Business Standard

State Revenues

Centre may urge states to cut delay in formation of finance commissions

Today's meet may focus on facilitating dialogue to enhance efficiency of SFCs

Centre may urge states to cut delay  in formation of finance commissions
Updated On : 13 Nov 2024 | 11:24 PM IST

Secondary long steel makers likely to see 7% rise in FY25 revenues: CRISIL

Producers of long steel products in the secondary sector are expected to see a 7 per cent growth in their revenues in the ongoing financial year, Crisil Ratings said on Thursday. Secondary steel makers produce recycled products using electric arc furnace (EAF) and induction furnace (IF). Secondary steel players witnessed 4 per cent rise in their revenues in preceding 2023-24 fiscal year, the ratings agency said in its report. "Secondary long steel producers will see revenue grow 7 per cent this fiscal, up from 4 per cent last fiscal, riding on robust domestic demand fuelled by central government spending on housing and infrastructure," it said. This fiscal, the central government's spending on rural and urban housing and infrastructure projects, particularly under Pradhan Mantri Awas Yojana and the National Infrastructure Pipeline, will sustain demand. The uptick seen in the first half of the fiscal will pick up pace in the second half. Rahul Guha, Director, Crisil Ratings, said:

Secondary long steel makers likely to see 7% rise in FY25 revenues: CRISIL
Updated On : 17 Oct 2024 | 4:56 PM IST

Himachal mulls freebies rollback: Why is the state in a financial tangle?

Promises like reviving the Old Pension Scheme (OPS), paying Rs 1,500 to women, and providing free power have contributed to the financial strain, with the state now facing a debt of Rs 86,589 crore

Himachal mulls freebies rollback: Why is the state in a financial tangle?
Updated On : 02 Sep 2024 | 9:46 AM IST

Tata Play Q1: Loss widens to Rs 353.9 cr, revenue dips 4.32% to Rs 4,304 cr

Leading DTH operator Tata Play (erstwhile known as Tata Sky) has reported widening of its consolidated loss to Rs 353.9 crore, as revenue from operations declined 4.32 per cent to Rs 4,304.62 crore in the financial year ended March 31, according to financial data accessed by business intelligence platform Tofler. In FY23, the company had reported a net loss of Rs 105.25 crore and its revenue from operations stood at Rs 4,499.19 crore. Total expenses of Tata Play, in which Tata Sons now owns 50 per cent share, has increased 1.47 per cent to Rs 4,760.55 crore in FY24. Earlier, it stood at Rs 4,691.25 crore for the financial year ended in March, 2023. Tata Play's total revenue in FY24 also declined 4.47 per cent to Rs 4,327.07 crore. Earlier, the total revenue was at Rs 4,529.97 crore a year ago. On a standalone basis, Tata Play's revenue from operations also declined 6.07 per cent to Rs 3,982.57 crore for the financial year ended on March 31, 2024. It was at Rs 4,240.04 crore in ...

Tata Play Q1: Loss widens to Rs 353.9 cr, revenue dips 4.32% to Rs 4,304 cr
Updated On : 19 Jul 2024 | 3:03 PM IST

How successful GST has been after seven years since being implemented?

GST revenue peaked at a record high of Rs 20.2 trillion in 2023-24

How successful GST has been after seven years since being implemented?
Updated On : 30 Jun 2024 | 8:45 PM IST

Politicians dole out sops to woo Andhra voters despite rising debt in state

Ahead of the Assembly polls, the state's economic health is in focus as it has consistently breached the fiscal deficit in eight of the last 10 years since Telangana's formation

Politicians dole out sops to woo Andhra voters despite rising debt in state
Updated On : 28 Apr 2024 | 11:10 PM IST

A trillion dreams: Is this realistic, or are four states chasing a chimera?

The exchange rate will play a crucial role in this calculation and some assumptions must be made on this front

A trillion dreams: Is this realistic, or are four states chasing a chimera?
Updated On : 16 Apr 2024 | 10:50 PM IST

14 states, union territories raise Rs 35,544 crore at weekly bond auction

Amount higher than scheduled figure of Rs 32,532 crore, a first in seven weeks

14 states, union territories raise Rs 35,544 crore at weekly bond auction
Updated On : 12 Mar 2024 | 5:34 PM IST

Avg monthly GST earnings to grow 11% to Rs 1.85 trn in FY25: Revenue secy

The government expects average monthly GST collections to touch about Rs 1.85 lakh crore in the next fiscal, up from about Rs 1.66 lakh crore this year, Revenue Secretary Sanjay Malhotra said on Friday. In a post-Budget interview with PTI, Malhotra also said the incorporation date for startups to avail of tax benefits for three years out of 10 have been extended by a year till March 31, 2025. He also said the customs duty cut in mobile spare parts and components to 10 per cent is intended to simplify tax structure, reduce classification disputes and should further spur investment in mobile manufacturing. Finance Minister Nirmala Sitharaman in her 2024-25 interim Budget speech had said the GST taxpayer base as well as monthly revenues have doubled since its launch. The monthly Goods and Services Tax (GST) collection has crossed Rs 1.70 lakh crore in three months this fiscal, taking the average monthly mop-up to Rs 1.67 lakh crore in current fiscal. "GST collections are expected to g

Avg monthly GST earnings to grow 11% to Rs 1.85 trn in FY25: Revenue secy
Updated On : 02 Feb 2024 | 11:44 PM IST

