Chief Economic Advisor K V Subramanian, however, said the decision will have to be taken by the GST council.
Prices of petrol and diesel were increased across the four metros in the country after a pause three days on Saturday.
The agriculture and industrial sectors witnessed growth in the October-December quarter of the current fiscal, while the contact intensive services sectors registered de-growth
The economy exited recession after two consecutive quarters of contraction as the gross domestic product growth expanded by 0.4 per cent in the October-December quarter
Infrastructure Output in January 2021: Coal, crude oil, natural gas, refinery products, as well as cement registered negative growth during the month, according to the Ministry of Commerce
The GDP had contracted by a massive 23.9 per cent in the June quarter amid the pandemic-led nationwide lockdown and by 7.5 per cent during the September quarter
The Indian economy has exited recession after two consecutive quarters of de-growth as the gross domestic product (GDP) expanded by 0.4 per cent in the three months ended December 2020 as against a contraction of 7.3 per cent in the September quarter. India is among the few major economies to post growth in the last quarter of 2020. For the full year, GDP is estimated to contract by 8 per cent in the financial year, the National Statistical Office (NSO) said in a press release.
Fiscal Deficit Target: Net tax receipts were Rs 11.02 lakh crore, while total expenditure was Rs 25.17 lakh crore, the data showed.
Speaking at a webinar on Budget announcements on Financial Services, PM Modi said to help medium and small businesses during COVID-19. 90 lakh MSMEs were given credit worth Rs 2.4 trillion.
Six indicators witnessed an improved year-on-year performance in January 2021, compared to December 2020, viz., non-oil exports, rail freight traffic, diesel consumption etc
GDP Data: India had slipped into a technical recession during July-September when gross domestic product fell for two successive quarters
Countercyclical stance of Budget 2021 has cemented expectations of growth recovery continuing well into the next fiscal, and the range of real GDP growth prognosis varies between 10-15 per cent
With an aim to boost domestic manufacturing and cut down import bills, the government introduced the PLI scheme, to provide incentives on incremental sales from products manufactured in domestic units.
The retail inflation may average close to five per cent in the next fiscal year, a significant moderation versus likely the current fiscal year's average of close to six per cent.
Narendra Modi, after becoming the prime minister in 2014, discarded the system of notary saying that citizens can self attest their documents, she said, adding that the system of boiler inspector, who would certify that the boiler in a factory is ok, was also abolished.