Math Of Budget 2023: Increase In Taxes To Fund Higher Capex And IT Breaks For Middle Class
1 year, 10 months ago

Math Of Budget 2023: Increase In Taxes To Fund Higher Capex And IT Breaks For Middle Class

ABP News  

Finance Minister Nirmala Seetharaman on Wednesday presented Modi government’s 9th full Budget and last before the general elections next year. In a longer-than-usual Budget speech, the minister focussed on higher capital outlay as a means to foster growth amidst global headwinds, while at the same time providing tax relief to lower middle class. Source: Budget Document The tax revenues are expected to increase by 11.7% in FY 2023-24 to Rs. Allocation to agriculture, education, health and Jal Jeevan Mission have increased by 10% to 27% which augurs well for the rural economy but total increase is only Rs. The revenue expenditure budget estimate for previous year was flat at Rs 32 lakh crore but the actual amount spent was Rs 34.58 lakh crore in revised estimates.

Tax Budget Revenue Crore Lakh Higher Increase Expected Expenditure Pit Fiscal Deficit Revenue Expenditure Nrega Cit  budget  rs  capex  tax  taxes  math  crore  lakh  middle  expected  higher  economy  increase  revenue  breaks  expenditure  fund  total  class

History of this topic

Industry needs to up R&D spend, expect govt capex growth to sustain: Ficci
1 week, 3 days ago

Industry needs to up R&D spend, expect govt capex growth to sustain: Ficci

Live Mint  

New Delhi: Businesses need to step up their research and development spending, and the industry expects the government to sustain the growth in budget allocation for capital expenditure as these two would help the Indian industry to become more competitive in global markets, Harsha Vardhan Agarwal, president of Federation of Indian Chambers of Commerce and Industry, and vice-chairman and managing …

Capex slowdown helps govt cut deficit by 6.6 per cent in Apr-Oct
3 weeks, 3 days ago

Capex slowdown helps govt cut deficit by 6.6 per cent in Apr-Oct

New Indian Express  

NEW DELHI: The slowing down of capital expenditure has helped the central government keep its books in order with fiscal deficit contracting by 6.6% in the first seven months of the current financial year, according to the data released by the government. The fiscal deficit during the period was Rs 7.5 lakh crore, which is 46.5% of the budget target …

Education, welfare in focus of ₹2.94 lakh-cr Andhra budget
1 month, 1 week ago

Education, welfare in focus of ₹2.94 lakh-cr Andhra budget

Hindustan Times  

The Telugu Desam Party-led National Democratic Alliance government in Andhra Pradesh on Monday presented its first full-fledged budget of ₹2,94,427 crore for 2024-25, five months after coming to power. Finance minister Payyavula Kesav told the state legislative assembly that the budget included revenue expenditure of ₹2,35,916 crore and capital expenditure of ₹32,712 crore. The NDA government under chief minister N …

Govt plans survey of lagging private capex
2 months, 4 weeks ago

Govt plans survey of lagging private capex

Hindustan Times  

The statistics ministry is planning to conduct a survey of private-sector capital investment going into the economy, which has been lagging government capex but is critical for growth and jobs in Asia’s third-largest economy, a senior official has said. Private sector investment has grown at a slower pace, outstripped by government fixed capital formation, a measure of public spending on …

Punjab sees 15% jump in tax revenue despite sluggish GST
5 months ago

Punjab sees 15% jump in tax revenue despite sluggish GST

Hindustan Times  

Chandigarh : The Punjab government registered an increase of 15% year-on-year in its tax revenue in the first quarter of the financial year 2024-25. The Punjab government registered an increase of 15% year-on-year in its tax revenue in the first quarter of the financial year 2024-25 The impressive increase came on the back of improved state excise, sales tax and …

