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Chennai: With the West Asia crisis impacting the fuel prices and availability, CPI inflation is expected to move up to 4.1 - 4.3 per cent in FY27, find rating agencies. The GDP growth could also ease to 6.5 per cent in FY27 from 7.5 per cent estimated for FY26. The ongoing conflict in West Asia has led to a surge in energy prices and impacted availability, which could lead to higher inflation, impacting consumer demand. The average CPI inflation is anticipated to more than double to 4.3% in FY ...Read More >
VMPL New Delhi [India], February 17: With Dubai actively building its strengths in the global context of its designation as one of the most dynamic business and investment destinations in the world, 2026 appears to be a pivotal year for entrepreneurs, corporate investors, and property purchasers. As government services are digitised through progressive regulatory changes, corporate tax systems are implemented, and the property business continues to grow, strategic planning is essential in recen ...Read More >
New Delhi, Dec 17 (SocialNews.XYZ) Finance Minister Nirmala Sitharaman on Wednesday said that reducing the country's debt-to-GDP ratio will be the "core focus" for the government in the next financial year (2026-27). Speaking at a media event here, Sitharaman stressed that it is crucial to bring down the debt-to-GDP ratio, which crossed 60 per cent during the Covid period. "It is already coming down, but we need to reduce it further, and this will be a core focus in the next financial year," t ...Read More >
New Delhi, Nov 17: Central Board of Direct Taxes (CBDT) Chairman Ravi Agrawal on Monday expressed hope to meet the income tax collection target of Rs 25.20 lakh crore by the end of the current financial year (FY26). Speaking on the sidelines of the India International Trade Fair (IITF) here, Agarwal stated direct tax mop-up is growing at 6.99 per cent as compared to last year, which is an encouraging trend. "And we're hoping that we can reach the goals by the end of the year. The response from ...Read More >
Dehradun (Uttarakhand) [India], September 28 (ANI): Uttarakhand Chief Minister Pushkar Singh Dhami interacted with shopkeepers and the traders in Garhi Cantt Market, Dehradun, on Sunday, as part of a public awareness campaign to promote the adoption of indigenous products and spread information about the new GST rates. During the visit, the Chief Minister sought suggestions and feedback from the public regarding the new GST slabs and encouraged them to inform others about the reduced GST rates. ...Read More >
Jaipur (Rajasthan) [India], September 27 (ANI): Union Law and Justice Minister Arjun Ram Meghwal on Saturday lauded Prime Minister Narendra Modi for the swift implementation of the Goods and Services Tax (GST) reforms that have lowered the slab to five per cent on several goods. "The effect of GST 2.0, the next-gen GST reforms, can be seen in the markets. The customers are curious and asking questions while the shopkeepers are explaining it (GST rates) to them. This has become a reality, and we ...Read More >
New Delhi: The country's largest carmaker Maruti Suzuki has announced the rollout of its first made-in-India electric vehicle - the e-Vitara SUV - in a major boost to the green segment from its upgraded Gujarat plant, which is now set to become one of the world's largest automotive manufacturing hubs with a projected annual capacity of one million units. Crucially, this facility will serve as Suzuki's global production base for electric vehicles (EVs), exporting to over 100 countries, including ...Read More >
New Delhi [India], August 28 (ANI): A decline in the Goods and Services Tax (GST) rate has a higher multiplier effect of 1.08x compared with direct taxes, according to a report by Ambit Capital. If the benefits of this cut are passed on to consumers, it can boost the country's GDP growth. It stated "A decline in GST rate has a higher multiplier effect (1.08x) than direct taxes. If passed on to consumers, it can add 20-50bps to GDP growth". The report said, a decrease in income tax rate would ...Read More >
