Rajeev Jayaswal The net direct tax collections of ₹ 9.45 lakh crore include corporation tax at ₹ 4.57 lakh crore and ₹ 4.88 lakh crore personal income tax. [email protected] New DelhiThe Union government’s net direct tax collections for the year 2020-21 surpassed the revised estimate by 4.42% at ₹9.45 lakh crore, the finance ministry said on Friday, disclosing figures that …
India’s economic growth is expected to contract over 7 per cent in 2020-21 due to the impact of the economic distress caused by the coronavirus pandemic during the year. The first advance estimates of economic growth released by the government show that the economy is likely to contract 7.7 per cent in the current fiscal year. It may be recalled …
Moody's Investors Service on Thursday upped India's growth forecast to 10.6 per cent for the current fiscal, from its earlier estimate of 11.5 per cent saying the latest stimulus prioritises manufacturing and job creation, and shifts focus to longer-term growth. "We have revised our real, inflation-adjusted GDP forecast for fiscal 2020 to a 10.6 per cent contraction, from a 11.5 …
The Reserve Bank of India on Friday left key interest rates unchanged for the second time in a row as widely expected, while retaining an accommodative monetary policy stance, implying more rate cuts in the future if needed to support the coronavirus-hit economy. The monetary policy committee kept the repo rate, its key lending rate, at 4%, while the reverse …
Mumbai: Domestic rating agency Icra further revised down its GDP estimate for the country on Monday and now expects the Indian economy to contract by 11 per cent in FY21. The agency, which was earlier estimating a contraction of 9.5 per cent, said the revision has been done as the rate of new COVID-19 infections remains elevated. The rating agency …