India's 2024 Budget: A push for tax reform
5 months, 1 week ago

India's 2024 Budget: A push for tax reform

India Today  

The 2024 Budget, scheduled for July 23, may see tweaks to key tax policies to boost government revenue — bold steps to tackle tax evasion and improve tax compliance. 1980: For every Rs 100 collected, Rs 11 came from income tax, Rs 12 from corporate tax, Rs 1 from other direct taxes, and Rs 76 from other indirect taxes. 2000: …

Move ahead: On GST and reform
6 months ago

Move ahead: On GST and reform

The Hindu  

Revenues from the Goods and Services Tax, which completes seven years at the end of this month, hit a record high of ₹2.1 lakh crore in April that typically sees higher inflows due to a year-end compliance rush. Although gross revenues from domestic transactions grew 15.3%, accelerating from a 13.4% rise a month earlier, revenues from goods imports dipped for …

GST collection rises 10% to ₹1.73 lakh crore in May
6 months, 3 weeks ago

GST collection rises 10% to ₹1.73 lakh crore in May

The Hindu  

The country's gross GST collections rose to ₹1.73 lakh crore in May, growing 10% year on year driven by increased revenues from domestic transactions, the finance ministry said on Saturday. After accounting for refunds, the net GST revenue for May 2024 stood at ₹1.44 lakh crore, reflecting a growth of 6.9% compared to the same period last year. The gross …

Broaden GST net, cut cesses to reduce tax burden
7 months, 3 weeks ago

Broaden GST net, cut cesses to reduce tax burden

New Indian Express  

Goods and services tax collection crossed the landmark of Rs 2.1 lakh crore for the first time in April. Truth be told, April has always seen higher collections, thanks in part to year-end adjustments in tax assessments. But what sets apart the latest haul is that a part of the 12.4 percent increase over last year was led by a …

In A First, Road Ministry's Capex in 2023-24 Crosses Rs 3 Lakh Crore With Highest-Ever Private Investment
8 months, 1 week ago

In A First, Road Ministry's Capex in 2023-24 Crosses Rs 3 Lakh Crore With Highest-Ever Private Investment

News 18  

In what may be termed a first in the road ministry’s history, the actual capital expenditure, including that from private investment, in the financial year 2023-24 crossed Rs 3 lakh crore, data accessed by News18 shows. The numbers suggest that in the last financial year, the Ministry of Road Transport and Highways was allocated Rs 2.64 lakh crore, the highest-ever, …

A reform window: On the GST trajectory
8 months, 3 weeks ago

A reform window: On the GST trajectory

The Hindu  

The financial year 2023-24 appears to have ended on a high on the revenue front. Net direct tax collections rose 19.9% by mid-March to hit 97% of revised Budget targets, while the Goods and Services Tax has yielded a robust ₹20.18 lakh crore. Gross GST revenues in March, for transactions undertaken in February, crossed ₹1.78 lakh crore, the second highest …

On Track: MoRTH, Railways Use Up More Than 75% Capex Target Till Third Quarter of 2023-24 Fiscal
10 months, 1 week ago

On Track: MoRTH, Railways Use Up More Than 75% Capex Target Till Third Quarter of 2023-24 Fiscal

News 18  

Two of the biggest infrastructure ministries – road transport and highways as well as railways – have used more than 75 percent of the capital expenditure in the first nine months of the current fiscal. According to data from the ministry, the railways, which got Rs 2.62 lakh crore for the ongoing financial year, has spent Rs 1.95 lakh crore …

Interim budget 2024-25: Capex raised to 3.4% of GDP despite fiscal consolidation
10 months, 3 weeks ago

Interim budget 2024-25: Capex raised to 3.4% of GDP despite fiscal consolidation

Hindustan Times  

The central government’s capital spending in 2024-25, according to the interim budget will be ₹11,11,111 crore, a number which is more like an auspicious figure than a hard-headed budgetary allocation. Read here: Interim budget 2024-25: Govt stays the course on fiscal consolidation path Fiscal numbers of the second Narendra Modi government speak for themselves. The share of capital spending in …

