In a message to tax officers on the fourth anniversary of historic tax reform GST, she said in the last four years the taxpayer base has almost doubled from 66.25 lakh to 1.28 crore.
According to the data released by RedSeer Consulting, 88 per cent of the online shoppers that will be added between 2020-2030 will be from Tier 2+ cities.
The survey was carried out to assess the impact of COVID-19, with a sample size of 200 respondents across 48 villages in the states of Uttar Pradesh and Bihar.
‘More supply does not mean more demand (consumption). On the contrary, more demand (consumption) will trigger more supply,’ he said.
The UCBs shall ensure that the following ‘fit and proper’ criteria is fulfilled by the person being appointed as MD. The MD shall function under the overall general superintendence, direction and control of the Board of Directors (BoD).
According to the ratings agency, India’s growth in fiscal 2023 (ending March 31, 2023) will likely come in at 7.8 per cent.
In the past, capex announcements from PSU companies have been largely linked to improvement in operating cash flows and low leverage, which in turn was linked to commodity prices — similar to current scenario. Government is also pushing PSUs to upfront their capex.
Duflo is a French-American economist who is a professor of Poverty Alleviation and Development Economics at the Massachusetts Institute of Technology.
The slowdown in economy can further delay anticipated pick-up in credit growth apart from the likely impact on asset quality.
It, however said that Swiss Authorities have been requested to provide the relevant facts along with their view on possible reasons for increase or decrease in deposits so that facts could be presented in correct perspective.
India’s gross GST revenue collection reached a new record high of over Rs 1.41 lakh crore in April 2021, beating all expectations of lower collections in wake of disruptions clauses by fresh wave of Covid-19.
Significantly, this is the highest rate of WPI inflation in the current series. The previous high mark was observed in April.
Brazil’s first-quarter GDP expanded 1.2 per cent from the previous quarter and 2.3 per cent from first-quarter 2020. India’s first-quarter GDP rose 1.5 per cent quarter on quarter and year on year.
He was speaking to reporters after visiting the Aurangabad Industrial City and Marathwada Auto Cluster at Waluj near here.
Further, these profiles vary when analyzed at credit product level based on credit appetite, credit experience, credit discipline, and channel of consumption, and have made segmentation increasingly nuanced and complex.
Accordingly, the ratings agency said that with no relief in sight on the tax front, households are facing a double whammy.
Accordingly, it has revised its projection by 150 basis points to 9.5 per cent for the 2021-22 financial year.
For the first quarter, April-June, the retail inflation or the consumer price index (CPI) inflation has been estimated at 5.2 per cent, followed by 5.4 per cent, 4.7 per cent, and 5.3 in second, third and the fourth quarter
The 2020-21 deficit — the difference between revenue and expenditure — had been enhanced to Rs 18.48 lakh crore, or around 9.5 per cent of the GDP, as compared to the earlier target of Rs 7.96 lakh crore for the last fiscal.
A continuing fall in domestic consumption due to Covid-19 pandemic was behind the sluggish pace.
“Letting down the guard is perilous; it is best to prepare for future waves,” the report said.
Significantly, this is the highest rate of WPI inflation in the last 6-months. The monthly rate of inflation, based on month over month movement of WPI index, in April 2021 stood at 1.86 per cent as compared to March 2021.
For South Asia, the report said, economic growth will return in 2021 at 6.9 per cent against a 5.6 per cent drop in 2020, but the recovery will be very uneven, and the scarring effects will run deep.
This puts the forecast even further from the government’s 6.8 per cent deficit projection for FY22 made in the February Union Budget.
The US-based rating agency in March had a 11 per cent GDP growth forecast for India for the April 2021-March 2022 fiscal on account of a fast economic reopening and fiscal stimulus.
