Structural changes needed in every aspect of the economy
India average salary increase is expected to remain on a steady path
Tax administration advances, though continuing improvement remains paramount
Revenue deficit comprises political payouts that are impossible to reduce in any significant measure. Minimising political risk means increasing revenue deficit
Direct tax collection needs to grow by about 27% from here on to meet FY20 Budget target
Increased buoyancy is welcome, though it needs examination of causes
According to the HSBC report, top line growth of the top four US banks fell to around 2 per cent in the second quarter ended June this year, as compared to around 5 per cent in the previous year
In all probability, the end of the year will see the same jugglery with the subsidy payments that we saw this year to keep the deficit figure on target
Sources said the government is struggling to meet the revised fiscal deficit target of 3.4 per cent in view of shortfall in GST collections
Vanaja N Sarna said govt has made it clear that it has no plans to revise the target
Total direct and indirect tax collections at February-end stood at Rs 13.89 lakh crore