Key takeaways from interim Budget 2024-25 in charts
10 months, 3 weeks ago

Key takeaways from interim Budget 2024-25 in charts

The Hindu  

The Finance Minister presented her sixth budget today. Budget 2024 live updates Besides this, here are the charts that show key numbers from the interim Budget 2024: Budget at a glance The Finance Minister said that the Revised Estimate of the total receipts other than borrowings is Rs 27.56 lakh crore. Capital Expenditure Capital expenditure outlay was raised to ₹11.1 …

Budget 2024: Govt to focus on Make in India initiative to boost manufacturing
11 months ago

Budget 2024: Govt to focus on Make in India initiative to boost manufacturing

India TV News  

To incentivise the manufacturing sector and generate employment, the government may extend the scope of the Production-Linked Incentive scheme in the upcoming budget. Zameer Malik, CEO of Kulsum's Kaya Kalp, said that the government is expected to continue prioritizing capital expenditure, particularly in the infrastructure sector, to drive economic growth. Gurmit Singh Arora, president of the Indian Plumbing Association, said …

Interim Budget 2024: Overall spending likely to see 10% hike, says report
11 months, 1 week ago

Interim Budget 2024: Overall spending likely to see 10% hike, says report

India Today  

The upcoming interim budget for the fiscal year 2024-25 may witness a cautious approach from the government, with an anticipated 10 per cent increase in overall spending compared to the current fiscal year, reported The Economic Times. Despite the economy's robust growth, with a forecasted 7.3 per cent increase in Gross Domestic Product for the fiscal year 2023-24, the government …

Growth signals: On GST revenues
11 months, 3 weeks ago

Growth signals: On GST revenues

The Hindu  

The Goods and Services Tax has yielded close to ₹1.65 lakh crore in gross revenues in the last month of 2023. The first nine months of 2023-24 have clocked a 12% rise in GST collections, with the monthly intake averaging ₹1.66 lakh crore, from ₹1.49 lakh crore in 2022-23. The Budget had factored in monthly GST revenues of around ₹1.59 …

Tax collection on course to grow 3 times to over ₹19 lakh crore in 10 years of Modi Government
11 months, 3 weeks ago

Tax collection on course to grow 3 times to over ₹19 lakh crore in 10 years of Modi Government

The Hindu  

Personal income and corporate tax collections are likely to rise to more than ₹19 lakh crore in 10 years of Prime Minister Narendra Modi-led Government, providing more leeway to come out with people-friendly tax measures. Driven by the increasing income of individuals, net direct tax collections after adjusting for refunds increased from ₹6.38 lakh crore in FY 2013-14 to ₹16.61 …

GST collection crosses Rs 1.6 lakh for 6th time in current fiscal
1 year ago

GST collection crosses Rs 1.6 lakh for 6th time in current fiscal

Deccan Chronicle  

New Delhi: Crossing the Rs 1.6 lakh crore mark for the sixth time in the current financial year, the goods and services tax or GST revenue collections for November 2023 jumped 15 per cent to nearly Rs 1.68 lakh crore on an annual basis. As per the statement, the GST revenue collection for November 2023 at Rs 1,67,929 crore records …

GST Collections In August 2023 Grow 11% To Rs 1.6 Lakh Crore: Official Data
1 year, 3 months ago

GST Collections In August 2023 Grow 11% To Rs 1.6 Lakh Crore: Official Data

News 18  

GST collections in August 2023 jumped 11 per cent year-on-year to Rs 1.59 lakh crore, according to the official data released on Friday. “The gross GST revenue collected in the month of August, 2023 is Rs 1,59,069 crore of which CGST is Rs 28,328 crore, SGST is Rs 35,794 crore, IGST is Rs 83,251 crore and cess is Rs 11,695 …

Highways Ministry, Railways Achieve Around 40% Capital Expenditure Till July, Aim to Spend 90% by December
1 year, 4 months ago

Highways Ministry, Railways Achieve Around 40% Capital Expenditure Till July, Aim to Spend 90% by December

