crore and Rs 13.30 lakh crore for current fiscal, taking the total figure to Rs 27.50 lakh crore.

Finance ministry likely to give additional Rs 25,000 crore for MGNREGS

But asks rural development ministry to identify and remove inefficiencies

FM Sitharaman likely to begin pre-Budget talks from third week of November

FM Nirmala Sitharaman and senior officials will hold eight meetings in all with all stakeholders

Fiscal correction: Focus should be on reducing the fiscal deficit

The govt would do well to be cautious and resist the temptation of increasing expenditure in the run-up to the Lok Sabha elections because the economy is likely to slow in the second half of the year

Customs, excise mop-up likely to see Rs 1-trillion shortfall in FY23

Duty cuts on edible oil, petro products to blame; may not hit overall collection

India's April-August fiscal deficit recorded at 32.6% of FY23 target

Sabnavis said the progress till August shows that the government's accounts are on course compared with last year

Fiscal deficit touches 32.6% of annual target till August this fiscal

As per the data released by the Controller General of Accounts (CGA), the government's total receipts, including taxes, stood at Rs 8.48 trn or 37.2 per cent of the Budget Estimates (BE)

Five years of GST: Indirect tax reformed, but there's still some way to go

July 1 will mark five years of goods and services tax (GST) in India. Starting today, we track the journey through a series of reports

Centre's FY22 fiscal deficit at 6.7% vs revised estimates of 6.9%

April saw revenue surplus of Rs 591 crore

What is Demand for Grants?

The Union Budget is finalised with inputs from all ministries and departments about estimates of their spending for the next FY. This estimate tabled as part of the Budget is called Demand for Grants

Gross fixed capital formation: Advance estimates hopeful, say analysts

Most of capex brunt being borne by Centre, say analysts

Fiscal deficit likely to stay at budget estimate of 6.8% of GDP in 2021-22

Tax revenues may not narrow deficit; food, fertiliser subsidies to overshoot BE

Direct tax mop-up crosses half of Budget Estimates at halfway point

Collection 28% higher over the same period in 2019-20, brightening economic recovery prospects

Apr-Jul fiscal deficit narrows to 9-year low, reaches 21.3% of FY22 target

Non-tax revenues such as dividends from RBI and public sector banks yielded Rs 1.39 trillion

Do not politicise GST Council: Finance Minister Nirmala Sitharaman

The government is conscious of the intensity of the second wave of Covid-19 and is assessing its full impact before coming out with further packages and interventions, says FM Sitharaman