New Delhi, Aug 14 (SocialNews.XYZ) India's economic expansion and its GDP growth are clearly on the right path despite geopolitical turbulence and tariff uncertainties, and this is showing in numbers too, economist Akash Jindal said on Thursday. Citing economic resilience and sustained fiscal consolidation, global credit ratings agency S&P Global has upgraded India's long-term unsolicited sovereign credit rating to "BBB" from the earlier "BBB-", ahead of the 79th Independence Day. Reacting to ...Read More >
New Delhi, Jul 11 (PTI) Net direct tax collection fell 1.34 per cent to about Rs 5.63 lakh crore till July 10 of the current financial year, mainly on account on higher refunds, according to government data released on Friday. Net corporate tax collection stood around Rs 2 lakh crore, while non-corporate tax (which includes individuals, HUFs and firms) was at Rs 3.45 lakh crore. Securities transaction tax mop-up was Rs 17,874 crore between April 1 and July 10. Also Read | Congress' Partap Sing ...Read More >
New Delhi, July 8 (SocialNews.XYZ) Finance Minister Nirmala Sitharaman on Tuesday received dividend cheques to the tune of Rs 5,304 crore on behalf of the government from three public sector banks for the financial year ended on March 31, 2025. A dividend cheque of Rs 2,335 crore for FY 2024-25 was presented to the Finance Minister, in her North Block office, by Punjab National Bank MD and CEO Ashok Chandra, while Bank of India MD & CEO Rajneesh Karnatak presented a cheque of Rs 1,353 crore. Th ...Read More >
Lucknow: Sarojini Nagar MLA Rajeshwar Singh on Tuesday highlighted India's unprecedented tax growth over the past decade, crediting it to PM Narendra Modi's bold economic reforms and CM Yogi Adityanath's governance model in UP. "Tax collections don't lie -- they reflect India's real economic momentum," he posted on X. According to Singh, India's total tax revenue surged from Rs 19.75 lakh crore in FY 2016-17 to Rs 48.2 lakh crore in FY 2024-25, marking a 2.4-fold increase.He called this rise a t ...Read More >
New Delhi, Jan 13 (UNI) Net direct tax collections comprising of personal income tax, corporate tax, securities transaction tax (STT) and other taxes rose 15.88% year-on-year to Rs 16,89,928 crore during the current financial year 2024-25 (FY25) till January 12, 2025. The government had collected a total of Rs 14,58,379 crore in direct taxes during the same period of previous financial year 2023-24. As per official data released on Monday, gross direct tax collections (before refunds) during t ...Read More >
New Delhi, Dec 18 (PTI) Net direct tax collection grew 16.45 per cent year-on-year to over Rs 15.82 lakh crore till December 17 this fiscal, buoyed by higher advance tax mop-up, government data showed. Advance tax collection during the period rose 21 per cent to Rs 7.56 lakh crore. Also Read | 'Mukadma, Mulzim, Ilzam, Ittila, Chashmdeed': BJP Government in Rajasthan To Replace Urdu Terms in Policing With Hindi Words. The collection includes corporate tax of over Rs 7.42 lakh crore and non-cor ...Read More >
New Delhi [India], December 18 (ANI): The gross direct tax collections by the government so far in 2024-15 were 20.32 per cent higher on a yearly basis at Rs 19.21 lakh crore, data released by the Central Board of Direct Taxes (CBDT) showed on Wednesday. During the same period last year, the gross tax collections were to the tune of Rs 15.96 lakh crore. Coming to net direct tax collection, it rose 16.45 per cent to Rs 15.82 lakh crore from Rs 13.59 lakh crore mopped up during the year-ago peri ...Read More >
New Delhi, Dec 18 (PTI) Net direct tax collection grew 16.45 per cent year-on-year to over Rs 15.82 lakh crore till December 17 this fiscal, buoyed by higher advance tax mop-up, government data showed. Advance tax collection during the period rose 21 per cent to Rs 7.56 lakh crore. The collection includes corporate tax of over Rs 7.42 lakh crore and non-corporate tax mop-up of Rs 7.97 lakh crore. Securities Transaction Tax (STT) of Rs 40,114 crore was collected between April 1-December 17 of ...Read More >
The recent two-month rally seen in AUD/JPY has flashed out bearish technical elements. The financial market has managed to breathe a "sign of relief" on Monday, 25 November after the incoming Trump administration announced Scott Bessent as the US Treasury Secretary nominee last Friday. Bessent, a Wall Street veteran is being viewed as a more pragmatic person who may favor pro-growth policies (an advocate of Trump's corporate tax cuts and deregulation policies) over anti-growth initiatives such ...Read More >
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