News 18  

With about eight assembly polls and the Lok Sabha elections scheduled in the next one year, the Union government is prioritising its spending. Of the Rs 5 lakh crore allocated to these ministries for the current financial year, the two have already spent Rs 2.06 lakh crore by July-end. According to a Railway Ministry official, by July-end, the national transporter …

Centre devolves ₹3.09 lakh crore to States till July
1 year, 4 months ago

Centre devolves ₹3.09 lakh crore to States till July

The Hindu  

The Centre has devolved over ₹3.09 lakh crore to States till July of the ₹10.21 lakh crore budgeted to be transferred in the current fiscal, Minister of State for Finance Pankaj Chaudhary said on July 25. "Out of ₹10.21 lakh crore estimated to be transferred to States for the FY 2023-24, ₹3,09,521.22 crore has been devolved till July 2023, in …

GST revenue collection for April 2023 reaches an all-time high at Rs 1.87 lakh crore
1 year, 7 months ago

GST revenue collection for April 2023 reaches an all-time high at Rs 1.87 lakh crore

Op India  

In a vindication of the efforts taken by the Modi-led government to revive the Indian economy following the Covid-19 pandemic, the Ministry of Finance released the GST collection report on Monday and stated that the revenue collection for April 2023 was the highest ever at Rs 1.87 lakh crore. “Gross GST collection in April 2023 is all time high, Rs …

Income-tax collections grow 20% in one year, nears ₹20 lakh crore mark
1 year, 8 months ago

Income-tax collections grow 20% in one year, nears ₹20 lakh crore mark

Hindustan Times  

NEW DELHI: The Union finance ministry on Monday reported over 20% year-on-year jump in gross direct tax revenue at ₹19.68 lakh crore for the financial year ending March 31, 2023, days after it declared about 22% annualised growth in Goods and Services Tax collections at ₹18.1 lakh crore, reflecting sustained growth in economic activities, better tax administration and ease of …

GST collection in March 2023 rises to over Rs 1.60 lakh crore
1 year, 8 months ago

GST collection in March 2023 rises to over Rs 1.60 lakh crore

India TV News  

GST collection March 2023: Recording a growth, the gross GST revenue in March month rose to Rs 1,60,122 crore as compared with Rs 1,49,577 crore during February this year. It is for the fourth time, in the current financial year, that the gross GST collection has crossed Rs 1.5 lakh crore mark, registering second highest collection since implementation of GST. …

GST mop-up rises 13 pc to Rs 1.60 lakh cr in March, second highest collection ever
1 year, 8 months ago

GST mop-up rises 13 pc to Rs 1.60 lakh cr in March, second highest collection ever

Deccan Chronicle  

New Delhi: GST collection grew 13 per cent in March to Rs 1.60 lakh crore Â- the second highest mop-up since the rollout of the indirect tax regime. The total gross collection for full 2022-23 fiscal stands at Rs 18.10 lakh crore, 22 per cent higher than the previous year. It is for the fourth time in the just gone …

Fund allocations for welfare increased in AP Budget
1 year, 9 months ago

Fund allocations for welfare increased in AP Budget

Deccan Chronicle  

VIJAYAWADA: The Jagan Mohan Reddy government’s welfare schemes get a fresh boost with an increase in fund allocations for them in the AP Budget 2023 presented in the Assembly on Thursday. Taking to Twitter later in the day, the CM said, “The main objectives were to provide good education, good medicine, good health, happiness for farmers, empowerment of my sisters, …

Tax transitions: The Hindu Editorial on GST revenue trends
1 year, 9 months ago

Tax transitions: The Hindu Editorial on GST revenue trends

The Hindu  

The nearly ₹1.5 lakh crore of gross Goods and Services Tax collections in February are notable from several aspects. First, they mark the 12th successive month that GST revenues have stayed over ₹1.4 lakh crore, and the fourth highest single month kitty since the launch of the GST regime. The average monthly GST collections in the first 11 months of …

