Tax Revenue

Undocumented Indian Immigrants In US Hold $15.5 Billion In Spending Power: Report

Indians Abroad | Press Trust of India | Tuesday March 9, 2021

Undocumented Indian immigrants to the US, numbering over half a million, hold a collective spending power of $15.5 billion and contribute $2.8 billion to the federal, state and local tax revenue, says an American think-tank report.

Centre Should Cut Its Tax On Fuel: Tamil Nadu Deputy Chief Minister

India News | Press Trust of India | Saturday February 27, 2021

The centre should come forward to reduce its tax on petroleum products since the resources for state's own tax revenue is meagre, Tamil Nadu Deputy Chief Minister O Panneerselvam told the Assembly on Saturday.

Government To Allow Additional Borrowing For States Which Complete Specific Reforms

Business | Edited by Nikita Prasad | Wednesday December 16, 2020

The states which implement all reforms are eligible for additional borrowings of up to Rs 2.14 lakh crore equivalent to 0.25 per cent of their gross states domestic product

Opinion: Why PM Modi Remains So Popular Despite Coronavirus Crisis

Opinion | Mihir Sharma, Bloomberg | Monday September 14, 2020

India's Covid-19 cases continue to climb, even as the economy tanks. China is pressing forward on the two countries' disputed Himalayan border, where dozens of Indian soldiers have been killed. Tax revenues have plummeted, state governments are unhappy and 21 million of India's rare salaried jobs vanished in the last few months. And yet Prime Minis...

Pay Our Dues, Got Maximum Tax Revenue Before GST: Haryana To Centre

India News | Press Trust of India | Friday August 28, 2020

Haryana Deputy Chief Minister Dushyant Chautala has requested the centre to pay the state's goods and services (GST) compensation of Rs 5,840 crore at the earliest that has been pending for the last four months, according to a statement on Friday.

Punjab Suffers 88% Fall In Revenue In April: Amarinder Singh

India News | Press Trust of India | Thursday May 7, 2020

Pegging the April revenue shortfall for Punjab at 88 per cent, Chief Minister Amarinder Singh on Wednesday said with all tax revenues dried up and only 1.5 per cent of the industry currently operational, the state was facing a difficult financial situation.

Government Halts Key Policy Plans As Revenues Shrink: Report

Business | Reuters | Tuesday March 17, 2020

The income tax revenues contracted 3.5 per cent in the first 11 months of the current fiscal year, which began in April 2019.

G20 Officials Call for Unity to Tax Tech Giants

Reuters | Monday February 24, 2020

Leading world economies must show unity in dealing with aggressive "tax optimisation" by global digital giants like Google, Amazon, and Facebook, G20 officials said on Saturday.

"3 Things To Speak ...": P Chidambaram's Advice To PM Before Delhi Polls

India News | Edited by Chandrashekar Srinivasan | Wednesday January 29, 2020

With the Budget only three days away, former Finance Minister P Chidambaram hit out at Prime Minister Modi and his government this morning over the state of the economy, highlighting shortfall in tax revenues and a sharp increase in retail inflation

Opinion: No Disguising The Economic Slowdown Now. Take A Look

Opinion | Maitreesh Ghatak | Monday October 7, 2019

Only last spring, as the country was gearing up for elections, we were hearing about a growth rate of 7 per cent, the highest in the world. Various new statistics were trotted out to suggest that the growth rate since 2014 had been higher than that under the previous regime. Those of us who looked at other economic indicators such as the unemployme...

Sensex Up 200 Points, Nifty Firm Above 11,100: 10 Things To Know

Business | Written by Abhishek Vasudev | Tuesday August 27, 2019

The S&P BSE Sensex and NSE Nifty 50 indexes were trading firmly higher after the Reserve Bank of India's central board decided to payout Rs 1.76 lakh crore of excess funds to the central government. The RBI's payout comes at a time the government strives to tackle a nearly five-year low economic growth with lakhs of estimated job cuts across sector...

Amid Slowing Growth, RBI's Rs 1.76 Lakh-Crore Payout To Government: 10 Points

Business | Edited by Sandeep Singh | Tuesday August 27, 2019

The Reserve Bank of India (RBI) on Monday approved a payout of Rs 1.76 lakh crore to the government from its surplus and reserves, after an expert committee chaired by former Governor Bimal Jalan made its recommendations to the central bank. The record transfer, including a surplus of Rs 1.23 lakh crore for 2018-19, will boost the government's fina...

Pakistan Needs To Mobilize Tax Revenue, Cut Debt, Says IMF

India News | Reuters | Monday July 22, 2019

Pakistan needs to mobilize domestic tax revenue to ensure funds for social and development programs, while reducing debt, the acting director of the International Monetary Fund said on Sunday after a meeting with Pakistani Prime Minister Imran Khan.

Budget Reflects Firm Commitment To Boost Investment: Nirmala Sithaaraman

Business | Press Trust of India | Friday July 12, 2019

The target of putting India in the $5 trillion club is not "without a plan", she said and listed out measures proposed in the Budget.

New Zealand to Target Online Giants With Digital Tax

Reuters | Monday February 18, 2019

New Zealand said on Monday that it plans to update its laws so it can tax revenue earned by multinational digital firms such as Google, Facebook, and Amazon.