State revenue grows 5% till Nov against 17.4 budgeted for FY24: Report

The growth rate of the combined revenue receipts of the 16 largest states has fallen by almost 80 per cent to 5 per cent during April-November from the budgeted 17.4 per cent for the current fiscal, according to a report. The states have so far borrowed over 37 per cent more than they did last fiscal and given these poor numbers, they will have to borrow heavily this fiscal to service their debt and pay salaries and pensions. The plunge is due to a contraction in sales tax and lower-than-budgeted growth of state goods and services tax collections (SGST), excise duty and stamps and registrations during the period, restricting the growth of states own tax revenue (SOTR) to 11 per cent. Another reason for the poor numbers is the steep decline in Central grants, Icra Ratings said in a report. The agency, though, expects an upside in tax devolution in the fourth quarter, its quantum may not be adequate to fully offset the shortfall in grants. Moreover, even if a sizeable portion of the

State revenue grows 5% till Nov against 17.4 budgeted for FY24: Report
Updated On : 28 Jan 2024 | 1:36 PM IST

Record 81.8 mn ITRs filed till Dec 31, rises 9% in current assessment year

To encourage taxpayers to file their ITRs and forms early, over 1.03 billion outreaches were made through targeted e-mail, SMS and other creative campaigns

Record 81.8 mn ITRs filed till Dec 31, rises 9% in current assessment year
Updated On : 02 Jan 2024 | 12:11 AM IST

States to boost fiscal health in FY24 with high revenue, capex: RBI report

The proportion of states' revenue in gross state domestic prod­uct (GSDP) is projected to reach 8.2 per cent in FY24, the highest sin­ce 2018-19

States to boost fiscal health in FY24 with high revenue, capex: RBI report
Updated On : 18 Dec 2023 | 12:16 AM IST

Twelve of 31 states, UTs project debt more than 35% of GSDP at FY24 end

It is not that only the poor states such as Bihar have high debt in proportion to their GSDP

Twelve of 31 states, UTs project debt more than 35% of GSDP at FY24 end
Updated On : 14 Dec 2023 | 12:03 AM IST

States to miss capex targets this fiscal on fall in revenue, polls : Report

Several states are likely to miss their capital expenditure targets for the ongoing fiscal due to polls and fall in revenue, according to an analysis. A steep fall in revenue receipts will further lead to a major compression in state capex, which during the first half of FY24 rose to a record 35 per cent, Icra Ratings Chief Economist Aditi Nayar said. To maintain their Budget estimates, 21 states -- whose capex and other macro data is available -- will have to ensure that the capex run run rate is maintained at 28 per cent in the second half, which is unlikely, since model code of conduct is likely to take effect in the March quarter before the general elections, Nayar said. The combined revenue and fiscal deficits of these 21 states widened to Rs 70,000 crore and Rs 3.5 lakh crore, respectively, in the April-September period, from Rs 50,000 crore and Rs 2.4 lakh crore, respectively, in the year-ago period. The report excludes Arunachal Pradesh, Assam, Goa, Manipur, Meghalaya, ...

States to miss capex targets this fiscal on fall in revenue, polls : Report
Updated On : 26 Nov 2023 | 12:32 PM IST

Populism: The only game in town

As political parties indulge in competitive populism, why do voters accept it?

Populism: The only game in town
Updated On : 22 Nov 2023 | 8:33 PM IST

Centre proposes amendment to boost state revenue from mining waste

The existing regulation permitted the leaseholder to dispose of these materials without specifying their intended use

Centre proposes amendment to boost state revenue from mining waste
Updated On : 21 Nov 2023 | 8:25 PM IST

Ongoing ethnic violence takes a heavy toll on economy of Manipur

The retail inflation in Manipur remained one of the highest in the country at 9.7 per cent in September

Ongoing ethnic violence takes a heavy toll on economy of Manipur
Updated On : 09 Nov 2023 | 11:46 PM IST
Updated On : 02 Nov 2023 | 10:50 PM IST

UP has immense possibilities, create new sources of revenue, says CM

Theft of revenue is a national loss and there is a need to raise awareness to prevent attempts to evade GST, Uttar Pradesh Chief Minister Yogi Adityanath said on Saturday as he stressed on creating new sources of revenue for the state. "Uttar Pradesh is a land of immense possibilities, we should also create new sources of revenue collection. Concerted efforts should be made in line with the GST and VAT collection target of Rs 1.50 lakh crore for the current financial year," an official release quoted the chief minister saying during a meeting to review the updated status of non-tax revenue receipts in the current fiscal. To increase revenue collection, a clear target should be given to field officers. This should be reviewed weekly or monthly, the chief minister said. "Quarterly review will continue from my end. Departments concerned should make every necessary effort for revenue collection relative to the target," he said. Adityanath said that strict action should be taken against

UP has immense possibilities, create new sources of revenue, says CM
Updated On : 02 Jul 2023 | 7:07 AM IST

Unless Tamil Nadu widens revenue base, it can slip into debt trap: Experts

Tamil Nadu will fall into a debt trap if the govt continues to borrow to pay the old debt without focusing on infrastructure development, said experts

Unless Tamil Nadu widens revenue base, it can slip into debt trap: Experts
Updated On : 11 Jun 2023 | 4:25 PM IST