MP govt’s ₹3.14 lakh crore budget focuses on women, tribals and religion
1 year, 9 months ago

MP govt’s ₹3.14 lakh crore budget focuses on women, tribals and religion

Hindustan Times  

Madhya Pradesh finance minister Jagdish Deoda presented a revenue surplus budget of over ₹3.14 lakh crore on Wednesday in the state assembly ahead of the December polls. Madhya Pradesh finance minister Jagdish Deoda presented the state budget today With a special focus on women, tribals and religion, Deoda announced schemes for giving scooty and skill upgradation stipends to girl students, …

Haryana CM presents ₹1,83,950 crore budget for 2023-24, up 11.6%; no new tax imposed
1 year, 10 months ago

Haryana CM presents ₹1,83,950 crore budget for 2023-24, up 11.6%; no new tax imposed

The Hindu  

Haryana government on Thursday presented a tax-free state budget for the 2023-24 financial year with an outlay of ₹1,83,950 crore, an increase of 11.6% in comparison to the previous year. The budget proposes an expenditure of ₹57,879 crore on capital asset creation representing 31.5% and ₹1,26,071 crore on revenue expenditure representing 68.5%. “In budget estimate 2023-24, I have projected revenue …

W.B. Budget for 2023-24 broadens welfare schemes, gives incentives to jobs
1 year, 10 months ago

W.B. Budget for 2023-24 broadens welfare schemes, gives incentives to jobs

The Hindu  

With an eye on the upcoming panchayat polls, the West Bengal government’s Budget for the year 2023-24 on Wednesday widened the ambit of social welfare schemes like Lakshmi Bhandar, added a new scheme providing death benefits for fishermen, promised financial assistance for micro-enterprise and allocated ₹3000 crore for rural road connectivity and repair of urban roads in the State. Minister …

Pakistan Finance Minister Dar Presents PKR 170 Billion ‘Mini Budget’ to Unlock IMF Package
1 year, 10 months ago

Pakistan Finance Minister Dar Presents PKR 170 Billion ‘Mini Budget’ to Unlock IMF Package

News 18  

Pakistan finance minister Ishaq Dar introduced the Finance Bill 2023 in the nation’s National Assembly on Wednesday. Dar announced last week that the government would introduce a mini-budget to generate PKR 170 billion in additional revenues in four months in order to secure the IMF bailout package. The finance minister’s mini budget also proposes raising federal excise duty on cigarettes …

Tax-Capex double engine in Union Budget 2023-24
1 year, 10 months ago

Tax-Capex double engine in Union Budget 2023-24

Hindustan Times  

Finance minister Nirmala Sitharaman on Wednesday presented a Budget that continued her government’s emphasis on capital investment, with a record ₹10 lakh crore spend planned in 2023-24, sought to encourage taxpayers to spend more with tax cuts, and announced a ₹35,000 crore expenditure on energy transition even as she managed to reduce the fiscal deficit to 5.9% from 6.4% this …

Budget 2023-24 decoded for UPSC aspirants
1 year, 10 months ago

Budget 2023-24 decoded for UPSC aspirants

Firstpost  

India’s rising global profile is due to several accomplishments like unique ‘World Class Digital Public Infrastructure’ namely, Aadhaar, Co-Win and UPI; the COVID-19 vaccination drive in unparalleled scale and speed; proactive roles in frontier areas such as achieving climate-related goals, mission Union Budget 2023-24 Analysis: Union Finance Minister Nirmala Sitharaman presented the Union Budget 2023-24. Resilience amidst multiple crises India’s …

Great Budget for CapEx and Railways, Not Bad for Direct Taxes - News18
1 year, 10 months ago

Great Budget for CapEx and Railways, Not Bad for Direct Taxes - News18

News 18  

Finance Minister Nirmala Sitharaman began her speech by calling Budget 2023 the first one in Amrit Kaal. Unfortunately, there were few takers for the new scheme because one could pay fewer taxes by using the various exemptions in the old scheme. There will be less complicated tax calculations involved in using the exemptions and actually lower tax liabilities just by …

