Direct tax collection rises 22% to Rs 10.60 lakh crore this fiscal
According to the data released by the Ministry of Finance, collection from direct tax rose 17.59% to Rs 12.37 lakh crore on a gross basis.
According to the data released by the Ministry of Finance, collection from direct tax rose 17.59% to Rs 12.37 lakh crore on a gross basis.
This amount will enable the state governments to make in-time releases and add to the festivities and celebrations among the people, said the Ministry of Finance in a statement.
Ministry of Finance has brought changes for the purposes of calculation of ‘perquisite’ with regard to the value of rent-free…
The Centre has taken note of heavy rains this year and relaxed guidelines to release the amounts immediately, without waiting for utilisation certificates of the funds provided in the last financial year.
view of a higher multiplier effect of capital expenditure and in order to provide a boost to capital spending by states, the scheme ‘Special Assistance to States for Capital Investment 2023-24' was announced in the Union Budget 2023-24
Finance Minister Nirmala Sitharaman on Wednesday said that despite exogenous threats, India's well-targeted policy mix, accompanied by major structural reforms and a sound external balance sheet, have aided its growth to remain resilient.
"Indian economic performance in the first half of 2022-23 has been impressive compared to the world. As measured by PMI composite index, the economic activity level was higher for India at 56.7 compared to 51.0 for the World level during April-Sept 2022," said the economic review which was released on Saturday by the Finance Ministry.
The States which received the funds are Andhra Pradesh (Rs 136 crore), Chhattisgarh (Rs 109 crore), Maharashtra (Rs 799 crore), and Uttar Pradesh (Rs 720 crore), a statement from the ministry said on Wednesday evening.
The central government on Thursday released Rs 7,183.42 crore as a post-devolution revenue deficit grant to 14 states including Kerala, Punjab, Rajasthan, Himachal Pradesh, and West Bengal for the month of October.
The Centre has modified the Emergency Credit Line Guarantee Scheme (ECLGS) to enhance the maximum loan amount eligibility for airlines under ECLGS 3.0 to 100 per cent of their fund based or non-fund based loan outstanding or Rs 1,500 crore, whichever is lower; and of the above, Rs 500 crore shall be considered, based on equity contribution by the owners.