New income tax regime overhaul, Rs 2.4 L cr for railways among 5 big announcements by FM Niramala Sitharaman
1 year, 10 months ago

New income tax regime overhaul, Rs 2.4 L cr for railways among 5 big announcements by FM Niramala Sitharaman

India Today  

Union Finance Minister Nirmala Sitharaman presented Union Budget 2023 in Parliament on Wednesday and her proposals come at a time when India’s economy is facing challenges from a plethora of global factors, including inflation and a possible GDP growth slowdown in FY24 as predicted by the International Monetary Fund in its January update of the World Economic Outlook. The Top …

Budget 2023: Key takeaways from Nirmala Sitharaman's announcements
1 year, 10 months ago

Budget 2023: Key takeaways from Nirmala Sitharaman's announcements

Hindustan Times  

The Narendra Modi government at the Centre will focus on economic growth and job creation and cut down the fiscal deficit, Union finance minister Nirmala Sitharaman said on Wednesday, presenting its last full budget in Parliament before the 2024 election. She also said the enhanced capex of ₹10 lakh crore for infrastructure development is at 3.3 per cent of the …

5 Major Announcements For Middle-Class: Budget 2023-24
1 year, 10 months ago

5 Major Announcements For Middle-Class: Budget 2023-24

Live Law  

On February 1, the Union Budget for 2023-24 was presented in the Lok Sabha by Finance Minister Nirmala Sitharaman. 7 Lakhs In The New Tax Regime From 5 Lakhs The individuals with income up to Rs.5 lakh do not pay any income tax in both old and new tax regimes. New Tax Slabs introduced The Finance Minister Nirmala Sitharaman has …

Budget 2023: Key Highlights From Modi Govt's Final Full Budget Before 2024 LS Polls
1 year, 10 months ago

Budget 2023: Key Highlights From Modi Govt's Final Full Budget Before 2024 LS Polls

ABP News  

Finance Minister Nirmala Sitharaman on Wednesday tabled the final full Budget of the NDA-II government. At Rs 10 lakh crore, the central goverment's capex target for 2023-24 is 33 per cent higher than the Budget Estimate of Rs 7.5 lakh crore for 2022-23. This Budget provides for Rs 35,000 crore capital investment towards energy transition and net zero objective and …

FM lists 7 Budget priorities: Tax slab changes; middle class focus; Rlys boost
1 year, 10 months ago

FM lists 7 Budget priorities: Tax slab changes; middle class focus; Rlys boost

Deccan Chronicle  

New Delhi: Putting more money in the hands of the middle class as well as salaried individuals to boost taxpayers in India, finance minister Nirmala Sitharaman on Wednesday announced her Budget 2023-24, saying that the Indian economy was on the right path and heading towards a bright future as economic growth is estimated at nearly seven per cent, the highest …

High govt revenue: What it means for Budget 2023
1 year, 10 months ago

High govt revenue: What it means for Budget 2023

Live Mint  

New Delhi: As it prepares to present the 2023-24 budget, the Centre finds itself blessed with a good revenue position. For each of the three years till 2020-21, growth in overall GST collections lagged nominal GDP growth. The three major tax heads of the Centre—income tax, corporation tax, and central GST, which account for about 80% of its gross tax …

Budget 2023 Expectations LIVE Updates: FM Expected to Announce Tax Benefits for Salaried, Middle Class
1 year, 10 months ago

Budget 2023 Expectations LIVE Updates: FM Expected to Announce Tax Benefits for Salaried, Middle Class

News 18  

Budget 2023 Expectations: 'Healthcare Budget For Moving Towards Value-Based Care Model' Apurva Sule, Chief Business Officer, Heaps Health, said, “The National Health Authority, in its most recent announcement, plans to introduce a new system wherein the performance of the hospitals empaneled with the central flagship scheme Ayushman Bharat Pradhan Mantri Jan Arogya Yojana will be graded on value-based health care …

Budget 2023: Why govt should consider tax relief despite limited fiscal room
1 year, 11 months ago

Budget 2023: Why govt should consider tax relief despite limited fiscal room

India Today  

An incremental tax relief in the upcoming Union Budget 2023 could help the central government provide consumption support to the Indian economy in FY24 and shield it from the worsening financial environment in the West. Recently, global economic experts, including International Monetary Fund Deputy Managing Director Gita Gopinath, noted that an inflation-driven price shock could disrupt the lives of people …

What will be the math behind Budget 2023?
1 year, 11 months ago

What will be the math behind Budget 2023?

Live Mint  

In the upcoming Union budget, the Centre will make prudent promises as always about keeping its finances in check. That’s changed: a fresh estimate released on Friday predicts growth at 15.4%, which means the Centre can keep its 6.4% promise even if fiscal deficit overshoots the target by about ₹0.9 trillion. View Full Image Mint Fiscal Hole In its budget …

Union Budget 2023: Govt likely to raise income tax exemption limit from Rs 2.5 lakh to 5 lakh
1 year, 11 months ago

Union Budget 2023: Govt likely to raise income tax exemption limit from Rs 2.5 lakh to 5 lakh

India TV News  

Union Budget 2023: In the upcoming budget for 2023–24, the Union government is allegedly expected to increase the income tax exemption limit from the current Rs 2.5 lakh to Rs 5 lakh. The finance minister had also raised capital expenditure by 35.4% for the financial year 2022-23 to Rs 7.5 lakh crore to boost demand, while the capex last year …

Budget targets, though higher, will be met, says Harpal Cheema
2 years, 1 month ago

Budget targets, though higher, will be met, says Harpal Cheema

Hindustan Times  

Into his eighth month as the finance and taxation minister of the Aam Aadmi Party government, Harpal Singh Cheema has the most challenging task among all the cabinet ministers. Against the excise collection of ₹2,963 in the first six months of financial year 2021-22, we have garnered ₹4,082 crore so far. At ₹8,703 crore, revenue deficit in the first six …

Direct Tax Collection Rises 35.46% So Far This Fiscal, Govt Collects Rs 6.48 Lakh Crore
2 years, 3 months ago

Direct Tax Collection Rises 35.46% So Far This Fiscal, Govt Collects Rs 6.48 Lakh Crore

News 18  

Direct tax collection has increased by 35.46 per cent to Rs 6.48 lakh crore in the current fiscal up to September 8, the finance ministry said. Direct tax collection, net of refunds, stands at Rs 5.29 lakh crore which is 30.17 per cent higher than the net collections for the corresponding period of last year, according to the data released …

GST Collections in July Jump 28% To Rs 1,48,995 Crore; Second Highest Mop-Up Ever
2 years, 4 months ago

GST Collections in July Jump 28% To Rs 1,48,995 Crore; Second Highest Mop-Up Ever

News 18  

Goods and services tax collections in July jumped 28 per cent year-on-year to Rs 1,48,995 crore, on better reporting and economic recovery. “The revenues for the month of July 2022 are 28 per cent higher than the GST revenues in the same month last year of Rs 1,16,393 crore. The ministry also said the growth in GST revenue in the …

Direct Tax Collections Jump 51% YoY to Rs 2.8 Lakh Crore During April 1-June 15
2 years, 6 months ago

Direct Tax Collections Jump 51% YoY to Rs 2.8 Lakh Crore During April 1-June 15

News 18  

India’s direct tax collections jumped 51 per cent to Rs 2.8 lakh crore in the current quarter till June 15, compared with Rs 1.85 lakh crore in the year-ago same period. Total advance tax collections show growth of about 49 per cent year-on-year during April 1-June 15 to Rs 42,680 crore, against Rs 28,779 crore a year ago, sources told …

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